Healthcare Stocks Underwater; Nxstage Medical Falls 17% Following Below-Consensus Q4 Outlook


Top Healthcare Stocks

JNJ -0.18%

PFE +0.36%

ABT +0.89%

MRK +0.12%

AMGN -0.89%

Healthcare stocks are moderately lower, with the NYSE Healthcare Sector Index falling about 0.4% and shares of healthcare companies in the S&P 500 slipping 0.4% as a group.

In company news, Nxstage Medical ( NXTM ) is down more than 17% at $10.24 a share, sliding to its worst price since March 2010 after the home-dialysis company disappointed investors with its Q3 earnings and guided its Q4 results below estimates.

NXTM turned in a net of $0.08 per share, lagging the Capital IQ consensus by $0.02. Revenue rose 9.5% year over year to $66.9 million, edging out the analysts' view by around $140,000.

The medical device manufacturer is projecting a Q4 net loss of $0.08 to $0.10 per share, or at least $0.03 wider than the analyst consensus. Revenue is seen in a range of $67 million to $68.5 million, trailing estimates by at least $2.73 million. NXTM executives also said they are hoping for 15% growth in the company's home-based revenue as a result of increased direct-to-patient marketing and other initiatives.

In other sector news,

(+) GERN, (+57.8%) Mayo Clinic study of its Imetelstat drug candidate found an overall response of 44% in the 18 patients with myelofibrosis evaluable for response, including four patients with complete remissions and another with a partial remission.

(-) BIOS (-17.5%) Break-even Q3, ex items, trails Street view by $0.03. Lowers top end of FY13 revenue forecast by $15 mln to a new range of $830 mln to $850 mln - still in-line with estimates expecting $839.34 mln in revenue.

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

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

This article appears in: Investing , Commodities

Referenced Stocks: NXTM

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