03:59 PM EDT, 08/29/2025 (MT Newswires) -- Health care stocks rose late Friday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each adding 0.6%.

The iShares Biotechnology ETF (IBB) was little changed.

In corporate news, Picard Medical ( PMI ) shares jumped 19% in their Nasdaq debut after the medical technology company priced its IPO of 4.25 million shares at $4 apiece.

Abbott Laboratories ( ABT ) received CE Mark approval in Europe for its Navitor transcatheter aortic valve implantation system to treat people with symptomatic, severe aortic stenosis who are at low or intermediate risk for open-heart surgery. Abbot shares rose 0.9%.

CVS Health ( CVS ) is currently holding off on offering COVID-19 vaccines in 16 states due to the "current regulatory environment," The New York Times reported, citing a company spokesperson. CVS shares gained 1.4%.

Novo Nordisk ( NVO ) canceled employment contracts for some new hires in Denmark as part of cost-cutting measures, Bloomberg reported. Novo shares climbed 0.7%.