BlackRock Inc. (NYSE:BLK) boosted its stake in several medical device companies, including a triple-digit increase for its investment in Biolase (NSDQ:BIOL), but cut its holdings in other medtech firms such as ArthroCare (NSDQ:ARTC), regulatory filings show.
BlackRock’s stake in Biolase, which makes dental lasers and equipment, rose by 167% as of Dec. 31, 2013, according to the filings. BlackRock, which has some $4.3 trillion in assets under management, owned a 7.2% piece of Biolase at the end of last year.
BlackRock also bought more of Thoratec (NSDQ:THOR), Merit Medical (NSDQ:MMSI), ICU Medical (NSDQ:ICUI) and Align Technology (NSDQ:ALGN), the filings show. In all, BlackRock owns a piece of nearly 50 medtech companies, according to the filings:
The investment management giant pared its holdings in several companies last year, the filings show, reducing its position in NeuroMetrix (NSDQ:NURO), Wright Medical (NSDQ:WMGI), NuVasive Inc. (NSDQ:NUVA) and Dentsply International (NSDQ:XRAY). (BlackRock might be regretting its move to cut back on ArthroCare (NSDQ:ARTC), given the 6.3% premium Smith & Nephew (FTSE:SN, NYSE:SNN) agreed to pay for the orthopedics company last month.):
BlackRock took out new positions in 6 medical device companies last year: