Health Care Sector Update for 01/09/2019: GMED,NEO,CGC

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Top Health Care Stocks

JNJ -0.08%

PFE +0.37%

ABT +2.04%

MRK +0.01%

AMGN +0.73%

Health care stocks were rising, including a more than 0.5% gain for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were up almost 1% as a group while the Nasdaq Biotechnology index also was climbing nearly 1%.

Among health care stocks moving on news:

(+) Globus Medical ( GMED ) rose over 15% at one point on Wednesday after the medical device company said it was expecting about $195.5 million in Q4 sales, up 11% over the year-ago period and topping the $188.18 million analyst mean. The company also is projecting FY19 revenue above the Street view.

In other sector news:

(+) NeoGenomics ( NEO ) jumped 13% higher on Wednesday after S&P Dow Jones Indices selected the genetic testing company to replace Engility Holdings ( EGL ) in the S&P SmallCap 600 index starting on Jan. 14.

(+) Canopy Growth ( CGC ) has climbed 13% higher in US trade after Piper Jaffray initiated coverage of the medical cannabis with an overweight stock rating and a $40 price target.

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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