Sector Update: Health Care

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Healthcare stocks were rising Friday with the NYSE Healthcare Sector Index advancing 0.8% and shares of healthcare companies in the S&P 500 climbing 1.1% as a group.

In company news, Hanger ( HGR ) slid to a new 52-week low Friday after the provider of orthotic and prosthetic patient care services reported below-consensus Q2 profit and revenue.

Adjusted EPS was $0.40 during the quarter, trailing the Capital IQ consensus by $0.13 per share. GAAP net income decreased to $12.6 million, or $0.35 per diluted share, in the April-to-June period, from $14.1 million last year.


Q2 sales increased to $275.9 million from $267.8 million last year but still lagged the Wall Street's consensus of $285.5 million.

HGR shares were down over 25% at $22.38 apiece, earlier sliding to a new 52-week low of $21.02 per share.

In other sector news,

(+) TKMR, FDA removes full hold on the company's potential Ebola drug, allowing some patients to be treated with TKM-Ebola in limited experiments under a new regulatory partial hold.

(-) VOLC, Reports Q2 net loss of $5.5 mln, or $0.10 per share, trailing expectations by $0.05 per share. Revenue of $102.6 mln also fell about $500,000 short. Oppenheimer downgrade to Market Perform from Outperform, cuts price target by $7 to $22 a share.



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: HGR

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