5 Stocks Pulling The Health Care Sector Downward
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our modelTwo out of the three major indices are trading lower today with the Dow Jones Industrial Average (^DJI) trading down 40 points (-0.3%) at 14,679 as of Wednesday, April 24, 2013, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,751 issues advancing vs. 1,159 declining with 143 unchanged.The Health Care sector currently sits down 0.57 versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include Amgen (AMGN), down 5.92, Vertex Pharmaceuticals (VRTX), down 4.21, Celgene Corporation (CELG), down 3.95, Gilead (GILD), down 3.49 and Biogen Idec (BIIB), down 1.90. A company within the sector that increased today was Sanofi (SNY), up 0.68.TheStreet Ratings group would like to highlight 5 stocks pushing the sector lower today:5. Edwards Life (EW) is one of the companies pushing the Health Care sector lower today. As of noon trading, Edwards Life is down $19.09 (-23.1%) to $63.72 on heavy volume Thus far, 7.3 million shares of Edwards Life exchanged hands as compared to its average daily volume of 1.1 million shares. The stock has ranged in price between $63.50-$66.60 after having opened the day at $66.55 as compared to the previous trading day's close of $82.81. Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients worldwide. Edwards Life has a market cap of $9.5 billion and is part of the health services industry. The company has a P/E ratio of 33.7, above the S&P 500 P/E ratio of 17.7. Shares are down 8.2% year to date as of the close of trading on Tuesday.TheStreet Ratings rates Edwards Life as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Edwards Life Ratings Report now.Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100%. See his top picks for 14-days FREE.
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