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Sector Update: Healthcare

Healthcare stocks are finishing with small gains with NYSE Healthcare Sector index climbing less than 0.1% while shares of healthcare companies in the S&P 500 also are down less than 0.1% as a group.

In company news, Invacare Corp ( IVC ) is up more than 9% at $19.76 a share, earlier advancing to a new 52-week high of $21.03 after posting a Q3 net loss of $0.18 per share, ex items, $0.03 wider than its year-ago loss but still $0.08 better than the Capital IQ consensus estimate.

Revenue fell 5.6% year over year to $341.2 million, also beating Wall Street expectations by $14.65 milion.

All financial data excludes discontinued operations, including the company's former domestic medical supplies business sold in January and its Champion Manufacturing unit making medical recliners for dialysis clinics that was divested on Aug. 6.

In other sector news,

(+) MMSI, Q3 earnings of $0.25 per share top estimates by $0.12. Revenue increases 20.1% year over year to $115.2 mln, also beating expectations by $6.3 mln.

(-) BSX, Announces restructuring program expected to cut annual costs by up to $200 mln while reducing headcount by between 1,100 and 1,500 positions worldwide. Q3 EPS beats by $0.08 while revenue was in-line with forecasts. Issues upside FY13 earnings guidance.

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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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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