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Health Care Sector Update for 08/03/2018: AMN,HMSY,MDRX,SEM

Top Health Care Stocks

JNJ +0.42%

PFE +2.24%

ABT +0.88%

MRK +1.20%

AMGN +0.81%

Health care stocks were hanging on to moderate gains late in Friday trading, including a more than 0.5% advance for the NYSE Health Care Index. Shares of health care companies in the S&P 500 also were up just over 0.6% as a group although the Nasdaq Biotechnology index still was sinking almost 0.9% today.

Among health care stocks moving on news:

- AMN Healthcare ( AMN ) slumped Friday, falling as much as 11%, after the hospital and clinic staffing company forecast Q3 revenue in a range of $522 million to $530 million, trailing analyst projections by at least $15.4 million. The sub-par outlook upstaged better-than-expected Q2 results, with the company earning $0.83 per share, ex items, on $558.1 million in revenue and topping the Capital IQ consensus by $0.05 per share and $24.2 million, respectively.

In other sector news:

+ HMS Holdings ( HMSY ) rose almost 17% to its highest share price since February 2013 after the health care cost-containment platform reported non-GAAP Q2 net income of $0.25 per share on $146.8 million in revenue, up on both sides compared with year-ago levels and also topping Wall Street estimates. The company also raised its revenue forecast by $15 million over its prior outlook to a new range of $575 million to $585 million and now exceeding the Street view by at least $1 million.

+ Allscripts Healthcare Solutions ( MDRX ) has been extending its gains Friday afternoon, pushing out to a more than 11% advance after the health care technology company late Thursday reported non-GAAP Q2 net income of $0.18 per share, up from $0.15 per share during the year-ago period and matching the Capital IQ consensus for the three months ended June 30. Non-GAAP revenue rose 25% year over year to $535.8 million, narrowly missing the $538.16 million analyst mean.

- Select Medical Holdings Corp ( SEM ) declined Friday after reporting adjusted Q2 net income of $0.31 per share for the three months ended June 30, down from $0.32 per share during the same quarter last year and trailing the Capital IQ consensus by $0.04 per share. Net operating revenues for the acute care hospital chain grew 17.6% year over year to just under $1.3 billion, narrowly beating the $1.29 billion Street view.

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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