Health Stocks in Motion

Shares of Align Technology(ALGN Quote) were among the best-performing health-related stocks Wednesday, rising 21% after the company posted first-quarter earnings and sales above expectations.

The maker of teeth-straightening products posted earnings of $1.9 million, or 3 cents a share, on sales of $51.2 million. Analysts surveyed by Thomson First Call were expecting break-even earnings on sales of $46.9 million. A year ago the company posted pro forma earnings of $2.8 million, or 4 cents a share, on sales of $39.2 million. Shares were trading up $1.45 to $8.40.

Senomyx(SNMX Quote) rose 8% after the company announced a three-year extension to its discovery and development agreement with Nestle. Under the extension, Nestle will pay the company incremental discovery and development funding of up to $6.6 million. Upon commercialization of products containing flavors and flavor enhancers, Senomyx will receive royalty payments tied to sales targets. The new agreement between the two companies relates to the discovery and commercialization of flavors and flavor enhancers in the dehydrated and culinary food and frozen food segments. Shares of Senomyx were trading up 88 cents to $11.45.

Shares of St. Jude Medical(STJ Quote) rose 10% after the medical device maker posted first-quarter earnings and sales that topped expectations and said that second-quarter earnings would beat expectations as well. Excluding research and development expenses related to an acquisition, the company earned $131.8 million, or 35 cents a share, on sales of $663.9 million. Analysts were expecting earnings of 33 cents a share on sales of $646.5 million. A year ago the company earned $95.2 million, or 26 cents a share, on sales of $548.6 million. Looking ahead, St. Jude forecast second-quarter earnings of 35 cents to 37 cents a share, ahead of the 34 cents that analysts had been expecting. Shares were trading up $3.47 to $39.73.

Medicines Co.(MDCO Quote) fell 2% after the drug developer posted first-quarter earnings and sales that fell short of expectations. The company earned $2.3 million, or 5 cents a share, on sales of $43.6 million. Analysts were expecting earnings of 6 cents a share on sales of $44.5 million. A year ago the company earned $4.2 million, or 8 cents a share, on sales of $31.3 million. Shares were trading down 47 cents to $22.03.