Updated from 1:49 p.m. EDT
Widely held health care stocks were mixed Wednesday, with
slipping on an analyst downgrade and earnings reports from two drugmakers.
Goldman Sachs downgraded Bristol from Buy to Neutral on Wednesday, citing relative valuation and the company's diminishing chances of getting taken over. Shares were recently down 2.6% to $19.14.
After falling earlier in the day,
was recently up 0.8% to $13.50, and
Johnson & Johnson
was up 0.4% to $50.83.
was rising after the company reported flat first-quarter earnings, blaming a strong U.S. dollar and sluggish sales of Effexor, a breadwinner for the company. Shares of the company were rising 0.1% to $42.73 in recent trading.
was on the rise after the company announced it was halting work on three late-stage trial drugs. The company also reported a 19% increase in net profit for the first quarter of fiscal 2009. Also potentially lifting the stock, the company announced it had been contacted by health officials regarding the development and production of a vaccine to help prevent the spread of swine flu. Sanofi-Aventis shares were recently up 5.8% to $28.74.
Among other widely held health care stocks:
was up 0.5% to $33.38.
was up 3.5% to $23.99.
was up 2.4% to $30.89.