Sector Update: Health Care Stocks Retreat This Afternoon

Last Updated: Friday, January 21, 2022 4:04 PM | MT Newswires

Health care stocks were ending mostly lower this afternoon, with the NYSE Health Care Index falling 0.9% and the SPDR Health Care Select Sector ETF (XLV) down 0.8%.

The Nasdaq Biotechnology index also was sinking 1.1%.

In company news, Zimmer Biomet Holdings (ZBH) closed 0.4% lower in Friday trading after it said the planned spinoff of its dental and spine business into a standalone public company remains on course for completion before the end of March following Zimmer filing the Form 10 registration statement for ZimVie, including historical financial information, business strategy, and other company details, with US regulators.

Medtronic (MDT) was fell 0.4% after the FDA issued a Class 1 recall - the agency's most serious type of recall - for the company's HawkOne atherectomy system due to risk of damage and serious events the device used to remove plaque from arteries can cause, including arterial rupture. The FDA has received 163 HawkOne complaints, including 55 reports of injuries.

Applied DNA Sciences (APDN) was sinking 5.4% this afternoon, reversing an 8.7% mid-morning advance that followed the company Friday asking the US Food and Drug Administration for an emergency use authorization for its Linea 2.0 reverse transcription-polymerase chain reaction assay and at-home sample collection kit for the virus causing COVID-19. Samples are mailed to Applied DNA's clinical labs unit, with results available in 24 to 48 hours.

CureVac (CVAC) slid over 14% after BofA Securities lowered its rating for the early-stage biopharmaceuticals company to underperform from neutral and also slashed its price target for CureVac shares.

Share this article:

Related Companies

You May Also Like

Related Articles

Sector Update: Consumer Stocks Gain on Friday

Sector Update: Health Care Stocks End Higher

Sector Update: Tech Stocks Lead Markets Recovery This Week

Sector Update: Health Care

Related Companies