Sector Update: Healthcare

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Healthcare stocks are moderately lower, with the NYSE Healthcare Sector Index falling about 0.4% and shares of healthcare companies in the S&P 500 slipping 0.4% as a group.

In company news, Nxstage Medical ( NXTM ) is down more than 17% at $10.24 a share, sliding to its worst price since March 2010 after the home-dialysis company disappointed investors with its Q3 earnings and guided its Q4 results below estimates.

NXTM turned in a net of $0.08 per share, lagging the Capital IQ consensus by $0.02. Revenue rose 9.5% year over year to $66.9 million, edging out the analysts' view by around $140,000.

The medical device manufacturer is projecting a Q4 net loss of $0.08 to $0.10 per share, or at least $0.03 wider than the analyst consensus. Revenue is seen in a range of $67 million to $68.5 million, trailing estimates by at least $2.73 million. NXTM executives also said they are hoping for 15% growth in the company's home-based revenue as a result of increased direct-to-patient marketing and other initiatives.

In other sector news,

(+) GERN, (+57.8%) Mayo Clinic study of its Imetelstat drug candidate found an overall response of 44% in the 18 patients with myelofibrosis evaluable for response, including four patients with complete remissions and another with a partial remission.

(-) BIOS (-17.5%) Break-even Q3, ex items, trails Street view by $0.03. Lowers top end of FY13 revenue forecast by $15 mln to a new range of $830 mln to $850 mln - still in-line with estimates expecting $839.34 mln in revenue.



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: NXTM

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