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.

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: LMNX

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