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.
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.
