Top Health Care Stocks
Health care stocks were falling, including a nearly 1.1% decline for the NYSE Health Care Index this afternoon. Shares of health care companies in the S&P 500 also were down almost 1.1% as a group while the Nasdaq Biotechnology index was slipping 0.1%.
Among health care stocks moving on news:
(-) Humana (HUM) retreated Tuesday, sinking nearly 7%. The managed care organization earlier said it was engaging physician groups across the country to launch a value-based oncology care program it expects to provide more integrated cancer care for Humana Medicare Advantage and commercial health care insurance members.
In other sector news:
(+) Johnson & Johnson (JNJ) was up more than 2% after the health care conglomerate raised its FY19 outlook after Tuesday reporting adjusted Q1 net income of $2.10 per share on $20.02 billion in net sales, topping the Capital IQ consensus by $0.06 per share and $470 million, respectively.
(-) Ultragenyx Pharmaceutical (RARE) declined over 4% on Tuesday. The US Food and Drug Administration selected the company's UX007 drug candidate for fast track consideration in addition to granting a pediatric disease designation for the experimental treatment for a group of genetic disorders characterized by the body being unable to convert long-chain fatty acids into energy. Ultragenyx is expecting to file a new drug application for UX007 with the agency by mid-year.
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