were among the best-performing health-related stocks Wednesday, rising 33% after one of the company's catheters received marketing approval from the Food and Drug Administration.
The catheter, called the Cooled ThermoCath 4.5+, is designed to treat benign prostatic hyperplasia in patients with an enlarged prostate. "This longer length catheter expands the indication for Cooled ThermoTherapy and broadens the patient population that can benefit from our therapy," the company said. Urologix will begin marketing the product this month. Shares were trading up $1.50 to $6.03.
Advanced Medical Optics
fell 1% after the company said that it would sell $150 million in convertible notes in a private placement. The company plans to use proceeds from the senior subordinated notes sale to repay its outstanding term loan under its senior credit facility. Shares were trading down 55 cents to $41.75.
fell 9% after the company forecast second-quarter earnings that are below expectations. The company said it expects earnings of 88 cents to 92 cents a share. However, the results include a tax settlement of 11 cents a share; a previously deferred gain that will result in a pretax gain of 4 cents a share; a pretax gain of 5 cents a share related to a reduction in the company's professional liability insurance reserve; and a charge of 4 cents related to additional depreciation expense.
Excluding the gains and losses, the company's guidance calls for earnings of 72 cents to 76 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 77 cents a share. Looking ahead, HCA left its 2005 earnings guidance of $3.05 to $3.20 a share intact. Analysts are expecting earnings of $3.17 a share. Shares were trading down $4.91 to $50.
Despite posting solid fourth-quarter results, shares of
headed lower Wednesday. The company earned $1.9 million, or 22 cents a share, on sales of $17.6 million. The single-analyst estimate called for earnings of 18 cents a share. A year ago, the company earned $1.1 million, or 12 cents a share, on sales of $13.4 million.
Looking ahead, Hi-Tech said it believes that fiscal 2006 sales will grow by 15% to 20%, implying sales of $77.9 million to $81.2 million. The company posted sales of $67.7 million during fiscal 2005. One analyst surveyed by Thomson First Call is expecting sales of $71.8 million. Shares were recently trading down $2.35 to $30.49.
Other health-care volume movers included
, up 3 cents to $27.10;
, down $2.03 to $47.68;
, down 62 cents to $27.24;
( IFLO), down $4.25 to $12.91;
( RX), up 4 cents to $26.80;
Johnson & Johnson
, down 28 cents to $64.50;
, down 47 cents to $69;
, down 9 cents to $31.51;
( ABRX), up 1 cent to $1.43;
( SGP), down 5 cents to $19.40;
( MLNM), up 3 cents to $9.56;
, down 3 cents to $7.20; and
, up 2 cents to $24.92.