3 Stocks Pulling The Health Care Sector Downward

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One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 17 points (-0.1%) at 16,759 as of Monday, June 16, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,419 issues advancing vs. 1,541 declining with 179 unchanged.

The Health Care sector currently sits up 0.4% versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include Vertex Pharmaceuticals ( VRTX), down 8.0%, Medtronic ( MDT), down 2.7%, UnitedHealth Group ( UNH), down 0.9%, AbbVie ( ABBV), down 0.9% and Eli Lilly and ( LLY), down 0.6%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. Biogen Idec ( BIIB) is one of the companies pushing the Health Care sector lower today. As of noon trading, Biogen Idec is down $2.23 (-0.7%) to $307.75 on light volume. Thus far, 369,522 shares of Biogen Idec exchanged hands as compared to its average daily volume of 1.6 million shares. The stock has ranged in price between $306.76-$312.95 after having opened the day at $309.60 as compared to the previous trading day's close of $309.98.

Biogen Idec Inc. discovers, develops, manufactures, and markets therapies for the treatment of multiple sclerosis (MS), neurodegenerative diseases, hemophilia, and autoimmune disorders in the United States and internationally. Biogen Idec has a market cap of $73.7 billion and is part of the drugs industry. Shares are up 10.9% year-to-date as of the close of trading on Friday. Currently there are 13 analysts that rate Biogen Idec a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Biogen Idec as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Biogen Idec Ratings Report now.

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