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

By Staff,

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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.

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

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

This article appears in: Investing Commodities
Referenced Stocks: SCAI

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