Health Care Sector Update for 02/20/2019: ACET, OMI, FMS, NXTM, JNJ, PFE, ABT, MRK, AMGN

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Top Health Care Stocks:

JNJ: Flat

PFE: Flat

ABT: Flat

MRK: -1.20%

AMGN: Flat

Most health care stocks were flat pre-bell Wednesday.

Stocks moving on news include:

(-) Aceto ( ACET ), which was slumping by more than 68% after filing for Chapter 11 bankruptcy to settle its debt obligations and facilitate the sale of its chemicals business assets. The company signed a “stalking-horse” asset purchase agreement to sell the business to an affiliate of investment firm New Mountain Capital for $338 million in cash, plus the assumption of certain liabilities.

(-) Owens & Minor ( OMI ) was declining by more than 19% as it booked Q4 adjusted profit of $0.09 per share, down from $0.35 per share in the prior year period and lower than the $0.14 per share Street estimate.

(+) Fresenius Medical Care ( FMS ) was almost 4% higher after the US Federal Trade Commission approved its merger with NxStage Medical ( NXTM ) on the condition that NxStage divest its bloodline tubing set business to B. Braun Medical.

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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