|Healthcare Review: IPC The Hospitalist Company, Biogen Idec, Supernus Pharmaceuticals, AmerisourceBergen, Bristol Myers Squibb|
|By Staff and Wire Reports|
|Thursday, 25 April 2013 13:41|
Following are notable movers:-
IPC The Hospitalist Company Inc. (NASDAQ:IPCM) stock jumped 14.34% to $45.53. The company on April 24 announced financial results for the first quarter ended March 31, 2013. The company said its first quarter net revenue increased 18% to $153.1 million. First quarter adjusted income from operations increased 17% to $16.0 million. Adjusted net income increased 15% to $9.8 million, or $0.57 adjusted diluted earnings per share.
Biogen Idec Inc. (NASDAQ:BIIB) shares gained 3.48% to $213.35. The company on April 25 reported first-quarter 2013 GAAP net income of $426.75 million, or $1.79 a share, from $302.66 million, or $1.25 a share, a year earlier. Non-GAAP net income attributable to Biogen Idec was $469.4 million, or $1.97 a share. Analysts expected earnings per share of $1.61 for the quarter. Quarterly total revenues of $1.42 billion, were 10% higher than $1.29 billion in the first quarter of 2012. Analysts estimated revenues of $1.42 billion for the quarter.
Additionally, Investment analysts at Deutsche Bank increased their target price on shares of Biogen Idec to $240.00 in a note issued to investors on April 22.
Supernus Pharmaceuticals Inc. (NASDAQ:SUPN) shares decreased 9.25% to $4.71. The company on April 24 announced that it intends to offer, subject to market and other considerations, $75.0 million aggregate principal amount of Convertible Senior Notes due 2019 (the "Convertible Notes") in a private offering. Supernus also intends to grant to the initial purchasers of the Convertible Notes a 30-day option to purchase up to an additional $15.0 million aggregate principal amount of the Convertible Notes.
AmerisourceBergen Corp. (NYSE:ABC) shares fell 1.45% to $55.01. The company on April 25 said its second-quarter net income plunged to $45.63 million or $0.19 per share from last year's $212.11 million or $0.81 per share. On a continuing operations basis, income declined 6.8 percent to $204.14 million, while earnings per share improved 3.6 percent to $0.87 from $0.84 last year, driven by the 10.6 percent reduction in share count. Analysts expected earnings of $0.88 per share for the quarter. Revenue in the quarter was $20.52 billion, 4.1 percent higher than last year's $19.71 billion. Analysts expected revenues of $21.33 billion.
Bristol Myers Squibb Co. (NYSE:BMY) shares declined 2.73% to $40.32. The company on April 25 said its first-quarter profit fell 45% to $609 million, or 37 cents a share, from $1.1 billion, or 64 cents a share, a year earlier. Net sales fell 27% to $3.83 billion, from $5.25 billion a year earlier. Adjusted earnings were 41 cents per share. Analysts had expected earnings per share of 41 cents on revenue of $3.88 billion.
Additionally, the company on April 23 said its combination of three experimental medicines for hepatitis C successfully cleared the virus in 15 of 16 patients. The results of the 24-week trial were released today before the start of the European Association for the Study of the Liver’s annual meeting in Amsterdam. The company plans to pick a dose for the treatment and move it into final-stage trials later this year.