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Health Care Sector Update for 11/01/2018: SNN,TEVA,PKI


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Top Health Care Stocks

JNJ +0.86%

PFE +1.54%

ABT +1.49%

MRK -0.83%

AMGN +0.13%

Health care stocks were advancing, including a 1% gain for the NYSE Health Care Index in recent trade. Also, shares of health care companies in the S&P 500 were up more than 1% as a group while the Nasdaq Biotechnology index was ahead 3.6%.

Among health care stocks moving on news:

(+) Smith & Nephew ( SNN ) was rising almost 9% after the medical device company announced improved Q3 revenue, advancing 2% over year-ago levels on a reported basis to $1.17 billion.

In other sector news:

(+) Teva Pharmaceutical Industries ( TEVA ) was 13% higher in recent trading after the drugmaker reported adjusted Q3 net income of $0.68 per American depositary share, down from $1 per ADS but topping the Capital IQ consensus by $0.14 per share.

(-) PerkinElmer's ( PKI ) fell 8.4% after the medical diagnostics company reported adjusted Q3 net income of $0.90 per share, improving on a $0.73 per share during the year-ago period but still missing the Capital IQ consensus by $0.02 per share. Revenue rose to $674.3 million from $554.3 million a year ago but also came up shy of the $676.72 million analyst mean.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , US Markets
Referenced Symbols: SNN , TEVA , PKI



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