XHE Volume Surges as Teleflex Gains on Buyout Buzz

SPDR S&P Health Care Equipment ETF (XHE) has seen unusual trading volume, which is 15× higher than its average daily volume.

Among the fund’s larger positions, Teleflex (TFX), a 1.9% holding, moved higher after reports that private equity firms CVC Capital Partners and GTCR submitted a joint bid to take the medical device maker private, though terms remain unclear and management has cautioned there is no assurance a deal will occur. AxoGen (AXGN), also a 1.9% holding, drew attention after Lake Street raised its price target to $50 and reiterated a Buy rating, citing recent positive insurance coverage decisions for its Avance nerve graft from Anthem and Cigna and the potential for further upside as additional payors come on board.