Top Health Care Stocks
Health care stocks were edging higher, including a less than 0.1% gain for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were up just under 0.1% as a group while the Nasdaq Biotechnology index was climbing slightly more than 0.1%.
Among health care stocks moving on news:
(-) Abiomed ( ABMD ) fell nearly 6% on Thursday after the cardiac medical device company reported Q4 revenue lagging analyst projections, rising to $207.1 million during the three months ended March 31 from $174.4 million during the same quarter last year but missing the Capital IQ consensus by $11.8 million. It also sees its FY20 revenue increasing 17% to 23% over the prior-year period, projecting between $900 million to $945 million in revenue for the 12 months ending next March. Analysts, on average, are looking for $988.4 million in annual sales.
In other sector news:
(+) ACADIA Pharmaceuticals ( ACAD ) climbed 6% on Thursday after the specialty drugmaker saw its revenue rise 28.8% over year-ago levels to $62.96 million, topping the $60.93 million analyst mean. The company also raised the bottom end of its expected sales range for its Nuplazid medication by $5 million, now looking for between $280 million and $300 million in sales for the Parkinson's treatment.
(+) AmerisourceBergen ( ABC ) rose almost 6% after the pharmaceuticals distributor reported non-GAAP net income of $2.11 per share during its fiscal Q2 ended March 31, up from $1.94 per share during the same quarter last year and beating the Capital IQ by $0.15 per share. It also raised its FY19 earnings outlook by $0.05 on both sides of its prior forecast range, now expecting between $6.70 to $6.90 per share. The Street is at $6.77 per share.
(-) Canopy Growth Corp ( CGC ) fell 5% on Thursday after the Canadian medical marijuana company said it acquired C3 Cannabinoid Compound Co, paying CAD342.9 million in cash for the German prescription medicines company.