04:23 PM EST, 03/04/2024 (MT Newswires) -- Health care stocks were mixed late Monday afternoon, with the NYSE Health Care Index up 0.2% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.2%.

The iShares Biotechnology ETF (IBB) fell 0.9%.

In corporate news, QuidelOrtho ( QDEL ) shares were down about 2.6% at the close after UBS downgraded the stock to sell from neutral and cut its price target to $42 from $70.

Chief Executive Tim Wentworth said that Walgreens Boots Alliance ( WBA ) is not planning on selling its Shields Health Solutions specialty-pharmacy business. Bloomberg reported in January that Walgreens was exploring options that included a sale of Shields in a deal that might value the division at more than $4 billion. Walgreens shares dropped 4.2%.

Zevra Therapeutics ( ZVRA ) tumbled 12% after the firm said the US Food and Drug Administration extended the review period for the company's new drug application for arimoclomol, a potential treatment for Niemann-Pick disease type C.