3 Healthcare Stock Stories for an Investment Wellness Weekend

Bristol-Myers Squibb Co. (NYSE:BMY): Closing price $43.70

On Friday, Zacks downgraded Bristol-Myers Squibb to Underperform from Neutral, “following its lackluster performance in the second quarter of 2013 and the subsequent trimming of the 2013 guidance by the company.” The stock carries a Zacks Rank Number 5 (Strong Sell). The report by Zacks reads in part that “Bristol-Myers performed disappointingly in the second quarter of 2013 with both earnings and revenues declining from the year-ago quarter. Bristol-Myers cut its outlook for 2013 reflecting negative currency movement and the recall of Fervex, a local over-the-counter product in France, and other international markets.”

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Northwest Biotherapeutics Inc. (NASDAQ:NWBO): Closing price $3.50

The biotech firm developing DCVax personalized immune therapies for solid tumor cancers, announced Friday that on Thursday, it reached an agreement with institutional investors, including an existing healthcare focused institutional investor and a dedicated healthcare mutual fund for a registered direct placement of $15 million worth of common stock at $3.35 per share. This, plus an additional over-allotment warrant, exercisable within 12 months, to sell an additional $3.75 million of common stock at the same price which, if exercised, would bring gross proceeds to the firm of $18.75 million.

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Health Management Associates Inc. (NYSE:HMA): Closing price $13.24

Health Management announced that it is willing to allow the dissident shareholder Glenview Capital Partners as many as five board seats, but it does not go along with a proxy firm’s recommendation that shareholders replace the entire board. The hospital operator proposed immediately adding an unspecified number of board nominees put forth by shareholder activist Glenview Capital Partners, an offer that could assuage the tension between the two sides.

The proposal to Glenview, which included naming one of the fund’s nominees the chairman, is a week after Health Management agreed to be acquired by rival hospital operator Community Health Systems Inc. at $3.9 billion. Glenview is the largest owner of both firms’ shares but has been pressing to replace Health Management’s board via a consent solicitation.

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