Healthcare Stocks Again Ending in a Hole; Molina Healthcare Notches 4% Gain After Q1 Results

By
A A A

Top Healthcare Stocks

JNJ -1.27%

PFE -1.33%

ABT -0.21%

MRK -2.36%

AMGN -0.21%

Healthcare stocks were most lower Friday with the NYSE Healthcare Sector Index sinking about 0.6% and shares of healthcare companies in the S&P 500 falling around 0.8% as a group.

In company news, Molina Healthcare ( MOH ) was up nearly 4% at $39.32 a share in late trade after the Medicare and healthcare services processor posted a surprise Q1 profit.

Q1 earnings at the company were $0.10 per share, excluding non-recurring items, well over analyst estimates looking for a $0.01 per share net loss. Revenue rose 30.1% year over to year to $2.07 billion, edging out the consensus view by about $0.10 per share.

The company also reaffirmed its FY14 guidance expecting adjusted EPS of $1.65 to $2.15, in-line with the $1.95 per share consensus.

In other sector news,

(+) RXII, Announces positive test results for its RXI-109 drug candidate, reducing levels of a protein that helps form scars after being injected into the eyes of cynomolgus monkeys.

(-) IMMU, Prices underwritten public offering of 9 mln shares of ts common stock at $3.35 each - a 19% discount to Thursday's closing price. Proceeds will fund Phase III testing of its prospective pancreatic cancer drug as well as other trials.



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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: MOH

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Can You Trust CarFax?
Can You Trust CarFax?               

Stocks

Referenced

100%

Most Active by Volume

127,194,841
  • $16.20 ▲ 4.38%
46,645,059
  • $55.85 ▲ 4.59%
32,116,445
  • $37.26 ▲ 6.09%
31,910,101
  • $10.0973 ▲ 10.11%
27,869,203
  • $35.17 ▲ 1.94%
26,264,558
  • $100.811 ▲ 0.24%
24,474,321
  • $30.09 ▼ 0.79%
22,868,029
  • $8.24 ▲ 1.35%
As of 8/21/2014, 03:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com