Update-1 Jan. 23 With IHI down 0.86% but most medical device stocks are near one year highs. Notable movers up today:
Interactive Surgical (ISRG) up 0.78% on earnings report, iRhythm Technologies (IRTC) up 3.69 % to $89.27, Teledoc (TDOC) up 1.36% to $102.80.
Medtech and Drug Stocks to watch: Abbott (ABT and Johnson and Johnson (JNJ) report earnings
A diversified healthcare portfolio should not only have life science stocks but medtech as well. Recents earnings reports show the resilience of this sector. If you do not have individual medical device stocks like ABT and JNJ you can invest in IHI the iShares Medical Device ETF up 31% over one year.
Abbott Labs (ABT) was up 2.3% to the $91 level, a new high on a 7% sales increase.Net earnings were $1.05B or 59 cents a share in-line with analysts forecasts.Guidance was boosted. Sales of FreeStyle Libre a tracking device for measuring blood sugar for diabetics rose 58.5% to $534M.
Johnson and Johnson (JNJ) stock was down under 1% despite beating analyst expectations by a penny. JNJ full year earnngs are expected in the range of $8.95-9.10 . Gains for new drugs in the 4th Quarter were in double digits but below estimates Global WW Pharmaceutical sales were $42.2B up 3.6%.. Overall Q4 pharmaceutical sales were up 3.5% to $10.55B but missed analysts estimates of $10.63B. Remicade sales fell 16% from a year earlier but sales of Stelara for psoriasis gained 18% to $1.7B. WW Medical Device Sales for 2019 were $26B down 3.8%.Q4 Medical Device fell 0.5% to $6.63B.