Third-quarter results of the healthcare sector have been unimpressive, with earnings of companies that have reported so far down 17.8% on 4.3% revenue growth. However, the earnings beat ratio of 77.4% and revenue beat ratio of 61.3% are quite assuring. Combining the actual results with the estimates for the still-to-report companies, the total earnings of the sector are expected to decline 18.6% despite revenue growth of 5.5%.
Many industry bigwigs reported solid results, with some beating on earnings or revenues or both. Despite this, pharma ETFs have been in the red over the past month. VanEck Vectors Pharmaceutical ETF (PPH – Free Report) , iShares U.S. Pharmaceuticals ETF (IHE – Free Report) , Invesco Dynamic Pharmaceuticals ETF (PJP – Free Report) , SPDR S&P Pharmaceuticals ETF (XPH – Free Report) and First Trust Nasdaq…
