Healthcare Stocks Ending Mostly Lower; HealthSouth Spin-Out Completing First Day with 9% Gain

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Top Healthcare Stocks

JNJ -0.26%

PFE -0.90%

ABT -0.95%

MRK -0.56%

AMGN -1.07%

Healthcare stocks are mostly lower with the NYSE Healthcare Sector Index falling 0.6% and shares of healthcare companies in the S&P 500 giving up 0.5% as a group.

In company news, Surgical Care Affiliates, Inc. ( SCAI ) is up nearly 9% near the end of its first day as a public company, with shares of the outpatient surgery adding $2.11 from it IPO price of $24.00 each.

SCAI earlier priced its initial public offering at the mid-point of its expected range, raising $220 million in gross proceeds for the one-time affiliate of HealthSouth Corp, spun out over five years ago using funds also received from private equity firms.

In other sector news,

(+) NUVA, Q3 EPS of $0.39 beats by $0.15. Revenue climbs 14.0% to $169.2 mln, topping the consensus view by $10.76 mln. Raises FY13 EPS guidance by $0.14 to $1.14 per share, boosts revenue forecast by $15 mln to $670 mln, both topping consensus estimates.

(-) PRXL, Q1 GAAP earnings of $0.45 per share match estimates by $449.2 mln in revenue misses by $7.11 mln. Projected Q2 earnings match consensus while revenue is seen exceeding Street view by $2.21 mln. Issues in-line FY14 earnings, revenue guidance.



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This article appears in: Investing , Commodities

Referenced Stocks: SCAI

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