Sector Update: Health Care Stocks Fall With Broader Markets; Oxford Immunotec Slips After Q2 Revenue Lags Street

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Healthcare stocks were lower this afternoon with the NYSE Healthcare Sector Index declining around 0.9% and shares of healthcare companies in the S&P 500 also were down 0.9% as a group.

In company news, Oxford Immunotec Global ( OXFD ) was weaker today after the company reported mixed financial results for Q2 ended June 30, 2014, and said it sees Q3 revenue below Street estimates and fiscal 2014 revenue in line.

Shares were down nearly 11% at $15.15 apiece, earlier falling to a session low of $15.00 a share.

The commercial-stage diagnostics company posted Q2 net loss of $6.2 million or $0.36 per share, compared with the prior-year period's $1.0 million or $0.42 per share. Revenue was $11.8 million, up 16% from $10.2 million in the same quarter last year.

Analysts polled by Capital IQ were expecting a loss of $0.20 per share on revenues of $11.38 million.

For Q3, the company expects revenue of $12.4 million - $12.9 million, versus the Street view of $13.36 million. It also anticipates fiscal 2014 revenue of $48 million - $50 million, versus the analysts' estimate of $49.91 million.

In other sector news,

(+) ISR, Reports first major peer-reviewed study of 24 patents with metastitic brain cancer implanted with strands of its Cesium-131 seeds had superior results, fewer complications and improved quality of life compared to other radiation therapies.

(-) RIGL, Q2 net loss of $0.29 per share was $0.06 wider than the Capital IQ consensus. There was no contract revenue from collaborations during the quarter, down from $1.4 mln last year.



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.

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Referenced Stocks: OXFD

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