Sector Update: Healthcare Stocks Mixed Late Afternoon
Healthcare stocks were mixed late Thursday afternoon, with the NYSE Healthcare Index fractionally higher and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.1%.The iShares Biotechnology ETF (IBB) was up 0.4%.In corporate news, Emergent BioSolutions (EBS) shares dropped 30% after it cut its full-year guidance and announced an organizational restructuring plan.Becton, Dickinson (BDX) raised its full-year earnings guidance as the medical device maker's Q3 results exceeded Wall Street's estimates amid revenue gains across all divisions. Its shares gained 3.5%.Enovis (ENOV) shares fell 13% after the company reported its results for fiscal Q2.Braveheart Bio (BRVE) shares surged 70% in its Nasdaq debut Thursday, after the company announced an upsized IPO of 21.25 million common shares late Wednesday.