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.

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

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