Sector Update: Healthcare Shares Lower; Progenix Narrows Q2 Net Loss


Shutterstock photo

Healthcare stocks:

JNJ: -0.15%

PFE: -0.24%

ABT: flat

MRK: -0.04%

AMGN: -1.09%

Healthcare shares are lower in pre-market trade. RadNet ( RDNT ) reported Q2 2013 net income of $2.7 million, or $0.07 per diluted share, compared to a net income of $2.9 million, or $0.07 per diluted share, in the same period last year.

Net service fee revenue totaled $176.5 million versus $165.4 million in the prior-year period. No analyst estimates were available for comparison. For 2013, RadNet reaffirmed its revenue guidance of $700 million - $730 million. RDNT is flat at $3.16 in pre-market.

And, Horizon Pharma ( HZNP ) reports net sales for Q2 2013 were $17.6 million and $12.3 million, respectively, increases of 64% and 34%, respectively, versus Q1 2013. HZNP is flat at $2.42 pre-bell.

Non-GAAP net loss for Q2 2013, was $15.0 million, or $0.24 per share, compared to a non-GAAP net loss of $20.6 million, or $0.62 per share, for Q2 2012. Analysts expected a loss of $0.32 per share on 16.09 million in revenue.

Finally, Progenix Pharmaceuticals ( PGNX ) reported a Q2 net loss of $12.3 million, or $0.24 diluted per share, compared to net loss of $10.7 million, or $0.32 last year, and bang in line with expectations.

Q2 revenue totaled $1.8 million, unchanged from the 2012 period and just shy of forecasts for $1.86 million. The shares closed down 8% on Thursday at $5.27, but remain in the upper band of the 52-week range of $1.41 - $6.47.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities
More Headlines for: HZNP , PGNX , RDNT

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by