Updated from 4:11 p.m. EDT

Shares of

Synovis Life Technologies

(SYNO)

were among the worst-performing health and pharmaceutical stocks Wednesday, falling 7.9% after the company posted fourth-quarter earnings that missed expectations.

The company earned 2 cents a share on sales of $14.6 million. Analysts surveyed by Thomson First Call were expecting earnings of 4 cents a share on sales of $16.1 million. The company said its surgical and interventional businesses confronted "unexpected" changes in their markets, and financial results were "disappointing" for it and its shareholders during fiscal 2004. Looking ahead, the company said it would continue to refrain from providing financial guidance for 2005 or any other period until "market conditions stabilize." The company withdrew guidance at the end of the third quarter. Shares traded down 93 cents to $10.92.

Humana

(HUM) - Get Report

rose 9.3% after the health insurer raised its 2004 earnings outlook. The company now expects to post a 2004 profit of $1.69 a share, up from previous guidance of $1.66 to $1.69 a share. Analysts had been expecting earnings of $1.66. Looking ahead, Humana said 2005 earnings would be 15% higher than 2004 estimates, which implies earnings of $1.94 a share. Analysts had been forecasting earnings of $1.92. Shares traded up $2.31 to $27.13.

Shares of

Pozen

(POZN)

rose 11% after an analyst at Wells Fargo Securities upgraded the stock to buy from hold. The firm said the company's Trexima drug, which is used to treat migraines, has the potential to be a big hit for the company if the Food and Drug Administration approves the drug. Wells Fargo also slapped an $11 price tag on shares of Pozen. Shares traded up 76 cents to $7.70.

Other health care volume movers included

Pfizer

(PFE) - Get Report

, up 46 cents to $28.23;

Merck

(MRK) - Get Report

, up 8 cents to $27.72;

Schering-Plough

(SGP)

, up 56 cents to $18.41;

Amgen

(AMGN) - Get Report

, up 92 cents to $60.96; and

Genentech

(DNA)

, up 88 cents to $49.13.