Sector Update: Healthcare

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Healthcare stocks were moderately higher Tuesday afternoon, with the NYSE Healthcare Sector Index rising about 0.1% and shares of healthcare companies in the S&P 500 gaining around 0.6% as a group.

In company news, shares of Luminex Corp ( LMNX ) rallied Tuesday after the biological testing company recorded Q1 earnings and revenue that blew by analyst estimates.

LMNX earned $0.24 per share during the three months ended March 31, excluding non-recurring items, beating the Capital IQ consensus by $0.14. Revenue grew 6.4% over year-ago levels to $56.6 million, beating the Street view by around $1.15 million.

The company also reaffirmed its FY14 outlook, expecting revenue this year in a range of $225 million to $240 million, bracketing the $230.14 million consensus.

LMNX shares were up just more than 20% at $19.11 each in mid-day trade, easing slightly from its $19.56 session high. The stock has a 52-week range of $15.39 to $24.10 a share, climbing 17.7% over the past 12 months.

In other sector news,

(+) NVAX, (+13.1%) Announces positive top-line data from Phase II testing of its respiratory syncytial virus vaccine candidate in women of childbearing age, saying the drug was well-tolerated, with no vaccine-related serious adverse events.

(-) QCOR, (-2.8%) Q1 EPS of $1.40 lags the Capital IQ consensus estimate by $0.21 per share. Revenue rises 68.1% year over year to $227.1 mln but still misses expectations by around $13.61 mln.



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This article appears in: Investing , Commodities

Referenced Stocks: LMNX

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