Markets

Health Care Sector Update for 04/08/2016: MLAB,AVXL,VKTX

Top Health Care Stocks

JNJ -0.31%

PFE -0.89%

MRK -0.69%

ABT -0.23%

AMGN -0.67%

Health care stocks fell today, with the NYSE Health Care Index posting a 0.6% retreat while shares of health care companies in the S&P 500 were down about 0.7% as a group.

In company news, Mesa Laboratories ( MLAB ) was higher Friday after today acquired privately held Autoclave Testing Services and Autoclave Testing Supplies for an undisclosed amount.

The bulk of the acquired business produces small table-top sterilizers used in the dental industry as well as providing on-line access to test results. Mesa estimated the acquisition will add around $1.25 million to its yearly revenue and should increase its per-share earnings during the first 12 months after the transaction closes.

MLAB shares were up more than 3% at $96.24 each, easing from a session high of $97.12 a share.

In other sector news,

(+) AVXL, FDA designates the company's 1-3-propan-1-one compound as an orphan treatment for frontotemporal dementia.

(-) VKTX, Prices $9.3 mln public offering of 7.5 mln shares at $1.25 apiece, a 37.8% discount to Thursday's closing price. Issues one five-year warrant exercisable at $1.25 per share for each share sold.

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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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