Markets

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

Top Health Care Stocks

NJ -0.90%

PZE -0.12%

MRK -1.17%

ABT -1.80%

AMGN -1.25%

Losses for health care stocks continued to mount this afternoon, with the NYSE Health Care Index declining about 0.7% while shares of health care companies in the S&P 500 were down about 0.6% as a group.

In company news, ReWalk Robotics ( RWLK ) raced higher Thursday, with shares of the medical device company nearly doubling in value today after the U.S. Department of Veteran Affairs today agreed to provide insurance reimbursements for the company's robotic system that helps paraplegics walk again.

In a statement, the company said the VA "has issued a national policy for the evaluation, training and procurement of ReWalk Personal exoskeleton systems for all qualifying veterans across the United States." The device previously was approved by the U.S. Food and Drug Administration in 2014.

RWLK shares finished more than 80% higher at $10.81 each in late trade, earlier topping out at$13.59 a share.

In other sector news,

(+) MYOS, Rens Technical makes strategic investment, agreeing to $20.25 mln private placement of 3.54 mln shares; also receives warrants to pay up to 884,259 more shares at a weighted average of $11.45 each.

(-) VRX, Cuts Q4 financial forecast below Street view, offers 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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