Healthcare Stocks: Stryker Jumps On Earnings (AIS, DEPO, STJ, ABT, DGX, SYK)
Antares Pharma Inc (NYSEAMEX: AIS) plunged 3.68% to $2.88. SA author James Stocklasar Thomas warns that the company may hit a speed bump with its Q1 and Q2 results. “Antares is growing, but it is not firing on all cylinders.” So far this year, the stock is up over 31%.
DepoMed Inc (NASDAQ:DEPO) increased 2.23% to $6.43. The Company has completed a Type B pre-NDA meeting with the United States Food and Drug Administration regarding the results of the three Phase 3 clinical trials of Serada.
St. Jude Medical Inc (NYSE:STJ) declined 2.30% to $38.17. The Company reported first quarter net earnings of $212 million or 67 cents per share compared to $233 million or 71 cents per share in the prior year period. Sales were $1.395 billion against $1.376 billion.
Abbott Laboratories (NYSE:ABT) declined 0.71% to $60.0 after the Company announced first quarter results. Earnings were $1.24 billion or $0.78 per share compared to $864 million or $0.55 per share in the same quarter last year. Net sales were $9.46 billion against $9.04 billion in the prior year quarter. However, analysts estimated revenue of $9.36 billion for the quarter. The Company expects EPS to be in the range of $5.00 to $5.10 for fiscal year 2012.
Quest Diagnostics Inc (NYSE:DGX) went down 2.09% to $59.03. The Company posted first quarter EPS of $1.07, beating the analyst estimate of $1.01. Revenue for the quarter was $1.94 billion versus the consensus estimate of $1.88 billion. The Company expects EPS to be in the range $4.45-$4.60 for fiscal year 2012.
Stryker Corporation (NYSE:SYK) moved up 1.40% to $55.65 after the Company declared first quarter results. Profit was $350 million or 91 cents per share compared to $307 million or 78 cents per share in the prior year period. Revenue increased 7.2% to $2.16 billion, beating the analysts’ expectations of $2.12 billion. Gross margin increased to 67.2% from 65.8%.