Healthcare Sector Holding Moderate Gains; eHealth Surging After New Pact With U.S. Government


Top Healthcare Stocks

JNJ +0.78%

PFE -0.36%

ABT -0.11%

MRK +0.19%

AMGN -2.13%

Healthcare stocks are higher, with the NYSE Healthcare Sector Index climbing 0.5% and shares of healthcare companies in the S&P 500 rising 0.3% as a group.

In company news, eHealth ( EHTH ) is up nearly 29% at $30.72 a share, earlier climbing to a new 52-week high of $31.34 after striking a deal with the U.S. government on key requirements allowing the company to enroll residents in 36 states who are eligible for a tax subsidy in qualified health insurance plans under the Affordable Care Act.

EHTH through the deal gains access to the Federal electronic data hub, necessary for a determination of tax subsidy eligibility and the amount of a subsidy.

The company already has enrolled over 3 million individuals in coverage since it sold the first health insurance policy online in 1998. Of these, around 40% were uninsured before they came to EHTH.

In other sector news,

(+) BCRX, (+6.9%) Announces plans to sell up to $20 million in new stock, with proceeds to be used to fund clinical development of its BCX4161 drug candidate as well as work on other medications.

(-) NUVA, (-12.9%) Q2 adjusted earnings of $0.20 per share miss analyst projections by $0.03 worse than the Capital IQ Consensus Estimate of $0.23; revenues rose 7.3% year/year to $165.7 mln vs the $161.67 mln consensus.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: EHTH

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