Today's Health Winners and Losers

Affymetrix is burned after its first-quarter results miss both its own and Wall Street's targets.
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Shares of

Affymetrix

(AFFX)

were among the worst-performing health-related stocks Friday, slumping 16% after the biotech company's first-quarter results came in below expectations.

The company earned $1.8 million, or 3 cents a share, on revenue of $86.4 million. Analysts polled by Thomson First Call expected earnings of 4 cents a share on revenue of $90.3 million. In January, the company projected first-quarter earnings of 5 cents to 7 cents a share, with total sales of roughly $91 million. During the year-earlier quarter, the company posted a profit of $16.2 million, or 24 cents a share, on revenue of $88.6 million. Shares were trading down $5.47 to $28.41.

Wyeth

(WYE)

rose 3% after the drugmaker posted first-quarter earnings that topped forecasts. The company earned $1.12 billion, or 82 cents a share. Excluding items, the company earned $1.14 billion, or 84 cents a share, beating analysts' forecast of 73 cents. Revenue totaled $4.88 billion, compared with Wall Street's projection of $4.84 billion. "We delivered outstanding performance across our broad product portfolio and we anticipate six product franchises with sales of one billion dollars or more by year end," the company said. Last year, Wyeth posted first-quarter earnings of $1.08 billion, or 80 cents a share, on revenue of $4.58 billion. Excluding items, the company earned $1.01 billion, or 75 cents a share, last year. Shares were trading up $1.23 to $48.

Shares of

Matria Healthcare

(MATR) - Get Report

sank 17% after the company posted solid first-quarter results but warned that second-quarter results would be below expectations. The health services company posted earnings from continuing operations of $3.4 million, or 16 cents a share, up from $146,000, or a penny a share, a year earlier. Revenue surged to $80.9 million from $39.6 million following an acquisition. Analysts expected earnings of 16 cents a share on revenue of $80.6 million.

Matria forecast second-quarter earnings of 23 cents to 26 cents a share, with revenue of $82 million to $84 million. Analysts project earnings of 28 cents a share and revenue of $92.5 million. Shares were trading down $6.02 to $29.36.

Stryker

(SYK) - Get Report

rose 4% after the maker of orthopedic devices posted better-than-expected first-quarter earnings. The company earned $147.5 million, or 36 cents a share, on revenue of $1.32 billion. Excluding items, the company earned $200.2 million, or 49 cents a share. Analysts expected earnings of 48 cents a share, before items, on revenue of $1.33 billion. During the year-earlier quarter, the company earned $166.7 million, or 41 cents a share, on revenue of $1.2 billion.

For 2006, Stryker sees adjusted earnings of $2.02 a share on revenue growth of 11% to 14%. During 2005, the company earned $1.67 a share on revenue of $4.87 billion. Analysts project 2006 earnings of $2.03 a share on revenue of $5.45 billion, or sales growth of about 12%. Shares were trading up $1.93 to $45.93.

Shares of

Zevex International

(ZVXI)

jumped 15% after the medical device company announced a 3-for-2 stock split. The split is payable on or about May 19 to shareholders of record on May 4. "The board of directors believes the stock split reflects its confidence in the outlook for Zevex, and that the increase in outstanding shares will enhance the trading of the company's stock," the company said. Zevex will have some 5.5 million shares outstanding after the split. The stock split announcement comes just five days before the company posts first-quarter results. Shares were trading up $2.51 to $18.75.

Other health care volume movers included

Boston Scientific

(BSX) - Get Report

, up 21 cents to $22.47;

Pfizer

(PFE) - Get Report

, down 5 cents to $24.90;

Amgen

(AMGN) - Get Report

, down 96 cents to $67.55;

Johnson & Johnson

(JNJ) - Get Report

, up 2 cents to $58.24;

UnitedHealth Group

(UNH) - Get Report

, down 9 cents to $50.03;

Medtronic

(MDT) - Get Report

, down 11 cents to $49.34;

Merck

(MRK) - Get Report

, down 16 cents to $34.84;

Bristol-Myers Squibb

(BMY) - Get Report

, up 20 cents to $24.89;

Schering-Plough

(SGP)

, up 11 cents to $19.51.