Healthcare stocks were broadly higher Tuesday with the NYSE
Healthcare Sector Index gaining 1.4% near the close and shares of
healthcare companies in the S&P 500 advancing over 1.5% as a
In company news, Centene (
) was holding on to a double-digit advance just ahead of the
closing bell Tuesday after beating analyst estimates with its Q!
The Medicare-services provider reporting per-share net income of
$0.57 per share during the three months ended March 31, besting the
Capital IQ consensus by $0.12 per share. Revenue rose 31.9% year
over year to $3.35 billion, exceeding expectations by around $100
Looking to FY14 ending in December, CNC said it expects
per-share earnings of between $3.60 and $3.90, in-line with the
Street view anticipating $3.62 per share. Revenue is seen rising as
much as 36% over the prior year to a range of $14.2 billion to
$14.8 billion for the year, also bracketing the analyst consensus
expecting around $14.58 billion in revenue this year.
CNC shares were up 12.3% at $64.33 each shortly before the
closing bell, earlier climbing to a session high of $67.34, or just
50 cents off its 52-week high.
In other sector news,
(+) IMUC, Abstract describing Phase II trial of its ICT-107
dendritic cell-based cancer vaccine in newly diagnosed glioblastoma
was accepted for oral presentation at the American Society for
Clinical Oncology meeting in late May.
(-) AZN, Reportedly rebuffs a $100 billion takeover offer by
), giving back a portion of Monday's 8% advance. Neither company
has confirmed the market rumors.