Sector Update: Healthcare Stocks Softer Late Afternoon

03:57 PM EST, 11/03/2026 (MT Newswires) -- Healthcare stocks were lower late Tuesday afternoon, with the NYSE Healthcare Index easing 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.3%. The iShares Biotechnology ETF (IBB) rose 1%. In corporate news, PTC Therapeutics (PTCT) shares jumped past 11% after it said Tuesday its board has authorized a share repurchase program for up to $500 million of its outstanding common stock. Royal Philips (PHG) shares added 3.3% after it posted higher Q3 sales. The company also said it continues to expect sales growth of 3% to 4.5% for 2026. Additionally, Philips said its Respironics unit reached an agreement in principle with the US Department of Justice to resolve previously disclosed criminal and civil investigations related to a recall. Medical Properties Trust (MPT) shares fell past 7% after BNP Paribas downgraded the company to neutral from outperform. Pfizer (PFE) raised its full-year outlook on Tuesday as it reported third-quarter results above Wall Street estimates. The shares were still down 2.5%.