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Sector Update: Health Care

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Health care stocks were narrowly higher, with the NYSE Health Care Sector Index rising about 0.2% and shares of health care companies in the S&P 500 ahead less than 0.1% as a group.

In company news, Genomic Health ( GHDX ) was higher Wednesday afternoon, reversing earlier declines that followed the cancer-diagnosis firm's swing to a Q3 net loss with revenue below Wall Street expectations.

During the three months ended Sept. 30, the company reported a $6.3 million net loss, or $0.20 per share, reversing a $500,000 profit during the same quarter last year but matching the Capital IQ consensus.

Revenue rose 4.7% year over year to $69.1 million, trailing analyst estimates by around $1.74 million.

GHDX shares were up about 1% at $35.59 each, matching their session high. The stock has traded within a 52-week range of $23.90 to $37.74 a share, rising 19% over the past year through Tuesday's close.

In other sector news,

(+) DIAGF, (+19.8%) Said it expects to file modular pre-market application for its theranostic treatment for septic shock during the first half of 2016 after FDA confirms regulatory pathway for the medical-device company.

(-) BIOL, (-0.1%) Narrows Q3 net loss to $3.5 mln, or $0.08 per share, improving on $4 mln net loss last year. Revenue rises 3.3% to $12.7 mln. No analyst estimates were available for comparison.

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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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