During trading today, the S&P 500 dropped 0.7%, and the Health Care sector (XLV) showed little change.
As a proxy for the sector, the ETF tracked closer to the overall market today than over the past month. Entering today's trading, XLV was up 1% over the last thirty trading days. The S&P 500, in comparison, went up 1.2%.
Magellan Health Services (MGLN) was a major loser in the sector, falling 13.2% (-$7.30) to close at $48.20 with 3.4 million shares moving. The stock traded in a range of $46.75 to $55.55. Shares have shown some positive movement over the last two months as the price has climbed $7.09 (17.2%) from a price of $41.11 on June 1, 2012.
IRIDEX Corporation (IRIX) was a significant gainer in the sector, rising 8.4%. The stock closed at $3.48 with 8,313 shares moving. The stock traded in a range of $3.15 to $3.48. Similarly, Achillion Pharmaceuticals (ACHN) gained today, increasing 36 cents (+5.8%) to close at $6.62.
Impax Laboratories (IPXL) rose 8.3% to close at $22.22, cross its 50-day moving average of $20.61 and 200-day moving average of $21.66. Viropharma (VPHM) declined 6% to close at $21.71, moving below its 50-day moving average of $22.42 and 200-day moving average of $24.40.
PSS World Medical (PSSI) rose 3.8% to close at $20.89, approaching its 50-day moving average of $21.08. It has also moved closer to its 200-day moving average of $22.53. Myriad Genetics (MWIV) fell 4.1% to close at $24.85, moving closer to its 50-day moving average of $24.80. Also, the stock moved closer to its 200-day moving average of $89.82.
Medifast (MED) hit a new 52-week high today, reaching $28.24 to top the previous high of $27.34.