US Markets

Health Care Sector Update for 10/05/2021: SDC,ACHC,UPH

Health care stocks were mostly higher this afternoon, with the NYSE Health Care Index rising 0.7%, while the SPDR Health Care Select Sector ETF (XLV) also was up 1%.

The Nasdaq Biotechnology index was climbing 0.3%.

In company news, SmileDirectClub (SDC) climbed over 11% after Tuesday saying it has received a US patent for its SmileBus concept providing oral care services to more remote parts of the country.

Acadia Healthcare Company (ACHC) slid 4.1% after the inpatient psychiatric care company said CEO Debbie Osteen will retire Jan. 31. No successor was immediately named, and the company has retained an executive search firm to assist with the process.

UpHealth (UPH) slumped Tuesday, falling 35% to a record low of $1.69 a share after the digital health services company overnight priced a $40.3 million public offering of 23 million common shares at $1.75 apiece, or 33% under its last closing price.

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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