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Health Care Sector Update for 07/21/2016: TRIB,RLYP,SSH


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Health care stocks were slightly higher today, with the NYSE Health Care Index adding about 0.1% while shares of health care companies in the S&P 500 were rising 0.3% as a group.

In company news, Trinity Biotech plc ( TRIB ) American depository shares were trading near their session peak this afternoon despite the diagnostics company earlier today posting mixed Q2 financial results.

Excluding one-time items, Trinity earned reports $0.06 per share during the April-to-June quarter, coming in $0.01 per share shy of analyst expectations. But the company also produced an 8% increase in revenue over year-ago levels to $26.3 million, topping the $24.68 million Capital IQ consensus.

The company said it re-purchased about 406,000 ADS during the quarter, spending $4.5 million, or an average of $11.14 per share, under the stock buyback program that began in March.

TRIB shares were up nearly 10% at $12.02 each, staying within 7 cents of their recent session high.

In other sector news,

(+) RLYP, (+58.5%) Agrees to $1.53 bln buyout offer from Galenica, which will pay $32 for each RLYP share, a 59% premium over Wednesday's closing price.

(-) SSH, (-25.9%) Launches $3.47 mln direct offering of 3,468 shares of Series B convertible preferred stock, which are convertible into 3.69 mln shares at 94 cents apiece. Also issues three-year warrants to buy up to 3.69 mln more shares, also at 94 cents per share.

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: TRIB ,


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