Sector Update: Healthcare Stocks Retreat Late Afternoon

03:57 PM EST, 11/05/2026 (MT Newswires) -- Healthcare stocks declined late Thursday afternoon, with the NYSE Healthcare Index falling 2% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 2.4%. The iShares Biotechnology ETF (IBB) slumped 4.5%. In corporate news, Veracyte (VCYT) shares fell 54% after the company's Q3 results and Leerink Partners' rating downgrade to market-perform from outperform. Novavax (NVAX) shares fell over 8% after the company reported lower Q3 revenue. Becton Dickinson (BDX) and Cardinal Health (CAH) reported stronger-than-expected quarterly results on Thursday, while the former's fiscal 2027 earnings outlook missed consensus estimates. Becton Dickinson shares rose 1.6%, and Cardinal gained 2.6%.