Sector Update: Healthcare

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Healthcare shares were mixed in pre-market trade on Wednesday.

In healthcare stocks news, Alkermes ( ALKS ) reported that for Q1, non-GAAP earnings topped Street estimates while revenue fell short.

The integrated, global biopharmaceutical company posted net income of $16.2 million, or $0.11 per share, compared to $56.3 million, or $0.40 per share for the same period in the prior year. The Capital IQ analyst estimate is for $0.10 EPS.


Revenue was $130.2 million, down 20.3% from $163.4 million in the same quarter last year. Analysts were expecting revenue of $136.1 million.

And, Teleflex ( TFX ) reported fiscal Q1 earnings and sales that exceeded analysts' expectations and reaffirmed its guidance for FY14.

The provider of medical technology products said earnings in the quarter ended March 30 said adjusted diluted earnings rose 15.1% to $1.22 per share compared to the $1.16 average estimate from analysts polled by Capital IQ. Sales rose 6.5% to $438.5 million, ahead of the $432 million consensus.

Finally, health benefit company WellPoint ( WLP ) shares were up 2.1% after it reported Q1 2014 GAAP net income of $701 million, or $2.40 per share, down from $885.2 million, or $2.89 per share, in the same period last year. Excluding special items, net income was $2.30 per share, down from $2.94 per share but is still better than the Capital IQ consensus of $2.12.

Operating revenue totaled $17.64 billion, an increase of 1.2% from last year but is slightly weaker than the $17.96 billion analyst forecast.



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: ALKS , TFX , WLP

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