Markets

Health Care Sector Update for 12/17/2015: MDXG,MYOS,VRX

Top Health Care Stocks

JNJ -0.82%

PZE -0.23%

MRK -0.50%

ABT -1.80%

AMGN -1.08%

Health care stocks continue to outperform most industry sectors in the S&P 500 today, with the NYSE Health Care Index recently declining about 0.5% while shares of health care companies in the S&P 500 were down about 0.3% as a group.

In company news, MiMedx Group ( MDXG ) shares rose Thursday after the bioimplants company said it sees profit for its current quarter beating analyst estimates as well as forecasting above-consensus FY16 net income and revenue.

For the three months ending Dec. 31, MiMedx is projecting per-share earnings of $0.06 to $0.07, topping the Capital IQ consensus by at least $0.01 per share. Its forecast of Q4 revenue in a range of $53 million to $55 million also straddled the $53.52 million consensus estimate.

For the upcoming year, the company is expecting to earn $0.31 to $0.35 per share on between $245 million to $255 million. The Street is looking for a $0.27 per share profit on $241.93 million in FY16 revenue.

MDXG shares were up more than 10% at $8.94, easing just 6 cents from its session high.

In other sector news,

(+) MYOS, (+70.6%) Rens Technical makes strategic investment, agreeing to $20.3 mln private placement of 3.5 mln shares; also receives warrants to pay up to 884,259 more shares at a weighted average of $11.45 each.

(-) VRX, (-4.3%) Cuts Q4 financial results below Street view, offer below-consensus FY16 profit outlook. Reduced to Neutral from Buy at Mizuho, which also raised its price target for the stock by $19 to $130 a share.

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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