09:14 AM EDT, 08/13/2024 (MT Newswires) -- Health care stocks were edging higher premarket Tuesday with the Health Care Select Sector SPDR Fund ( XLV ) up 0.2% and the iShares Biotechnology ETF ( IBB ) recently advancing by 0.4%.

PACS Group ( PACS ) shares advanced by over 12% after it reported a stronger-than-expected jump in Q2 sales and lifted revenue guidance for the full year.

Evotec (EVO) shares rose past 6% after saying it has made further progress in its collaboration with US drugmaker Bristol-Myers Squibb ( BMY ) on building a molecule glue-based pipeline.

Baxter International ( BAX ) said it has sold its kidney care segment to private equity firm Carlyle Group ( CG ) for $3.8 billion. Baxter International ( BAX ) shares were down more than 4% premarket.