01:36 PM EDT, 05/08/2024 (MT Newswires) -- Health care stocks were lower Wednesday afternoon, with the NYSE Health Care Index down 0.3% and the Health Care Select Sector SPDR Fund (XLV) decreasing 0.4%.

The iShares Biotechnology ETF (IBB) fell 0.7%.

In corporate news, Globus Medical ( GMED ) shares surged almost 24% after Stifel and Truist Securities raised their respective price targets on the stock following the company's Q1 results.