Health Care Sector Update for 05/01/2019: NBRV,TDOC,HCSG

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Top Health Care Stocks

JNJ +0.23%

PFE +0.18%

ABT -0.83%

MRK +0.61%

AMGN -3.21%

Health care stocks were mixed, including a more than 0.2% decline for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 were up fractionally as a group while the Nasdaq Biotechnology index was up 0.2%.

Among health care stocks moving on news:

(-) Nabriva Therapeutics ( NBRV ) plunged as much as 26% on Wednesday after the biopharmaceuticals company said the US Food and Drug Administration told the company it needed to address certain issues before the agency could grant marketing approval of the company's Contepo injection for complicated urinary tract infections.

In other sector news:

(+) Teladoc ( TDOC ) was 3% higher this afternoon, giving back a large portion a 12.5% gain earlier Wednesday. The online health care company reported a Q1 net loss of $0.43 a share, wider than the year-earlier $0.39 a share but still beating the Capital IQ consensus expecting a $0.44 a share net loss.

(-) Healthcare Services Group ( HCSG ) slid over 6% on Wednesday after the nursing home services company missed Wall Street estimates with it Q1 net income and revenue and prompting Credit Suisse to lower its price target on its stock by $4 to $41 a share. The company earned $0.12 per share during the three months ended March 31 on $476.1 million in sales, trailing the Capital IQ consensus looking for a $0.36 per share profit on $489.6 million in reveue.

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: NBRV , TDOC , HCSG

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