Healthcare Stocks: Cyberonics Jumps On Earnings (MRK, UNH, HGSI, CYBX, AMRS)
Merck & Co Inc (NYSE:MRK) is up marginally 0.40% to $37.65 on a traded volume of 2.05 million shares. According to reports from Reuters, U.S. drugs regulators rejected an experimental sarcoma medicine from Merck and Ariad Pharmaceuticals Inc. The regulators have asked for more clinical trials. The Food and Drug Administration issued a complete response letter for the injectable therapy, known generically as ridaforolimus.
UnitedHealth Group Inc (NYSE:UNH) increased 1.82% to $57.06. The Company has increased its quarterly dividend payout by nearly 31%. The Company declared a quarterly dividend of 21.25 cents per share, paid on June 22 to shareholders. The Company has renewed its share repurchase program, authorizing buybacks of 110 million shares over the next several quarters.
The Company has completed its planned purchase of Preferred Care Partners and Medica HealthCare Plans.
Human Genome Sciences (NASDAQ:HGSI) went up 0.71% to $13.48. The Company announced that several abstracts related to BENLYSTA(R) and systemic lupus erythematosus will be presented at the EULAR Annual European Congress of Rheumatology, being held in Berlin from June 6 to June 9, 2012.
Cyberonics Inc (NASDAQ:CYBX) went up 2.96% to $38.96 on a traded volume of 89k shares. The Company reported fourth quarter net income of $10.66 million compared to $7.43 million in the prior year period. Earnings per share were $0.38 versus $0.26 in the previous year period. However, analysts expected earnings per share of $0.35 for the quarter. Net sales for the quarter increased 13% to $57.60 million, beating Wall Street analysts’ consensus estimate of $56.61 million. The Company expects net income between $41.5 million and $43.5 million for fiscal year 2013. The Company expects EPS to be between of $1.49 and $1.59 for fiscal year 2013.
Amyris Inc (NASDAQ:AMRS) jumped up 16.83% to $3.47. The stock is up after the Company said its jetfuel would be used as part of demonstration project at a U.N conference in Brazil later this month.