Health Care Sector Update for 09/12/2019: MNK, TTOO

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Top Health Care Stocks:

JNJ: +0.02%

PFE: +0.24%

ABT: Flat

MRK: +0.69%

AMGN: Flat

Health care giants were mixed pre-bell Thursday.

Early movers include:

(+) Mallinckrodt ( MNK ), which is edging higher despite slumping Wednesday after S&P Global Ratings slashed its rating on the company to CCC from B+ due to heightened risk of a distressed exchange over the next year, prior to any large settlement of opioid claims, and with negative outlook.

(-) T2 Biosystems ( TTOO ), which was over 4% lower pre-bell despite Janney lifting the company’s rating from buy from neutral, and changing the company’s fair value estimate to $6 from $2 on HHS grant and a new credit agreement.

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