2 Healthcare Stocks Shooting Higher Following Earnings Reports

Celgene Corporation (NASDAQ:CELG) reported net income above Wall Street’s expectations for the fourth quarter. Net income for the biotechnology company rose to $410.2 million (91 cents per share) vs. $209.6 million (44 cents per share) in the same quarter a year earlier. This marks a rise of 95.7% from the year earlier quarter. Revenue rose 19.8% to $1.28 billion from the year earlier quarter. CELG reported adjusted net income of $1.05 per share. By that measure, the company beat the mean estimate of 95 cents per share. Analysts were expecting revenue of $1.29 billion.

“Our 2011 record financial and operational results reflect the strength of our operating momentum worldwide in a dynamic and challenging economic environment,” said Bob Hugin, Chairman and Chief Executive Officer of Celgene Corporation. “The accomplishments of 2011 have strategically positioned us to capitalize on multiple transformational milestones for Celgene in 2012.”

Competitors to Watch: Novartis AG (NYSE:NVS), SuperGen, Inc. (NASDAQ:SUPG), Pfizer Inc. (NYSE:PFE), GlaxoSmithKline plc (NYSE:GSK), Bristol Myers Squibb Co. (NYSE:BMY), Genzyme Corporation (NASDAQ:GENZ), Cell Therapeutics, Inc. (NASDAQ:CTIC), Merck & Co., Inc. (NYSE:MRK), Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), and Sanofi-Aventis SA (NYSE:SNY).

Covidien plc (COV) reported its results for the first quarter. Net income for Covidien plc rose to $494 million ($1.02 per share) vs. $427 million (86 cents per share) in the same quarter a year earlier. This marks a rise of 15.7% from the year earlier quarter. Revenue rose 4.7% to $2.9 billion from the year earlier quarter. COV was about in line with expectations as the mean analyst estimate of $1.03 per share. Analysts were expecting revenue of $2.92 billion.

“We are off to an excellent start in fiscal 2012, with good sales gains, record gross and operating margins and double-digit EPS growth,” said Jos E. Almeida, President and CEO. “This strong performance was again led by our largest business segment, Medical Devices, which delivered growth fueled by double-digit advances in Energy and Vascular products.

Competitors to Watch: C.R. Bard, Inc. (NYSE:BCR), Teleflex Incorporated (NYSE:TFX), Becton, Dickinson and Co. (NYSE:BDX), Baxter International Inc. (NYSE:BAX), Angiotech Pharmaceuticals, Inc. (NASDAQ:ANPI), CareFusion Corporation (NYSE:CFN), CONMED Corporation (NASDAQ:CNMD), AngioDynamics, Inc. (NASDAQ:ANGO), and Masimo Corporation (NASDAQ:MASI).

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com