Markets

Health Care Sector Update for 08/03/2016: INSY,KOOL,BRKR

Top Health Care Stocks

JNJ -0.80%

PFE -2.30%

MRK -0.36%

ABT -1.39%

AMGN -0.89%

Health care stocks were trading lower in recent trade, with the NYSE Health Care Index slipping about 0.5% while shares of health care companies in the S&P 500 were down 0.4% as a group.

In company news, INSYS Therapeutics ( INSY ) shares spiked today after the biotech firm today reported better-than-expected Q2 net income and revenue.

Excluding one-time items, the company earned $0.13 per share during the April-to-June period, beating the Capital IQ consensus by $0.06 per share. Revenue fell 13.6% from the year-ago quarter to $67.1 million, roughly in-line with the $66.94 million Street view.

INSY shares were up more than 17% at $17.81 apiece, backing down from a prior advance as high as $18.19 a share.

In other sector news,

(+) KOOL, (+23.4%) Follow-up study finds SurgWerks system continues to reduce pain and improve quality-of-life for patients with late-stage ischemia 40 months after original procedure allowed them to limb amputations.

(-) BRKR, (-12.0%) Q2 revenue falls 6.1% from year-ago levels to $371.7 mln, trailing $410.42 analyst mean, while EPS of $0.20 meets expectations. Cuts FY16 revenue outlook expecting 3% growth over last year to 0% this year.

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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