Sector Update: Health Care Stocks Softer Friday Afternoon

-- Health care stocks fell Friday afternoon with the NYSE Health Care Index easing 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.3%.

The iShares Biotechnology ETF (IBB) shed 0.7%.

In corporate news, Moderna (MRNA) affirmed its 2026 revenue growth outlook and reported better-than-expected Q1 results amid higher COVID vaccine sales. The stock still declined 2.9%.

Amgen's (AMGN) Q1 EPS beat was primarily driven by lower administrative costs and taxes, Morgan Stanley said. Amgen shares fell 5.6%.

Novo Nordisk (NVO) rebranded its oral semaglutide medication for type 2 diabetes as Ozempic. It was formerly marketed as Rybelsus. Novo shares gained 3.2%.

PACS Group Subsidiaries Acquire Care Facility in Anchorage, Alaska

PACS Group (PACS) said Friday that its subsidiaries have acquired the operations of post-acute care facility Ridgeway Senior Living in Anchorage, Alaska.Financial terms of the acquisition were not disclosed.As part of the transaction, PACS has acquired land adjacent to the building, where it plans to build a subsequent 150-bed skilled nursing facility with an expected completion date of 2028, according to a statement.Price: $33.25, Change: $-0.30, Percent Change: -0.89%

$PACS

Zions Bancorporation Approves $225 Million Buyback, Maintains Quarterly Dividend

Zions Bancorporation (ZION) said Friday its board has authorized up to $225 million in share repurchases for the remainder of 2026, bringing its total planned buybacks for the year to $300 million.The bank also maintained its quarterly dividend at $0.45 per share, payable May 21 to shareholders of record on May 14.Price: $63.55, Change: $+0.13, Percent Change: +0.20%

$ZION

Sector Update: Health Care Stocks Softer Friday Afternoon

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