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Sector Update: Healthcare Mixed Pre-Market; Medtronic's Results in Line with Estimates

Posted
8/20/2013 8:09:00 AM
By: MT Newswires
Referenced Stocks:DSKX;MDT;PDII

Top Healthcare Stocks:

JNJ: flat

PFE: +0.21%

ABT: flat

MRK: -0.59%

AMGN: -0.20%

Healthcare shares are mixed flat in pre-market trade. Medtronic ( MDT ) reported Q1 EPS that came in line with consensus forecasts but was just shy on revenue. MDT is flat at $54.10.

Net earnings and diluted earnings on a non-GAAP basis were $898 million, or $0.88, up 2% and 4%, respectively, over the same period last year. Revenue was $4.083 billion, compared to the $4.008 billion last year and just under the $4.1 billion analysts had been looking for.

And, PDI, Inc. ( PDII ) is flat at $27.35 pre-market as it says it signed a collaboration agreement with a privately held molecular diagnostics company to commercialize the company's molecular diagnostic tests. The initial test to be commercialized is fully developed. PDII has paid the company an initial fee of $1.5 million and has received an option to purchase the company.

Finally, DS Healthcare Group ( DSKX ) said Q2 earnings said its net loss widened to $0.06 per share from a loss of $0.03 a year ago. Net revenues fell 2% to $3.43 million due to a new company policy of extending credit to new and existing customers.