Sector Update: Health Care Stocks Climb Late Afternoon

MT Newswires Live

Aug 16

Health care stocks gained late Friday afternoon, with the NYSE Health Care Index rising 2% and the Health Care Select Sector SPDR Fund (XLV) adding 1.8%.

The iShares Biotechnology ETF (IBB) advanced 0.8%.

In corporate news, Kura Oncology (KURA) shares rose past 11% after a regulatory filing showed CEO Troy Wilson bought 50,000 shares of the company.

UnitedHealth Group (UNH) jumped more than 12% after Berkshire Hathaway (BRK.A, BRK.B) said in a filing that it bought over 5 million shares of the company in Q2.

Medtronic (MDT) is expected to report fiscal Q1 results above market expectations and likely lift its full-year outlook amid easing tariff impacts and forex tailwinds, according to Needham. Medtronic shares added 1%.

Precigen (PGEN) shares surged 59% after the US Food and Drug Administration approved Papzimeos for adults with recurrent respiratory papillomatosis.

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