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Sector Update: Health Care Stocks Advance Premarket Friday

· 02/05/2021 04:23

09:10 AM EST, 02/05/2021 (MT Newswires) -- Health care stocks were advancing premarket Friday. The Health Care SPDR (XLV) was 0.47% higher and the iShares NASDAQ Biotechnology Index (IBB) was up 0.65%.

Regeneron Pharmaceuticals (REGN) was advancing by more than 2% after posting Q4 adjusted earnings of $9.53 per diluted share, up from $7.50 a year ago. Analysts polled by Capital IQ expected $8.29.

Sanofi (SNY) was more than 2% higher after posting Q4 business earnings of EUR1.22 ($1.46) per share, unchanged from the prior year period. The average Street estimate from analysts polled by Capital IQ was for earnings of EUR1.17 per share.

Zimmer Biomet Holdings (ZBH) was rallying past 5% as it posted Q4 adjusted earnings of $2.11 per share, down from $2.30 per share a year ago. Analysts polled by Capital IQ projected EPS of $2.06. Separately, Zimmer Biomet said it will spinoff its spine and dental businesses into a single independent, publicly traded company so it can focus on the orthopedics market, which it identified as a high growth segment.