Markets

Sector Update: Health Care

Healthcare stocks were posting slim losses Thursday with the NYSE Healthcare Sector Index declining about 0.1% and shares of healthcare companies in the S&P 500 also down about 0.1% as a group.

In company news, VCA Inc. ( WOOF ) was higher Thursday, with shares of the animal health care company rising to a six-year high after the company said it negotiated a new $1.4 billion revolving credit facility.

The new facility includes $600 million of senior term notes, which are slated to retire around $534 million of existing term notes owed under its existing credit facility. WOOF also has a new, $800 million revolving facility, now undrawn and replacing the company's currently undrawn $125 million revolver facility.

Both the new senior term-loan and revolving facility were initially priced at LIBOR plus 175 basis points but will vary based on the company's debt-to-EBITDA ratio.

WOOF shares were up about 2.9% at $40.49 each in mid-day trading, recently climbing to its highest share price since January 2008 at $40.72 a share. Over the past 12 months, the stock has enjoyed a more than a six-fold jump in its share price.

In other sector news,

(+) RPRX, (+20.2%) Said its Androxal testosterone-replacement oral drug outperformed an FDA-approved gel and a placebo in the first of two identical studies, with patients taking Androxal achieved higher sperm concentrations than those in other study arms.

(-) IG, (-0.2%) Receives Outperform rating in new coverage today at Oppenheimer.

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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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