Health care stocks:
JNJ: +0.02%, shy of 52 week highs
Healthcare shares are mixed at mid-day. Among them, Cumberland
), 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
And, WellCare Health Plans (
) 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
Finally, Navidea Biopharmaceuticals (
) 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
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.