Sector Update: Health Care Stocks Edge Higher Pre-Bell Monday

MT Newswires Live10-28

Health care stocks were edging higher pre-bell Monday with the Health Care Select Sector SPDR Fund (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) advancing by 0.5% recently.

Royal Philips (PHG) shares fell by over 16% after the company reported flat Q3 adjusted earnings and lower sales during the period. The company also cut its full-year 2024 comparable sales growth outlook.

Procept BioRobotics (PRCT) shares rose 19% after the company reported a narrowed Q3 net loss as revenue increased during the period. The company also raised its 2024 revenue guidance.

Tyra Bioscience (TYRA) shares advanced by over 3% after the company said the US Food and Drug Administration cleared its Investigational New Drug application for TYRA-300 to treat children with achondroplasia.

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