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Sector Update: MWI Veterinary Supply Dogging It After Sub-Par FY15 Forecast

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Health care stocks were mostly higher, with the NYSE Health Care Sector Index adding just 0.1% but shares of health care companies in the S&P 500 advancing about 0.5% as a group.

In company news, MWI Veterinary Supply ( MWIV ) shares slumped Thursday after the pet care products company forecast FY15 earnings trailing analyst estimates.

The company is projecting per-share earnings in a range of $6.10 to $6.28, lagging the Capital IQ consensus by at least $0.06 per share. It also sees revenue next year coming in between $3.19 billion to $3.28 billion, in-line with the Street view looking for around $3.21 million in FY15 revenue.

The weak earnings guidance upstaged MWIV's beating the analyst consensus with its Q3 results, posting net income of $1.36 per share and topping estimates by $0.02 per share. Revenue 31.2% year over year to $794.1 million, trumping analyst opinion by just under $35 million.

MWIV shares were off by 9% at $154.53 apiece, earlier sinking to a session low of $149.51 a share. The stock has traded within a 52-week range of $129.75 to $188.40 a share, climbing almost 7% over the past year prior to Thursday's decline.

In other sector news,

(+) AEGR, (+10.5%) Strikes deal to acquire Myalept - the first and only medication with U.S. approval to treat generalized lipodystrophy - from AstraZeneca ( AZN ) for an upfront fee of $325 milion.

(-) AEZS, (-48.8%) FDA determines the company's New Drug Application for its macimorelin investigational medicine cannot be approved in its present form because the drug did not meet its primary efficacy objective in clinical testing.

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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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