US Markets

Health Care Sector Update for 08/16/2019: TDOC,TTOO,ARAY

Top Health Care Stocks

JNJ +0.27%

PFE +0.88%

ABT +1.06%

MRK +1.53%

AMGN +2.55%

Health care stocks were rising, including a nearly 1.1% gain for the NYSE Health Care Index while the shares of health care companies in the S&P 500 also were up 1.2% as a group. The Nasdaq Biotechnology index was climbing more than 2.0%.

Among health care stocks moving on news:

(+) Teladoc (TDOC) climbed nearly 7% after a new regulatory filing on Friday showed CEO Jason Gorevic exercised employee stock options to buy 10,000 of the virtual healthcare services company's shares at $1.67 each. Following Thursday's stock purchase, Gorevic now owns 653,924 Teladoc shares.

In other sector news:

(+) T2 Biosystems (TTOO) was up 1.8% after announcing an exclusive distribution agreement with an unnamed partner bringing its rapid diagnostic technologies into Australia, Fiji, and New Zealand for the first time.

(-) Accuray (ARAY) was more than 6% lower in afternoon trading, recovering from a 23.2% decline earlier Friday to a record intra-day low of $2.35 a share after the radiosurgery company reported a surprise net loss of $0.02 per share for its fiscal Q4 ended June 30, missing the Capital IQ consensus looking for a $0.02 per share profit. It also sees revenue this year in a range of $410 million to $420 million, lagging the $436.8 million Street view.

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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