Health Winners & Losers: Amgen

Health stocks edged upward -- amid a slew of earnings -- but lagged the broader indices Tuesday.

First, after Monday's market close, Amgen (AMGN Quote) reported a 2% decline in profit but skated past Wall Street views with adjusted EPS of $1.14 a share on revenue of $3.76 billion, vs. expectations for $1.02 a share on revenue of $3.58 billion. The company also raised profit and revenue guidance for the full year.

The earnings came just three days after the company announced positive top-line results for a pivotal late-stage study on its lead pipeline prospect, bone drug denosumab, in women with post-menopausal osteoporosis.

Shares rose $1.74, or 2.9%, to $62.22 Tuesday. The stock is a component of the Nasdaq and Amex biotechnology indices as well as the Amex pharmaceutical index, which were up 1%, 1%, and 0.6%, respectively.

Not faring as well, pharmaceutical company Sepracor's (SEPR Quote) shares fell $3, or 14.7%, to $17.41. The company reported adjusted profit of 6 cents a share on revenue of $294 million, missing Wall Street views of 23 cents a share on revenue of $303 million. Sepracor raised its profit guidance to between $4.20 and $4.60 a share, based on a tax benefit. But the company scaled back revenue guidance slightly to between $1.28 billion and $1.38 billion, down slightly from prior guidance of $1.35 billion to $1.45 billion.

Generic-drug maker Teva Pharmaceutical (TEVA Quote) reported profit of $539 million, or 65 cents a share, up from 63 cents a share a year prior on revenue that climbed 18% to $2.82 billion. Analysts were looking for earnings of 64 cents a share on revenue of $2.68 billion, according to Thomson Reuters. The company's board issued a 13-cent dividend for the second quarter, to be paid on Aug. 20 with tax withheld at a 16.5% rate.