Health Care Sector Update for 12/13/2016: MOH,AKAO,PRTO

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Top Health Care Stocks

JNJ +0.46%

PFE +1.37%

MRK +0.71%

ABT +0.96%

AMGN +2.11%

Health care stocks continued to rise for a third session in a row, with the NYSE Health Care Index rising nearly 0.7% while shares of health care companies in the S&P 500 also were up 0.9% as a group.

In company news, Molina Healthcare Inc ( MOH ) advanced Tuesday after analysts at Goldman Sach today raised their investment call for the Medicaid-services provider to Buy from Neutral.

The upgrade follow Molina in late October reporting Q3 non-GAAP net income of $0.85 per share, improving on $0.81 per share during the same quarter last year and beating the Capital IQ consensus by $0.09 per share. Total revenue grew 26% over the same quarter last year to $4.55 billion, also topping the analyst mean by around $180 million.

MOH shares were up nearly 4% at $54.83 apiece, slipping well off their 5% gain earlier today to $55.58 a share.

In other sector news,

(+) AKAO, Launches underwritten public offering of 5.75 mln shares of common stock. Net proceeds will fund ongoing development, preparation for potential commercialization of plazomicin.

(-) PRTO, Vonapanitase drug candidate fails to meet primary endpoint of improved primary unassisted patency compared to placebo during Phase III testing.

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: MOH , PRTO

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