03:55 PM EDT, 07/02/2025 (MT Newswires) -- Health care stocks fell late Wednesday afternoon with the NYSE Health Care Index declining 1.1% and the Health Care Select Sector SPDR Fund (XLV) shedding 1%.

The iShares Biotechnology ETF (IBB) rose 1.4%.

In corporate news, health insurance stocks fell after Centene ( CNC ) withdrew its full-year earnings outlook. Molina Healthcare ( MOH ) dropped 22%, UnitedHealth ( UNH ) declined 5.8%, Elevance Health ( ELV ) slumped 11%, and Humana (HUM) lost 4.1%. Centene's ( CNC ) shares tumbled 40% after the company cited lower-than-expected revenue from most states where it offers health insurance marketplace plans.

Oscar Health ( OSCR ) shares dropped 20% after Barclays started coverage of the stock with an underweight rating and a $17 price target.

Surmodics ( SRDX ) discovered unauthorized access to its systems by a third party on June 5 and that some IT systems and data were unavailable due to the breach. The company's shares fell 1%.