Top Health Care Stocks
Health care stocks were rising in late trade, reversing their mid-day decline. At last look, the NYSE Health Care Index was climbing nearly 0.5% this afternoon while shares of health care companies in the S&P 500 also were up slightly more than 0.7% as a group. The Nasdaq Biotechnology index was ahead over 0.9%.
Among health care stocks moving on news:
(+) Insulet (PODD) was over 5% higher after BTIG announced an upgrade of the medical device company to buy, up from its previous neutral investment recommendation. The BTIG analysts also established a $115 price target for the stock.
In other sector news:
(+) Esperion Therapeutics (ESPR) jumped nearly 12% higher after the biotechnology firm Monday said the US Food and Drug Administration has accepted the new drug applications for its bempedoic acid and its bempedoic acid and ezetimibe combination tablet for the treatment of low-density lipoprotein cholesterol in patients who need more help lowering their cholesterol level despite using other therapies.
(+) Bausch Health Companies (BHC) rose over 9% after the Canadian eye care company Monday reported non-GAAP Q1 net income of $1.03 per share, improving on an $0.88 per share non-GAAP profit during the same quarter last year, according to Capital IQ, and beating the CapIQ consensus by $0.17 per share. It also raised its FY19 revenue outlook by $50 million on both sides of its prior forecast range, now projecting between $8.35 billion to $8.55 billion, straddling the $8.47 billion analyst view.
(-) HMS Holdings Corp (HMSY) was down 3% this afternoon. Credit Suisse raised its price target for the health care cost-containment firm by $1 to $36 per share and also reiterated its outperform rating for the company's stock.