Health Care Sector Update for 02/14/2018: MZOR,MAIN,IQV,PIRS

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Top Health Care Stocks

JNJ -0.11%

PFE +0.87%

ABT +1.14%

MRK +0.33%

AMGN +3.08%

Health care stocks still were trending higher, including a nearly 1.2% gain for the NYSE Health Care Index in recent trade. Also today, shares of health care companies in the S&P 500 were slightly more than 1.2% higher as a group while the Nasdaq Biotechnology index was climbing nearly 2.0% today.

Among health care stocks moving on news:

+ Mazor Robotics ( MZOR ) climbed above $60 a share late in Wednesday trading, rising just over 1% to establish a new session high in a somewhat muted response to the surgical tools company reporting a surprise non-GAAP profit of $0.03 per share for the final three months of 2017 compared with the Capital IQ consensus expecting no change from its $0.07 per share net loss during the same quarter last year. Revenue increased 36.4% year over year to $19.1 million, also edging out the $19.0 million analyst mean.

In other sector news:

+ Iqvia Holdings ( IQV ) added more than 8% in value Wednesday, topping out at $108.35 a share, after the health care services company reported non-GAAP Q4 net income reaching $1.40 per share, beating the Capital IQ consensus expecting $1.34 per share. Revenue rose to $2.16 billion from $1.95 billion during the same quarter last year, exceeding the $2.14 billion Street view. The company is projecting adjusted Q1 net income in a range of $1.23 to $1.30 per share, topping the analyst mean by at least $0.03 per share. It sees revenue for the current quarter coming in between $2.42 billion to $2.47 billion, crushing Wall Street expectations looking for $2.04 billion in Q1 revenue. Iqvia also is expecting FY18 revenue surpassing the $8.53 billion analyst mean by at least $1.43 billion.

+ Main Street Capital Corp ( MAIN ) turned slightly higher late Wednesday, reversing small declines from earlier trading that followed the specialty lender saying it has exited all of its equity and debt investments in SoftTouch Medical Holdings LLC, pocketing a net gain of about $5.2 million from the sale to an unnamed sponsor-backed strategic purchaser. Main Street first invested in SoftTouch in October 2014, acquiring $5.0 million in equity as well as $8.5 million of the pediatric home medical equipment company's first-lien, senior secured debt. Those deals generated a total internal rate of return of 24.2% and 1.8 times money invested return, the company said.

- Pieris Pharmaceuticals ( PIRS ) slumped on Wednesday, with the biotech company developing Anticalin-based medications falling over 14% after pricing a $44 million public offering of 5.5 million shares of its common stock at $8 apiece, a 15.3% discount to Tuesday's closing price. It also issued 30-day options to underwriters to buy up to 825,000 additional shares to cover possible overallotments and plans to use the net proceeds to advance development of its PRS-343 drug candiate through Phase I testing as well as expanding its pre-clinical pipeline and discovery operations.

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: MZOR , IQV , MAIN , PIRS

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