Health Care Sector Update for 02/13/2019: CRL,TEVA,EXEL,BABY

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Top Health Care Stocks

JNJ +0.45%

PFE -0.24%

ABT -0.81%

MRK +0.66%

AMGN +0.56%

Health care stocks were tipping higher, including a nearly 0.3% gain for the NYSE Health Care Index in late trade. Shares of health care companies in the S&P 500 also were up more than 0.5% as a group while the Nasdaq Biotechnology index was climbing almost 0.6%.

Among health care stocks moving on news:

(+) Charles River Laboratories International ( CRL ) was surging Wednesday, climbing almost 8%, after the contract research organization said it was acquiring Citoxlab for EUR448 million in cash. Citoxlab specializes in regulated safety assessment services, non-regulated discovery services, and medical device testing and is expected to add $115 million to $130 million to Charles River's FY19 consolidated revenue as well as boosting its non-GAAP net income this year by $0.15 per share.

In other sector news:

(+) Exelixis ( EXEL ) was nearly 2% higher after reporting an increase in adjusted Q4 net income to $0.37 from $0.12 per share during the year-ago period and cruising past the $0.23 per share Street view.

(-) Teva Pharmaceutical Industries ( TEVA ) dropped 7% on Wednesday after the Israeli generic drug maker reported non-GAAP Q4 net income of $0.53 per share, down from $0.93 per share during the final three months of 2017 and trailing the Capital IQ consensus by $0.02 per share.

(-) Natus Medical ( BABY ) slid 12% after the medical device company reported lower-than-expected net income and issued Q1 and FY19 outlooks also lagging Wall Street forecasts. Excluding one-time items, Natus earned $0.43 per share, up from $0.42 per share during the year-ago period but trailing the Capital IQ consensus by $0.06 per share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , US Markets
Referenced Symbols: CRL , EXEL , TEVA , BABY

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