Markets

Health Care Sector Update for 02/11/2019: ALGN,NUVA,NVCN,ACB,ACB.TO

Top Health Care Stocks

JNJ -0.48%

PFE -1.24%

ABT +0.36%

MRK -1.00%

AMGN -0.03%

Health care stocks retreated this afternoon, including a more than 0.4% decline for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were down more than 0.2% as a group while the Nasdaq Biotechnology index was climbing over 0.3%.

Among health care stocks moving on news:

(+) Align Technology ( ALGN ) climbed about 1.5% on Monday after the medical device company said Raj Pudipeddi was selected to be its new chief medical officer, succeeding Raphael Pascaud who was named senior vice president for business development and strategy at the company. Pudipeddi joins Align from leadership roles at Procter & Gamble ( PG ) and India's largest telecom, Bharti Airtel.

In other sector news:

(+) NuVasive ( NUVA ) jumped 13% higher on Monday after the Financial Times reported, citing people with direct knowledge of the talks, that British medical device conglomerate Smith & Nephew ( SNN ) has been discussing a potential buyout of the smaller device company that could be worth over $3 billion.

(+) Neovasc ( NVCN ) advanced 0.5% after saying the Pierangeli clinic in Pescara, Italy, Feb. 4 performed its first implant of the Neovasc Reducer into a 61-year-old male patient who had continued to suffer from refractory angina despite previous transcatheter and myocardial surgeries to treat his chest pain.

(-) Aurora Cannabis (ACB) slumped Monday, falling 6%. The medical marijuana distributor said it recently delivered its first commercial export of cannabis oil to the UK, adding the product also was successfully dispensed from a pharmacy.

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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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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