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Health Care Sector Update for 03/14/2018: HLTH,EVHC,SUPN,SBPH


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Top Health Care Stocks

JNJ-1.56%

PFE-1.20%

ABT-0.57%

MRK-0.12%

AMGN+0.28%

Health care stocks were mostly lower this afternoon, including a nearly 0.7% decline for the NYSE Health Care Index in recent trade. Also today, shares of health care companies in the S&P 500 were down almost 0.6% as a group while the Nasdaq Biotechnology index was losing less than 0.2% today.

Among health care stocks moving on news:

+ Nobilis Health ( HLTH ) advanced on Wednesday, climbing over 3%, after saying its First Surgical Hospital has signed a network contract with one of the largest commercial payors in the United States. "With this agreement, each of Nobilis' 20 Texas facilities and clinics now has an in-network commercial payor contract," President Kenneth Efird said in prepared remarks. The name of the client was not disclosed, although the company said Texas is its largest market, comprising about 85% of system revenue.

In other sector news:

- Envision Healthcare ( EVHC ) fell 9% following reports that UnitedHealth ( UNH ) has dropped out of the bidding war for Envision's ambulatory services unit

- Supernus Pharmaceuticals ( SUPN ) said late Tuesday it plans to offer $350 million of convertible senior notes due 2023 via a private offering. The specialty pharmaceutical firm added it plans to grant the initial purchasers a 30-day option to acquire up to an additional $52.5 million of notes.

+ Spring Bank Pharmaceuticals ( SBPH ) reported positive combined results from two groups of patients of part A of the ongoing phase 2 trial examining the use of its inarigivir soproxil treatment for chronic hepatitis B virus (HBV)

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: HLTH , UNH , SUPN , SBPH



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