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Healthcare Stocks Holding Late Gains; DexCom Climbs to 52-Week High After Narrowed Q2 Net Loss

By: MT Newswires
Posted: 8/8/2013 3:54:00 PM
Referenced Stocks: DXCM

Top Healthcare Stocks

JNJ -0.41%

PFE -0.36%

ABT -0.04%

MRK -0.03%

AMGN -1.83%

Healthcare stocks are ending slightly higher with the NYSE Healthcare Sector Index climbing about 0.3% while shares of healthcare companies in the S&P 500 are up 0.2% as a group.

In company news, DexCom Inc. ( DXCM ) is up more than 23% at $27.11 a share, earlier setting a 52-week high of $27.96 after the medical device company narrowed its Q2 net loss compared to its year-ago results and revenue surged.

The maker of continuous glucose monitors reported Q2 revenue of $35.8 million, up 53% from the year-ago quarter. The net loss was $0.14, a 33% decline from last year's $0.21 per share loss.

Analysts, on average, were looking for a $0.13 per share net loss on $32.4 million in revenue.

In other sector news,

(+) XON, Synthetic-biology startup soars over 50% after pricing an upsized initial public offering of 10 million shares at $16 each.

(-) ARRY, Narrows fiscal Q4 net loss compared to last year's results, also beating analyst estimates. Revenue climbs 22.7% year over year to $25.4 million, also beating expectations.