Healthcare stocks were most lower Friday with the NYSE Healthcare Sector Index sinking about 0.6% and shares of healthcare companies in the S&P 500 falling around 0.8% as a group.
In company news, Molina Healthcare ( MOH ) was up nearly 4% at $39.32 a share in late trade after the Medicare and healthcare services processor posted a surprise Q1 profit.
Q1 earnings at the company were $0.10 per share, excluding non-recurring items, well over analyst estimates looking for a $0.01 per share net loss. Revenue rose 30.1% year over to year to $2.07 billion, edging out the consensus view by about $0.10 per share.
The company also reaffirmed its FY14 guidance expecting adjusted EPS of $1.65 to $2.15, in-line with the $1.95 per share consensus.
In other sector news,
(+) RXII, Announces positive test results for its RXI-109 drug candidate, reducing levels of a protein that helps form scars after being injected into the eyes of cynomolgus monkeys.
(-) IMMU, Prices underwritten public offering of 9 mln shares of ts common stock at $3.35 each - a 19% discount to Thursday's closing price. Proceeds will fund Phase III testing of its prospective pancreatic cancer drug as well as other trials.
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