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Last Update: 22-Aug-12 11:28 ET
The Healthcare sector (-0.05%) is trading flat today, outperforming the S&P 500
The big news this morning was the acquisition of Sunrise Senior Living (SRZ) by Health Care REIT (HCN) for $14.50 per share in an all-cash transaction. The buyout price represents a 62% premium over yesterday's closing price of $8.93. HCN will acquire Sunrise's 20 wholly owned seniors housing communities and Sunrise's interest in joint ventures that own 105 senior housing communities. The communities have a median age of eight years, and 90% of the communities are Sunrise's "mansion" prototype. The portfolio is concentrated in New York, Los Angeles, San Francisco, Washington, D.C., Philadelphia, Boston, Chicago, and London. Approximately 50% of the properties are located in top 5 Metropolitan Statistical Areas (MSAs) and approximately 85% of the properties are located in top 20 MSAs within their respective countries.
Gainers on news: Sunrise Senior Living (SRZ +59.71%) To be acquired Health Care REIT (HCN) for $14.50 per share Marina Biotech (MRNA +13.33%) Entered into a licensing agreement with Novartis Institutes for Biomedical Research, received $1 mln in upfront fees Hansen Medical (HNSN +4.7%) Announced it has received 30 additional U.S. patents for medical robotics since January 2011Decliners on news: Peregrine Pharmaceuticals (PPHM -16.49%) Negative blog mention regarding the company's Phase 2 results for BavituximabGainers on earnings: No notable gainers on earnings Decliners on earnings: Globus Medical (GMED -1.48%) Reported Q2 EPS of $0.21, revs rose 18.6% yoy to $96.0 mln (no estimates) China Kanghui (KH -0.49%) Reported Q2 revs rose 23.6% yoy to RMB 101.1 mln; non-GAAP net income rose 33% yoy to RMB 39.1 mln.
Upgrades/Downgrades: NeoGenomics (NGNM +15.38%) Initiated with a Buy at Craig Hallum, target $5 Roche Holdings (RHHBY -0.11%) Upgraded to Overweight from Neutral at JP Morgan The Medicines Company (MDCO -1.56%) Initiated with a Neutral at BofA/Merrill.
Gainers on news: Sunrise Senior Living (SRZ +59.71%) To be acquired Health Care REIT (HCN) for $14.50 per share Marina Biotech (MRNA +13.33%) Entered into a licensing agreement with Novartis Institutes for Biomedical Research, received $1 mln in upfront fees Hansen Medical (HNSN +4.7%) Announced it has received 30 additional U.S. patents for medical robotics since January 2011Decliners on news: Peregrine Pharmaceuticals (PPHM -16.49%) Negative blog mention regarding the company's Phase 2 results for BavituximabGainers on earnings: No notable gainers on earnings Decliners on earnings: Globus Medical (GMED -1.48%) Reported Q2 EPS of $0.21, revs rose 18.6% yoy to $96.0 mln (no estimates) China Kanghui (KH -0.49%) Reported Q2 revs rose 23.6% yoy to RMB 101.1 mln; non-GAAP net income rose 33% yoy to RMB 39.1 mln.
Upgrades/Downgrades: NeoGenomics (NGNM +15.38%) Initiated with a Buy at Craig Hallum, target $5 Roche Holdings (RHHBY -0.11%) Upgraded to Overweight from Neutral at JP Morgan The Medicines Company (MDCO -1.56%) Initiated with a Neutral at BofA/Merrill.
