Health Care Sector Update for 07/26/2019: EHTH,OMCL,MMSI
Top Health Care Stocks
Health care stocks were rising, including a more than 0.5% gain for the NYSE Health Care Index in recent trade while the shares of health care companies in the S&P 500 also were up nearly 0.3% as a group. The Nasdaq Biotechnology index was climbing almost 0.3%.
Among health care stocks moving on news:
(+) eHealth ( EHTH ) was soaring on Friday, rising 29%, after the online health insurance exchan ge report ed a surprise adjusted Q2 profit and its revenue for the three months ended June 30 more than doubled compared with the year-ago period, also exceeding Wall Street expectations. It earned $0.10 per share, excluding one-time items, reversing a $0.40 per share non-GAAP net loss last year, while revenue climbed 101% to $65.8 million. Analysts, on average, had been looking for a $0.36 per share adjusted loss on $41 million in revenue.
In other sector news:
(+) Omnicell ( OMCL ) climbed more than 6% after the automated drug dispener company reported improved non-GAAP Q2 profit and sales and beating analyst forecasts. Non-GAAP net income rose to $0.67 per share from $0.46 per share last year while revenue grew 15% year-over-year to $217.4 million compared with Wall Street estimates expecting the company to earn $0.63 per share on $214.1 million in revenue during the three months ended June 30.
(-) Merit Medical Systems ( MMSI ) dropped 26% after reporting Q2 financial results missing analyst estimates and lowered its forecast for adjusted EPS for FY19 below Wall Street expectations, prompting a downgrade of the medical instruments company on Friday to market perform from outperform at Wells Fargo.
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