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Sector Update: Healthcare

By: MT Newswires
Posted: 8/2/2013 8:05:00 AM
Referenced Stocks: IMGN;SIRO

Healthcare shares are flat this pre-market. ImmunoGen ( IMGN ) is up more than 3% at $20.00, a new 52-week high, in pre-market trade after it reported a Q4 loss of $0.26 per share, versus the Capital IQ consensus of $0.30 loss per share. Revenues were $3.83 million, in line with analyst estimates. The company expects FY14 revenues of $66 million - $70 million, versus the Street view of $49.9 million.

And, Sirona Dental Systems ( SIRO ) reported Q3 earnings of $0.91 per share, in line with the Capital IQ consensus estimate. Revenues were $283.2 million, versus the analyst estimate of $282.14 million.

The company also FY13 EPS of $3.36 - $3.43 versus the Street view of $3.41 EPS. It sees constant currency revenue growth of 10% - 12%.

Separately, SIRO announced that Ulrich Michel will join the company as chief financial officer, effective October 14, 2013. He will succeed Simone Blank, who will step down as CFO and board member. Shares closed at $72.30 with a 52-week range of $42.11 - $75.81.