09:17 AM EDT, 04/10/2024 (MT Newswires) -- Health care stocks were declining premarket Wednesday as the Health Care Select Sector SPDR Fund (XLV) was down 1% and the iShares Biotechnology ETF ( IBB ) was 1.9% lower recently.

Royal Philips (PHG) said its Philips Respironics subsidiary will continue to prioritize completing the remediation of the sleep and respiratory care devices under the unit's voluntary June 2021 recall. Royal Philips was down 0.2% pre-bell.

CVS Health ( CVS ) said the Michigan Department of Health and Human Services has recommended that its Aetna Better Health of Michigan should continue serving beneficiaries of Medicaid and the Children's Health Insurance Program under a new contract. CVS Health ( CVS ) was 0.3% lower in recent premarket activity.

Centene ( CNC ) said its Meridian in Michigan unit has been picked by Michigan Department of Health and Human Services to keep serving as a Medicaid health plan for the Comprehensive Health Care Program. Centene ( CNC ) was 1.5% higher premarket.