Shares of AngioDynamics ( ANGO) were among the best-performing health-related stocks Wednesday, rising 8% after the company posted in-line third-quarter results and raised its fiscal 2006 guidance. The company's earnings for the quarter ended Feb. 25 rose to $1.9 million, or 14 cents a share, from $1.1 million, or 9 cents a share, a year earlier. Revenue increased to $19.8 million from $15.5 million. Analysts polled by Thomson First Call expected earnings of 14 cents a share on revenue of $20 million. AngioDynamics now sees fiscal-year earnings of $7.3 million, or 57 cents a share, on revenue of at least $78 million. Previously, the company predicted earnings of $6.7 million, or 52 cents a share, on revenue of at least $76 million. Analysts project earnings of 55 cents a share and revenue of $77.9 million. Shares traded up $2 to $28.50. Insmed ( INSM) fell 3% after the company said its annual report includes a going-concern qualification from its auditor. Ernst & Young said a history of recurring operating losses and a net capital deficiency "raise substantial doubt about the company's ability to continue as a going concern." Insmed, in the annual report, said that its ability to continue as a going concern depends on its being able to attain additional financing, and ultimately generate positive cash flow and profitability. Since filing the annual report on March 6, Insmed has raised nearly $43 million in cash through the sale of equity. As such, the company believes that the amount of cash it raised -- along with the amount of cash it had on hand before the offering -- will be sufficient to fund operational needs through at least the second quarter of 2007. Shares were off 7 cents to $2. Shares of Laserscope ( LSCP) jumped 11% after the medical device maker received a $7 million order in China for its GreenLight laser systems and fiber optic delivery devices. The order, which will be delivered over the next 12 months, represents the largest ever one-time order for GreenLight products, Laserscope said. "We expect that this order will help us gain a widespread customer base in China, contribute to our revenue growth in 2006 and lead to higher fiber sales and increased profit in 2007 and beyond," Laserscope said. Shares were trading up $2.29 to $23.29.
Immunicon ( IMMC) climbed 14% after the developer of human diagnostic products said Linux-based software for the CellTracks Analyzer II was cleared by the Food and Drug Administration for in vitro diagnostic use. The CellTracks product is currently sold with XP-based software and used for counting and characterizing circulating tumor cells, which predict survival in patients who suffer from metastatic breast cancer. Immunicon said the new software provides an improved user interface and data management, faster scanning time and more flexibility in analysis of the cells. Shares gained 45 cents to $3.65. Other health care volume movers included Generex Biotech ( GNBT), up 57 cents to $4.80; Bristol-Myers Squibb ( BMY), up $2.62 to $25.45; Elan ( ELN), down 59 cents to $13.76; Pfizer ( PFE), up 8 cents to $26.39; Cephalon ( CEPH), down $2.57 to $69.29; Nabi Pharmaceuticals ( NABI), up 86 cents to $5.66; Novavax ( NVAX), up 9 cents to $7.80; Avant Immunotherapeutics ( AVAN), down 3 cents to $2.51; ViroPharma ( VPHM), up 9 cents to $10.99; Boston Scientific ( BSX), down 2 cents to $23.55; Johnson & Johnson ( JNJ), up 15 cents to $60.72; Amgen ( AMGN), up 44 cents to $72.41; Merck ( MRK), up 33 cents to $36.22; and Schering-Plough ( SGP), down 9 cents to $19.21.