Markets

Health Care Sector Update for 05/02/2016: HAE,AEMD,BIND

Top Health Care Stocks

JNJ +0.26%

PFE -0.31%

MRK -0.24%

ABT +0.38%

AMGN -0.02%

Health care stocks were narrowly higher today, with the NYSE Health Care Index rising about 0.1% while shares of health care companies in the S&P 500 were up about 0.2% as a group.

In company news, Haemonetics Corp ( HAE ) retreated to a four-year low on Monday after the medical-device company today reported fiscal Q4 net income trailing analyst estimates despite revenue rising about 7% over year-ago levels.

Excluding one-time items, earns $0.37 per share, down from $0.47 per share during year-ago period and trailing Street view by $0.09 per share. Revenue rose 7.4% over last year to $243.2 million, roughly in-line with the $244.96 million consensus.

HAE shares were down almost 14% at $27.98 each, earlier falling to their worst level since November 2011 at $27.73 a share.

In other sector news,

(+) AEMD, (+6.0%) Second patient completes Hemopurifier therapy and a third patient begins the six-treatment protocol, according to CEO Jim Joyce in a note to investors. Plans to enroll 10 patients overall for testing of the viral control device.

(-) BIND, (-73.1%) Voluntarily files for Chapter 11 bankruptcy protection in federal court in Delaware after lender demands accelerated loan repayment. Working with investment bank to determine strategic alternatives.

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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