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Sector Update: Healthcare

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Healthcare shares were generally flat in pre-market trade on Wednesday.

In healthcare stocks news, Cyberonics ( CYBX ) reported Q4 sales of $74.8 million, up 9.5% from year ago levels but below the analyst consensus of $76.4 million on Capital IQ. EPS was $0.55, up from $0.46 per share last year and one cent ahead of expectations.

For FY 2015, the company expects sales in the range of $300 to $307 million, vs. expectations of $314 million. EPS is see in the range of $2.33 to $2.39, vs. Street estimates of $2.38 per share.

And, UnitedHealth Group ( UNH ) shares are up more than 1% in early pre-market trading Wednesday after the diversified health group announced plans to increase its quarterly dividend by 34% and renew its share buyback.

The company will pay a cash dividend of $0.375 per share on June 25, 2014, to all shareholders of record of on June 16, 2014, up from $0.28 per share that has been paid since the second quarter of 2013.

Finally, Pfizer ( PFE ) and health technology company KineMed renewed their non-exclusive research collaboration for the advancement of novel approaches in Type II diabetes. The collaboration will KineMed's technology platform in testing the impact of potential drug candidates on specific metabolic pathways.

PFE was flat in pre-market trading on Wednesday after losing 0.1% Tuesday after-hours.

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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