Markets
MRK

Health Care Sector Update for 05/01/2018: THC,AET,MRK,PFE

Top Health Care Stocks

JNJ -0.89%

PFE -3.92%

ABT +0.71%

MRK -2.37%

AMGN -3.21%

Health care stocks still were lower Tuesday afternoon, including a more than 0.1% decline for the NYSE Health Care Index in recent trade. Also today, shares of health care companies in the S&P 500 were down about 0.3% as a group while the Nasdaq Biotechnology index has turned slightly higher in late trade, rising nearly 0.2% today.

Among health care stocks moving on news:

+ Tenet Healthcare Corp ( THC ) rallied Tuesday, at one point climbing almost 24%, after posting a surprise non-GAAP Q1 profit and raising its outlook for adjusted FY18 per-share earnings. Excluding one-time items, the health care services company earned $0.57 per share from continuing operations during the three months ended March 31, reversing a non-GAAP net loss of $0.27 per share during the year-ago period and topping the Capital IQ consensus expecting a $0.04 per share net loss. Net operating revenue fell 2.4% year over year to $4.67 billion, also beating the $4.56 billion Street view. The company also raised its adjusted FY18 earnings outlook to $1.36 to $1.70 per share, up from its prior view expecting non-GAAP EPS between $0.73 to $1.07 per share. It sees revenue this year coming in between $17.9 billion to $18.3 billion. Analysts, on average, are looking for a non-GAAP profit of $0.92 per share on $18.09 billion in revenue.

In other sector news:

- Aetna ( AET ) has turned slightly lower Tuesday afternoon, easing from a 1% advance earlier in the session that followed the health care insurance company reporting Q1 adjusted net income topping Wall Street forecasts. Excluding one-time items, the company earned $3.19 per share during its January-to-March fiscal period, up from $2.71 per share during the same quarter last year period and beating the Capital IQ consensus call by $0.18 per share. Revenue rose to $15.34 billion from $15.17 billion last year, matching analyst estimates.

- Merck & Company ( MRK ) declined after reporting Q1 revenue falling short of analyst projections, upstaging above-consensus earnings and the company raising its guidance for FY18 financial results. Excluding one-time items, the company earned $1.05 per share on $10.04 billion in revenue. Analysts, on average, were modelling a $1.00 per share adjusted profit on $10.09 billion in revenue. The drugmaker is now expecting non-GAAP FY18 earnings in a range of $4.16 to $4.28 per share on between $41.8 billion to $43 billion in revenue, up from $4.08 to $4.23 per share on $41.2 billion to $42.7 billion in its prior forecast. The Street is at $4.19 per share on $42.86 billon in revenue.

- Pfizer ( PFE ) fell Tuesday after reporting Q1 revenue missing analyst estimates. The drugmaker generated $12.91 billion in revenue for the January-to-March fiscal period compared with the Capital IQ consensus expecting $13.13 billion in revenue. Excluding one-time items, it also earned $0.77 per share, topping the Street mark by $0.03 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.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MRK THC PFE

Other Topics

US Markets

Latest Markets Videos