Health Care Sector Update for 02/07/2019: SNN,ENSG,CAH,OSUR
Top Health Care Stocks
Health care stocks were lower in late trade, including a 1.0% decline for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were down over 1.3% as a group while the Nasdaq Biotechnology index was falling 2.6%.
Among health care stocks moving on news:
(+) Smith & Nephew ( SNN ) rose over 5% on Thursday despite the medical device company reporting adjusted Q4 net income of $1.01 per share, up from $0.95 per share during the year-ago period but narrowly trailing the Capital IQ consensus expecting $1.02 per share.
In other sector news:
(+) The Ensign Group ( ENSG ) climbed nearly 11% on Thursday after the long-term care facilities company reported adjusted Q4 net income of $0.54 per share, up from $0.40 per share and beating the Capital IQ poll by $0.03 per share. It also sees FY19 earnings and revenue exceeding analyst estimates.
(+) Cardinal Health ( CAH ) advanced Thursday, rising 6.5%, after the medical products distributor earned $1.29 per share during the three months ended Dec. 31, excluding one-time items, on $37.74 billion in sales. That compares with the Capital IQ consensus expecting a $1.09 per share adjusted Q2 profit on $36.09 billion in sales.
(-) OraSure Technologies ( OSUR ) fell almost 25% after the diagnostics materials supplier issued a downbeat outlook for the current quarter ending in March, projecting a Q1 net loss of between $0.06 to $0.07 per share on $29 million to $30.5 million in revenue. Wall Street was looking for OraSure to earn $0.07 per share on $45.4 million in revenue.
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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