Healthcare Stocks: IntegraMed Soars On Buyout (HCA, CNC, AMPE, INMD, JNJ, UNH)
HCA Holdings Inc (NYSE:HCA) jumped over 1.90% to $26.24 on a traded volume of 171k shares. Supreme Court gives it’s ruling on the constitutionality of President Barack Obama’s healthcare reform law. The landmark ruling on whether to strike down all or portions of the 2010 Patient Protection and Affordable Care Act is expected later this month. This led Citi Investment Research & Analysis to upgrade the rating on the stock to buy.
Centene Corp (NYSE:CNC) is one of the top losers. The stock slipped to 28.33% to $25.51 on a traded volume of 2.14 million shares. For the FY 2012, the company projects to earn $1.45 to $1.65 per share, well below its previous guidance of $2.64 to $2.84 a share. Analysts are projecting $2.68 per share.. The Company said it expects to return to profitability in the third quarter.
The company said it witnessed higher medical costs for Celtic. It also experienced increased medical costs in Kentucky in May due to a high number of non-inpatient claims and the retroactive assignment of members. Centene had a high number of certain non-inpatient claims in the Hidalgo area in Texas as well.
Ampio Pharmaceuticals Inc (NASDAQ:AMPE) surged up 22.17% to $3.91. The Company said that its CRO has completed analysis of the primary end point in the Optina study for DME conducted at St Michael Diabetes Hospital in Toronto Canada. The study was double masked and included 32 patients with moderate to severe diabetic macular edema that were treated orally with either placebo or one of three doses of Optina.
IntegraMed America Incorporation (NASDAQ:INMD) soared 20.55% to $13.67. IntegraMed America Inc announced that it has entered into a definitive agreement to be acquired by affiliates formed by Sagard Capital Partners L.P. for $14.05 per share in cash or a total deal value of $169.5 million. The total purchase price represents a 24% premium to IntegraMed’s closing stock price of $11.34 on June 8, 2012.
Johnson & Johnson (NYSE:JNJ) is down 0.24% to $62.82. The Company expects to incur a special charge in the second quarter of 2012 of approximately $600 million to increase its accrual for the potential settlement of previously disclosed civil litigation matters related to RISPERDAL, INVEGA, NATRECOR and Omnicare Inc.
UnitedHealth Group Inc (NYSE:UNH) went down 0.33% to $57.81. The Company will offer some benefits and consumer protections created by the U.S. health-care overhaul even if the Supreme Court strikes down the law.