Healthcare stocks were mostly higher with the NYSE Healthcare Sector Index adding about 0.1% but shares of healthcare companies in the S&P 500 were climbing nearly 0.9% as a group.
In company news, Vascular Solutions ( VASC ) was holding on to strong gains in late trade Wednesday after reporting Q2 per-share earnings that beat analyst estimates and forecast EPS for the current quarter also topping the Street view.
The medical device company producing cardiovascular products earned $0.20 per share during the three months ended June 30, topping the Capital IQ consensus by $0.02 per share. Revenue climbed 12.0% over the same quarter last year $30.7 million, nudging out estimates by around $270,000.
For the current quarter ending in September, VASC is projecting EPS in a range of $0.19 to $0.20, topping estimates by at least $0.01 per share. Revenue is seen in a range of $30.5 million to $31.5 million, in-line with the Street view expecting $31.05 million in quarterly revenue.
VASC shares were up more than 11% at $24.87 apiece shortly before the closing bell after earlier climbing to a session high of $25.35 a share.
In other sector news,
(+) PBYI, Revises license pact with Pfizer ( PFE ) for its Neratinib drug candidate after the prospective cancer treatment improved disease-free survival by 33% compared with a placebo during testing in 2,821 women with early-stage breast cancer.
(-) CNMD, Lowers FY14 earnings outlook by $0.05 to a new range of $1.85 to $1.95 per share. Street is at $1.94. Revenue guidance cut 4.5%. Ends strategic review without making any moves. CEO Joe Coasanti quits. Q2 EPs, revenue both miss estimates.
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