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Health Care Sector Update for 09/29/2015: CMN,XENT,ZSAN,LLY

Top Health Care Stocks

JNJ +1.42%

PZE -0.13%

MRK +0.54%

ABT +0.02%

AMGN +0.53%

Health care stocks were ending mixed in Tuesday trade, with the NYSE Health Care Index declining over 0.6% while shares of companies in the S&P 500 were climbing less than 0.1% as a group this afternoon.

In company news, Cantel Medical Corp. ( CMN ) rose Tuesday after today reporting fiscal Q4 earnings and revenue that exceeded both year-ago comparisons and Wall Street expectations.

Excluding one-time items, Cantel earned $0.39 per share, up from $0.32 cents per share during the same quarter last year and beating the Capital IQ consensus expecting $0.31 per share.

Revenue rose 15% to $151.4 million, topping analyst estimates looking for $145.2 million.

CMN shares were up more than 10% at $54.87 each, earlier climbing to a session high of $55.00 a share.

In other sector news,

(+) XENT, Files application with FDA for expanded application for its Propel mini-steroid-releasing implant to treat patients with frontal sinus disease in addition to current indication for ethmoid sinuses.

(-) ZSAN, Discontinues work on once-daily formulation of its ZP-PTH drug candidate for severe osteoporosis, resumes development of weekly -PTH product. Also terminates collaboration agreement with Eli Lilly ( LLY ).

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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