Healthcare Stocks Advancing; UnitedHealth Slides More Than 5% Following Q3 Revenue Miss

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Top Healthcare Stocks

JNJ +0.67%

PFE +0.64%

ABT +3.20%

MRK +0.21%

AMGN +1.06%

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

In company news, UnitedHealth Group ( UNH ) is down more than 5.2% at $71.28 a share after the healthcare insurer reported $30.62 billion in Q3 revenue, trailing the Capital IQ consensus by around $270 million.

The company earned $1.53 per share, in line with estimates.

Looking forward, UNH expects FY13 EPS in a range of $5.40 to $5.50, up from its prior forecast of $5.35 to $5.50 but still trailing the Street view by at least $0.01.

The company also reaffirmed its outlook of around $122 billion in revenue this year, also lagging the consensus call by $1.11 billion.

In other sector news,

(+) ORB, (+4.3%) Q3 EPS of $0.26 beats by $0.03 but revenue lags consensus view. Reduces top end of FY13 revenue guidance but remains in-line with Street view. Defers FY14 guidance due uncertainty over U.S. government spending.

(-) AMRN, (-61.2%) U.S. Food and Drug Administration advisory committee declines to recommend its supplemental new drug application for its fish-oil derived cholesterol drug Vascepa.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: UNH

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