Top Healthcare Stocks
Health care stocks were narrowly higher Thursday with the NYSE
Health Care Sector Index rising less than 0.1% and shares of health
care companies in the S&P 500 climbing about 0.1% as a
In company news, Neogenomics Inc. (
) leapt to a record high Thursday after cancer-focused genetics
testing company reported Q2 revenue topping analyst estimates and
raising its revenue forecast for the fiscal year ending in
NEO shares recently were ahead 23.5% at $5.41 each, earlier
rising nearly 26% to reach a new, all-time high at $5.51 a share.
Over the past 12 months, the stock has risen 65.6% in value.
Revenue for the three months ended June 30 rose 32.7% year over
year to $20.7 million, beating the Capital IQ consensus by around
$580,000 and the company overcoming a $1.05 million drop in revenue
resulting from its interpretation of conflicting Medicare billing
rules for genetic tests used to identify the presence or absence of
specific DNA sequences on chromosomes.
Net income for the quarter was $274,000, or $0.01, little
changed from year-ago levels and matching the Street consensus for
For the current quarter ending in September, NEO is projecting
revenue in a range of $22 million to $23.5 million, topping the
analyst view by at least $400,000. It sees per-share earnings a
penny either side of breaking even, straddling estimates looking
for $0.00 per share.
The company also now expects between $83 million to $86 million
in FY14 revenue, beating estimates by at least $2.31 million. EPS
is seen by NEO in a range of $0.00 to $0.03, in-line with Wall
Street expectations for a $0.02 per share profit this year.
In other sector news,
(+) BLFS, (+24.0%) Announces three-year pact with Somahlution
LLC to manufacture its DuraGraft medical devices to store blood
vessels used in coronary artery bypass procedures. Financial terms
were not disclosed.
(-) CBAY, (-8.2%) Plans public offering of 3.5 mln shares of its
common stock, with the $18.9 mln in expected net proceeds slated to
support ongoing development of its MBX-8025 drug candidate to treat
dyslipidemia, steatohepatitis and type 2 diabetes.
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