Sector Update: Healthcare

By Staff,

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Healthcare shares are fairly flat in pre-market trade.

In healthcare stocks news, shares of McKesson Corp ( MCK ) are up 7% at $152.99 after the company signed an agreement to acquire a majority stake in German company Celesio for $8.3 billion. Separately, the company posted FQ2 EPS of $2.27 on revenue of $33 billion, beating Capital IQ estimates for $2.04 in EPS on $32 billion in revenue.

And, Celgene Corporation ( CELG ) reported Q3 2013 total revenue of $1.674 billion compared to $1.419 billion in Q3 2012. For the same period, adjusted diluted earnings per share ( EPS ) increased 21% to $1.56 from $1.29.

Analysts expected $1.53 in earnings for Q3 and revenue of $1.63 bln, according to Capital IQ.

CELG is up 2% at $163.45, a new 52-week high. For 2013, Celgene expects $5.90 to $5.95, straddling the $5.94 per share the Street expects, according to Capital IQ estimates.

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
Referenced Stocks: CELG , EPS , MCK

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