By Stephen Nakrosis
S&P Dow Jones Indices on Tuesday said it was making several changes to its MidCap 400 and SmallCap 600 indices.
Healthcare technology company Omnicell Inc., currently on the SmallCap 600, will move to the MidCap 400 on July 5, replacing Coherent Inc. II-VI Inc. is set to acquire Coherent in a deal expected to close July 1, S&P Dow Jones Indices said. Education company Stride Inc. will replace Omnicell on the SmallCap 600.
Also on July 5, Sun Country Airlines Holdings Inc. will join the SmallCap 600, replacing Neenah Inc., which is being acquired by Schweitzer-Mauduit International Inc., S&P Dow Jones Indices said.
Enhabit Inc., which is being spun off from Encompass Health Corp., will join the SmallCap600 on July 5, replacing Loyalty Ventures Inc. “Loyalty Ventures is no longer representative of the small-cap market space,” S&P Dow Jones Indices said.
On July 6, oil and natural gas company Southwestern Energy Co. will move to the MidCap 400 from the SmallCap 600, replacing CDK Global Inc. CDK is being acquired by Brookfield Business Partners LP, S&P Dow Jones Indices said. Frontdoor Inc., whose brands include American Home Shield and Landmark Home Warranty, will join the SmallCap 600 on that day, replacing Southwestern.
On July 7, geothermal company Ormat Technologies Inc. will replace CMC Materials Inc. on the MidCap 400. CMC is being acquired by Entegris Inc., with the deal expected to be completed July 6, according to S&P Dow Jones Indices.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
Read More: Changes Announced for S&P MidCap 400, SmallCap 600