Heatlthcare Stocks Inch Onto Positive Ground; BIOLASE Climbs After Canada OKs Its Dental Laser


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Healthcare stocks were nudging into positive territory shortly before the close this afternoon with the NYSE Healthcare Sector Index climbing less than 0.2% and shares of healthcare companies in the S&P 500 adding 0.1% as a group.

In company news, BIOLASE Inc. ( BIOL ) shares are up 15% in late trade at $2.99 a share, climbing as high as $3.55 after dental-laser manufacturer said it received a license from the Health Canada-Medical Device Bureau to sell its EPIC dental soft-tissue diode laser systems throughout Canada.

Chief Executive Federico Pignatelli noted Canada historically has represented one of the company's more robust markets for its high-tech laser products, adding he expects Canada will be a strong contributor to 2014 growth.

In other sector news,

(+) ELMD, Receives FDA market clearance for its next-generation SmartVest Airway Clearance System, a high-frequency chest wall oscillation device for people with cystic fibrosis and other breathing difficulties.

(-) MYGN, The Center for Medicare and Medicaid Services confirms reimbursement cuts for the company's genetic tests for breast-cancer vulnerability. JMP Securities and Mizuho both downgrade the stock; Piper Jaffray and Leerink Swann cut price targets.

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

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

This article appears in: Investing , Commodities

Referenced Stocks: BIOL

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