Top Healthcare Stocks
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 (
) 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
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
In other sector news,
(+) PBYI, Revises license pact with Pfizer (
) 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
(-) 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.
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