Healthcare Stocks Narrowly Mixed; Team Health Holding Climbs 3% After UBS Begins Coverage with Buy Rating


Shutterstock photo

Top Healthcare Stocks

JNJ -0.15%

PFE -0.22%

ABT -0.08%

MRK -0.75%

AMGN -0.90%

Healthcare stocks were mixed in mid-day trading, with the NYSE Healthcare Sector Index climbing about 0.1% and shares of healthcare companies in the S&P 500 falling less than 0.1% as a group.

In company news, Team Health Holdings ( TMH ) shares were up more than 3% Tuesday after analysts at UBS began coverage of the healthcare staffing company with a Buy rating and a price target of $54 a share.

THM is a likely beneficiary of healthcare reform, according to analysts A.J. Rice, Brandon Fazio and Jailendra Singh. The company also has not reported a decline in same-contract revenue growth in its history, they added, explaining the non-discretionary nature of its emergency medical services - accounting for nearly three-quarters of its total revenue - effectively insulates the business from volume and price pressures seen at other firms in recent years.

Shares were up 3.2% at $46.47 apiece in recent trade, earlier climbing as high as $47.18 a share. The stock has a 52-week range of $33.89 to $48.83 a share.

In other sector news,

(+) LJPC, (+63.9%) Announces positive, top-line results from Phase II testing of its GCS-100 in patients with chronic kidney disease, with a 1.5 milligram per square meter dose resulting in statistically significant improvement in kidney function.

(+) TKMR, (+2.5%) Reverses initial declines that followed the company's disclosing plans to raise around $60 mln in new equity funding from the sale of its common stock. Net proceeds will be used to advance product candidates as well as for general corporate purposes.

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

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by