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Health Care Sector Update for 02/26/2019: NVCN, THC, MNK, JNJ, PFE, ABT, MRK, AMGN

Top Health Care Stocks:

JNJ: -0.04%

PFE: -0.42%

ABT: Flat

MRK: Flat

AMGN: +0.10%

Top health care stocks were mixed pre-market Tuesday.

Stocks moving on news include:

(-) Neovasc ( NVCN ), which was sinking by more than 28% after the medical device company priced an underwritten public offering of 11.11 million shares at $0.45 apiece, a discount of about 28.6% to the stock's previous close, for total proceeds of approximately $5 million.

(+) Tenet Healthcare ( THC ) was trading more than 14% higher after reporting non-GAAP Q4 net income from continuing operations of $0.51 per share, down from $1.40 per share during the final three months of 2017 but still exceeding the Capital IQ consensus looking for an adjusted profit of $0.29 per share for the October-to-December quarter.

(+) Mallinckrodt ( MNK ) was up more than 11% following the release of its financial results for Q4, with earnings and revenue that both topped analysts' expectations; it also provided earnings guidance for fiscal 2019 above Street estimates. For the quarter ended Dec. 28, the company posted adjusted earnings of $2.18 per share.

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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