01:58 PM EDT, 08/22/2024 (MT Newswires) -- Health care stocks were lower Thursday afternoon, with the NYSE Health Care Index marginally lower and the Health Care Select Sector SPDR Fund (XLV) shedding 0.4%.

The iShares Biotechnology ETF (IBB) fell past 1%.

In corporate news, Evolent Health ( EVH ) shares jumped 15%. The company is holding talks with private equity firms and other companies over a potential sale after receiving interest, Reuters reported Thursday.

Rafael ( RFL ) has agreed to merge with Cyclo Therapeutics ( CYTH ) , the companies said. Cyclo shares tumbled 27% and Rafael ( RFL ) spiked 3%.

Stryker (SYK) shares were rising 1.1% after the company said Thursday it has agreed to buy Vertos Medical.