Sector Update: Healthcare Shares Mixed On Results; Cumberland Down 14%, WellCare Hits 52 Week Highs, Navidea Down 4%


Health care stocks:

JNJ: +0.02%, shy of 52 week highs

PFE: +0.07%

ABT: -0.4%

MRK: +0.37%

AMGN: -0.8%

Healthcare shares are mixed at mid-day. Among them, Cumberland Pharmaceutical ( CPIX ), which focuses on commercializing branded prescription products, is down about 14% at $4.78 after it reported worse-than-expected results for Q2 late Tuesday.

The company swung to a net loss of $0.6 million, or $0.03 per share, compared with a profit of $0.9 a year ago. Analysts had expected a profit of $0.02. Q2 net revenue declined to $7.1 million from $12.4 million for the prior year period, below forecasts for $9.4 million.

And, WellCare Health Plans ( WCG ) is up near 10% at $66.40, having marked a 52-week high at $68.17, after it reported Q2 earnings of $1.35 per share, versus the Capital IQ consensus of $1.22. Revenues were $2.33 billion, versus the analyst estimate of $2.28 billion.

The company now expects FY13 EPS of $4.70 - $4.90, up from the prior guidance range of $4.60 - $4.90, versus the consensus of $4.85. Shares are up 8.34% at $65.62 with a 52-week range of $44.75 - $64.29.

Finally, Navidea Biopharmaceuticals ( NAVB ) shares are down 4% as it reported a Q2 loss of $0.09 per share, missing estimates for $0.06 loss. Sales were $195,000, up from $60,000 a year ago. Shares, flat in pre-market, closed down 2% at $2.97 yesterday.

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.

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

This article appears in: Investing , Commodities

Referenced Stocks: CPIX , NAVB , WCG

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