Healthcare shares were flat to higher in pre-market trade on Tuesday.
In healthcare stocks news, Merck ( MRK ) was up 1% after it announced Q1 2014 results of $0.88 EPS, up from $0.85 in Q1 2013 and beating analyst estimates of $0.79. Worldwide sales were $10.26 billion for Q1, a decrease of 4% compared with $10.67 billion the Q1 2013 and missing analyst projections of $10.44 billion.
The company has confirmed its 2014 full-year non-GAAP EPS target of $3.35 to $3.53 and continues to expect full-year 2014 revenues to be between $42.4 billion and $43.2 billion.
And, Alere ( ALR ) announced plans to pursue an initial public offering in the United Kingdom of the ordinary shares of BBI Diagnostics Group plc, or BBI Diagnostics, a new subsidiary formed for purposes of the offering. reported Q1 earnings that met the Street view.
Alere also reported non-GAAP adjusted net income per diluted common share of $0.55 for Q1 2014 and net revenue of $716.6 million for Q1 2014. The Street expected earnings of $0.55 per share on revenue of $739 million, according to Capital IQ estimates.
Finally, CryoLife ( CRY ) reported Q1 earnings of $0.04 per share and revenue of $35.7 million, both of which missed the Street view.
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