US Markets

Health Care Sector Update for 07/26/2019: EHTH,OMCL,MMSI

Top Health Care Stocks

JNJ -0.33%

PFE +0.68%

ABT -0.59%

MRK -0.57%

AMGN -0.06%

Health care stocks were rising, including a more than 0.5% gain for the NYSE Health Care Index in recent trade while the shares of health care companies in the S&P 500 also were up nearly 0.3% as a group. The Nasdaq Biotechnology index was climbing almost 0.3%.

Among health care stocks moving on news:

(+) eHealth (EHTH) was soaring on Friday, rising 29%, after the online health insurance exchange reported a surprise adjusted Q2 profit and its revenue for the three months ended June 30 more than doubled compared with the year-ago period, also exceeding Wall Street expectations. It earned $0.10 per share, excluding one-time items, reversing a $0.40 per share non-GAAP net loss last year, while revenue climbed 101% to $65.8 million. Analysts, on average, had been looking for a $0.36 per share adjusted loss on $41 million in revenue.

In other sector news:

(+) Omnicell (OMCL) climbed more than 6% after the automated drug dispener company reported improved non-GAAP Q2 profit and sales and beating analyst forecasts. Non-GAAP net income rose to $0.67 per share from $0.46 per share last year while revenue grew 15% year-over-year to $217.4 million compared with Wall Street estimates expecting the company to earn $0.63 per share on $214.1 million in revenue during the three months ended June 30.

(-) Merit Medical Systems (MMSI) dropped 26% after reporting Q2 financial results missing analyst estimates and lowered its forecast for adjusted EPS for FY19 below Wall Street expectations, prompting a downgrade of the medical instruments company on Friday to market perform from outperform at Wells Fargo.

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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