Sector Update: Health Care Stocks Mostly Higher Near Bell; Vascular Solutions Up Almost 10% After Q2 EPS Beat, Q3 Outlook

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Top Healthcare Stocks

JNJ -0.09%

PFE -0.16%


ABT -0.19%

MRK -0.50%

AMGN +0.78%

Healthcare stocks were mostly higher with the NYSE Healthcare Sector Index adding about 0.1% but shares of healthcare companies in the S&P 500 were climbing nearly 0.9% as a group.

In company news, Vascular Solutions ( VASC ) was holding on to strong gains in late trade Wednesday after reporting Q2 per-share earnings that beat analyst estimates and forecast EPS for the current quarter also topping the Street view.

The medical device company producing cardiovascular products earned $0.20 per share during the three months ended June 30, topping the Capital IQ consensus by $0.02 per share. Revenue climbed 12.0% over the same quarter last year $30.7 million, nudging out estimates by around $270,000.

For the current quarter ending in September, VASC is projecting EPS in a range of $0.19 to $0.20, topping estimates by at least $0.01 per share. Revenue is seen in a range of $30.5 million to $31.5 million, in-line with the Street view expecting $31.05 million in quarterly revenue.

VASC shares were up nearly 10% at $24.55 apiece shortly before the closing bell after earlier climbing to a session high of $25.35 a share.

In other sector news,

(+) PBYI, Revises license pact with Pfizer ( PFE ) for its Neratinib drug candidate after the prospective cancer treatment improved disease-free survival by 33% compared with a placebo during testing in 2,821 women with early-stage breast cancer.

(-) CNMD, Lowers FY14 earnings outlook by $0.05 to a new range of $1.85 to $1.95 per share. Street is at $1.94. Revenue guidance cut 4.5%. Ends strategic review without making any moves. CEO Joe Coasanti quits. Q2 EPs, revenue both miss estimates.



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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This article appears in: Investing , Commodities

Referenced Stocks: VASC , PFE

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