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Health Care Sector Update for 08/28/2018: DGX,WMGI,DVAX


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Top Health Care Stocks

JNJ -0.27%

PFE +0.04%

ABT -0.15mrk%

MRK -0.41%

AMGN -0.15%

Health care stocks were putting up small gains on Tuesday, including a nearly 0.1% gain for the NYSE Health Care Index in recent trading. Also, shares of health care companies in the S&P 500 were up almost 0.1% as a group while the Nasdaq Biotechnology index also was 0.1% higher.

Among health care stocks moving on news:

- Quest Diagnostics ( DGX ) has turned narrowly higher again Tuesday afternoon, retracing a slim gain earlier in the session that followed the diagnostic testing company, through its Summit Health subsidiary, announcing a $27 million "stalking horse" bid for Provant Health. Under the deal, Quest will acquire substantially all of Provant's assets and will continue Provant's service offerings. Provant petitioned for Chapter 11 bankruptcy protection on Monday.

In other sector news:

+ Wright Medical Group NV ( WMGI ) was almost 5% higher Tuesday afternoon after analysts at Needham & Co raised their investment rating for the medical device company to Buy from Hold. The upgrade followed the company earlier Tuesday pricing a nearly $450 million public offering of 18.25 million shares of its common stock at $24.60 apiece, representing an 8.2% discount to Monday's closing price.

- Dynavax Technologies ( DVAX ) was little changed Tuesday afternoon, giving back a small gain earlier in choppy trade despite the company presenting positive data in a pair of peer-reviewed papers for its SD-101 drug candidate in combination with low dose radiation or a PD-1 blockcade in patients with indolent lymphoma or unresectable or metastatic melanoma.

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: DGX , WMGI , DVAX



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