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Health Care Sector Update for 12/06/2017: CLVS, DVA, HQY, UNH


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Top Health Care Stocks

JNJ +0.64%

PFE -0.22%

ABT -0.71%

MRK -2.31%

AMGN -1.93%

Health care stocks were retreating in recent trade, with the NYSE Health Care Index declining more than 0.3% while shares of health care companies in the S&P 500 were down almost 0.4% as a group.

In company news, Clovis Oncology ( CLVS ) rose Wednesday after the U.S. Food and Drug Administration late Tuesday accepted a supplemental New Drug Application by the company for its rucaparib drug candidate, also granting priority review status for the application and reducing the wait for a final decision on U.S. sales by four months to April 6, 2018.

Rucaparib is intended as maintenance therapy for women with recurrent ovarian cancer in complete or partial response to platinum chemotherapy and with no requirement for diagnostic testing.

In other sector news,

(+) DVA, (+12.6%) Agrees to sell its Davita Medical Group subsidiary to United HealthGroup's ( UNH ) Optum unit for $4.9 mln in cash, which will be used for stock buybacks, debt repayment and general corporate purposes.

(-) HQY, (-6.0%) Narrows FY18 EPS forecast to $0.64 to $0.66, lagging Capital IQ consensus by at least $0.02 per share. Q3 EPS rises to $0.17, beating analyst consensus by $0.01 per share. Revenue climbs 31% to $56.8 mln, also topping the $55.4 mln Street mean. Chardan raises price target by $4 to $62 a share, maintains Buy rating.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , US Markets
Referenced Symbols: CLVS , UNH , DVA , HQY


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