US Markets

Health Care Sector Update for 11/06/2019: DVA,PODD,XLRN

Top Health Care Stocks

JNJ +0.75%

PFE +0.04%

ABT +0.90%

MRK +1.00%

AMGN +1.40%

Health care stocks were mostly higher, with the NYSE Health Care Index climbing almost 0.5% in afternoon 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 falling over 0.7%.

Among health care stocks moving on news:

(+) DaVita (DVA) rose almost 12% after the dialysis-center company reported Q3 non-GAAP net income and revenue beating the Capital IQ consensus call and also raised its FY19 earnings outlook to $5.25 per share to $5.75 per share from $5 per share to $5.50 per share previously. Wall Street is expecting DaVita to earn $5.27 per share during the 12 months ending Dec. 31.

In other sector news:

(+) Insulet (PODD) climbed 10% on Wednesday after the medical device company reported a 27% increase in revenue over year-ago levels, rising to $192.1 million and exceeding the Capital IQ consensus expecting $179.5 million in revenue during the three months ended Sept. 30. It also sees FY19 revenue in a range of $722 million to $730 million, also topping the $711.4 million analyst mean.

(+) Acceleron Pharma (XLRN) fell nearly 14.5% on Wednesday after the drugmaker reported a Q3 net loss of $0.86 per share on $4.21 million in revenue. Analysts, on average, had been looking for an $0.82 per share loss on a GAAP basis and a normalized net loss of $0.83 per share on $4.4 million in revenue.

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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