Health care stocks declined late Thursday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each shedding 0.9%.

The iShares Biotechnology ETF (IBB) eased 0.1%.

In corporate news, Humana (HUM) is working with entrepreneur Mark Cuban on a potential pharmacy partnership through Cuban's Cost Plus Drugs venture, Bloomberg reported, citing comments made by Humana's Chief Executive Jim Rechtin at an industry event. Humana shares were down 1.4%.

Cross Country Healthcare (CCRN) shares fell 20% after it reported Thursday the termination of its merger agreement with Aya Healthcare.

Philips (PHG) shares dropped 5% after Reuters reported that executives indicated at an industry event that 2026 organic sales growth is unlikely to double from roughly 2% this year. The company later said it still expects comparative sales growth to accelerate sequentially in 2026 toward mid-single-digit levels, while noting this does not imply doubling growth every single year in its multiyear trajectory.

Regentis Biomaterials (RGNT) shares fell 11% in their debut on the New York Stock Exchange American after the company priced its initial public offering at $8 a share, raising $10 million in gross proceeds.