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Sector Update: Healthcare Stocks Softer Late Afternoon

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Healthcare stocks declined late Tuesday afternoon, with the NYSE Healthcare Index shedding 0.5% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.2%.

The iShares Biotechnology ETF (IBB) decreased less than 0.1%.

In corporate news, Tactile Systems Technology (TCMD) shares fell past 17% after it reported late Monday its Q2 results and lowered its revenue guidance for the full year.

Alamar Biosciences (ALMR) reported a narrower Q2 net loss and sales above consensus late Monday. Its shares surged past 32%.

Hims & Hers Health (HIMS) shares fell 2.5%. Q2 results were mixed, with upside in its US business from branded GLP-1 strength and a ramp in testosterone offset by disappointing gross margin and weak free cash flow, Morgan Stanley said.

Eli Lilly (LLY) committed to use Veeva Systems' (VEEV) Veeva Vault CRM globally. Lilly shares were down 1.3%, and Veeva added 1%.

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