Top Health Care Stocks
Health care stocks were slightly lower in late trade, with the NYSE Health Care Index slipping about 0.1% while shares of health care companies in the S&P 500 were down 0.2% as a group.
In company news, Molina Healthcare Inc. ( MOH ) plunged Thursday after the Medicaid benefits administrator last night reported swung to a surprise Q4 net loss and also guided FY17 net income missing Wall Street expectations.
Excluding one-time items, the company recorded an adjusted net loss of $1.54 per share during the three months ended Dec. 31, reversing a $0.58 per share non-GAAP profit during the year-ago period and lagging the Capital IQ consensus expecting net income of $0.75 per share.
Total revenue rose to $4.46 billion during the three months ended Dec. 31 from $3.87 billion during the same quarter last year, also trailing the $4.56 billion Street view.
The company also is expecting FY17 adjusted earnings of $2.09 per share, well under the Street view looking for $3.69 per share.
MOH shares were down just over 17% at $49.71 each, recovering somewhat from a prior slide to a session low of $48.55 a share.
In other sector news,
(+) CVRS, Signs distribution agreement with a Mitsubishi subsidiary, including an initial order for 12 CorPath GRX Systems and a $2 million advance payment.
(-) CFMS, Q4 net loss of $0.37 per share is $0.06 wider than the Capital IQ consensus. Revenue rises 13.6% year over year to $21.7 mln, exceeding the $21.32 mln Street view. Guides Q1, FY17 revenue below analyst means.
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