Healthcare Stocks Little Changed Near Bell; LipoScience Plunges After Weak Q2, Reduced FY13 Guidance


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Top Healthcare Stocks

JNJ +0.37%

PFE +0.76%

ABT -0.33%

MRK -0.26%

AMGN -0.70%

Healthcare stocks are narrowly mixed in late trade with the NYSE Healthcare Sector Index adding less than 0.1% with shares of healthcare companies in the S&P 500 down 0.1% as a group.

In company news, LipoScience ( LPDX ) is down nearly 11% shortly before the close at $5.74 a share after the in-vitro diagnostics company issuing downside revenue guidance for the three months that ended in June as well as lowering its FY13 outlook.

LPDX now sees Q2 revenue of around $13.3 million, near the bottom of its prior guidance for the quarter and trailing the consensus analyst call looking for $13.74 million in Q2 revenue. It also cut its forecast for FY13 revenue by $2 million from its previous outlook, now guiding for $52 million to $54 million in sales this year.

Analysts, on average, are expecting LPDX to generate around $55.37 million in FY13 revenue.

The company today also said that Richard Brajer has stepped down as president and CEO to pursue other interests with board member Robert Greczyn taking the posts on an interim basis. The LPDX board plans to begin a search for a permanent CEO immediately.

In other sector news,

(+) UPI, Medicare administrative contractor Novitas Solutions expands coverage for posterior tibial nerve stimulation using UPI's Urgent PC neuromodulation system to treat overactive bladder and associated symptoms.

(-) ONVO, Prices offering of 9 million shares of its common stock at $4.50 apiece, generating $40.5 million in gross proceeds.

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

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