Markets

Health Care Sector Update for 03/30/2016: XTNT,ARGS,CTRV

Top Health Care Stocks

JNJ -0.03%

PFE +0.08%

MRK +0.36%

ABT -0.34%

AMGN -0.66%

Health care stocks were moderately higher today, with the NYSE Health Care Index advancing only 0.1% although shares of health care companies in the S&P 500 were up about 0.6% as a group.

In company news, Xtant Medical Holdings Inc. ( XTNT ) rallied Wednesday after the biologics company this morning said U.S. regulators have approved its Xspan laminoplasty fixation system for domestic sales.

The new fixation system is intended to enhance fusion during spine surgeries in the lower cervical and upper thoracic parts of the back. The company expects to bring the product to market around mid-year, with a broader general release following later in 2016.

STNT shares were up almost 15% at $2.81 each, backing down from an earlier run today as high as $3.70 a share.

In other sector news,

(+) ARGS, (+18.0%) Reports Q4 net loss of $0.84 per share compared with $0.83 per share loss last year but still beating Street view expecting $0.89 per share net loss. , narrower than the loss of $0.89 projected in estimates compiled by Capital IQ but wider than last year's loss of $16.2 million, or $0.83 a share.

(-) CTRV, (-25.2%) Prices $7 mln public offering of 4.9 mln shares at $1.42 apiece. Deal also included five-year warrants to buy up to 2.5 mln more shares, exercisable at $1.70 each.

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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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