Top Healthcare Stocks
JNJ +0.48%
PFE +0.10%
ABT +0.99%
MRK +1.11%
AMGN -0.71%
Healthcare stocks were slightly higher Tuesday afternoon, with the NYSE Healthcare Sector Index adding about 0.2% and shares of healthcare companies in the S&P 500 climbing 0.2% as a group.
In company news, McKesson ( MCK ) was higher Tuesday after the drug wholesaler reported year-over-year improvement in its fiscal Q4 financial results, also topping analyst estimates for the period.
MCK posted Q4 EPS of $2.55, up from a $1.48 gain during the year-ago quarter and beating analyst estimates by $0.15 per share. Revenue rose 25% over the same quarter last year to $38.1 billion, beating the Capital IQ consensus by around $2.3 million.
For the new fiscal year running through next March, MCK is expects per-share earnings in a range of $10.40 to $10.80 per share, in line with analyst estimates looking for EPS of $10.62.
MCK shares were up 3.3% at $179.87 each in recent trade, climbing to a session high of $181.00 a share earlier.
In other sector news,
(-) APRI, (-1.3%) Receives FDA approval to begin Phase IIa testing of its RayVa topical cream - a combination of alprostadil and the company's proprietary permeation enhancer DDAIP.HCl - as a prospective treatment for Raynaud's phenomenon.
(-) ARNA, (-5.0%) Q1 net loss of $0.12 per share was $0.02 wider than the Capital IQ consensus. Revenue grows 186.9% over year-ago levels to $6.8 mln but still lag estimates by around $1.18 mln.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
