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Health Care Sector Update for 02/24/2015: ESRX,BIOC,CBAY


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Top Health Care Stocks

JNJ +0.31%

PZE -0.84%

MRK +0.15%

ABT -0.33%

AMGN -0.90%

Health care stocks were mostly lower, with the NYSE Health Care Sector Index dropping 0.2% and shares of health care companies in the S&P 500 retreating 0.3% as a group.

In company news, Express Scripts ( ESRX ) rose to a new record high Tuesday after the pharmacy benefits company reported Q4 financial results above Wall Street expectations.

Net income during the three months ended reported Q4 adjusted earnings of $1.39 per share, a penny better than the analyst consensus on Capital IQ. Revenue was

Revenue grew 2.1% from year-ago levels to $26.3 billion, topping analyst estimates by around $700,000.

For the current quarter ending in March, ESRX is forecasting adjusted per-share earnings of between $1.07 to $1.11 per share, lagging the Street view by at least $0.05 per share.

Looking to forward to FY15, the company is projecting adjusted EPS in a range of $5.35 to $5.49 per share, straddling the $5.44 per share consensus..

ESRX shares were up nearly 1% at $87.37 apiece, earlier climbing to a best-ever $88.83 a share. Prior to Tuesday's trading, the stock already had risen about 17% over the past 12 months.

In other sector news,

(+) EYES, (+17.2%) Makes the first commercial implants of its Argus II retinal prosthesis system in 36 French patients with retinitis pigmentosa and the French government nearing reimbursement for the procedure.

(-) CBAY, (-18.4%) Said in a call with analysts its experimental gout drug did not reduce uric acid levels better than the current standard of care, reducing chances of developing the company's lead drug as a standalone therapy.

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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