Healthcare Stocks: WellCare Health Leads (WCG, AGN, WMGI, AMAG, PLX, THOR)
WellCare Health Plans Inc (NYSE:WCG) soared 6.15% to $64.39 following the Company reported first quarter results. Net income was $51.2 million or $1.18 per diluted share compared to $21.3 million or $0.50 per diluted share in the first quarter of 2011. Adjusted net income was $57.3 million or $1.32 per diluted share versus $28.2 million or $0.66 per diluted share in the prior year period. Membership as of March 31, 2012, increased 6% year over year to 2.5 million. Premium revenue for the first quarter of 2012 increased 22% year over year to $1.8 billion.
Allergan Inc (NYSE:AGN) slipped 4.90% to $91.71. The Company reported first quarter EPS of $0.86, above the analyst estimate of $0.87. Revenue for the quarter was $1.37 million versus the consensus estimate of $1.38 million. The Company expects second quarter EPS of $1.04-$1.06. The Company expects revenue of $1.45-$1.50 billion versus the consensus of $1.51 billion in the second quarter.
Wright Medical Group Inc (NASDAQ:WMGI) surged up 5.39% to $19.75 subsequent the Company reported first quarter results. Net sales declined 6% to $126.7 million due to previously announced distributor transitions that occurred in the third quarter of 2011. Net income was $4.6 million or $0.12 per diluted share compared to net income of $3.6 million or $0.09 per diluted share in the first quarter of 2011. Cash and cash equivalents stood at $170.4 million as of the end of the first quarter of 2012.
AMAG Pharmaceuticals Inc (NASDAQ:AMAG) increased 1.17% to $15.63 following the Company declared first quarter results. Total revenues were $15.5 million compared to $13.4 million in the first quarter of 2011. Net loss was $12.4 million or loss of $0.58 per share compared to net loss of $22.3 million or a loss of $1.05 per share in the prior year period. The Company expects net Feraheme product revenues to be in the range $53 – $57 million for fiscal year 2012. The Company has received positive data from IDA-302. This is a phase III clinical trial evaluating Feraheme.
Protalix BioTherapeutics Inc (NYSEAMEX: PLX) soared 14.22% to $7.07. Pfizer Inc And Protalix BioTherapeutics Inc announced that the United States Food and Drug Administration approved ELELYSO for injection. This is an enzyme replacement therapy for the long-term treatment of adults with a confirmed diagnosis of type 1 Gaucher disease.
Thoratec Corporation (NASDAQ:THOR) is up 0.87% to $34.80. The Company reported first quarter net income of $25.5 million or $0.43 per diluted share versus net income of $16.5 million or $0.27 per diluted share in the first quarter of 2011. Revenues increased 27% to $126.8 million.