01:31 PM EDT, 05/01/2024 (MT Newswires) -- Health care stocks were higher Wednesday afternoon, with the NYSE Health Care Index adding 0.1% and the Health Care Select Sector SPDR Fund (XLV) up 0.2%.

The iShares Biotechnology ETF (IBB) rose 1%.

In corporate news, CVS Health ( CVS ) cut its full-year forecast after a weaker-than-expected Q1, dragged down by utilization pressure in the company's Medicare Advantage business. Its shares tumbled past 16%.