01:46 PM EDT, 07/28/2025 (MT Newswires) -- Health care stocks declined Monday afternoon, with the NYSE Health Care Index decreasing 0.4% and the Health Care Select Sector SPDR Fund (XLV) down 0.3%.

The iShares Biotechnology ETF (IBB) eased 0.1%.

In corporate news, Revvity ( RVTY ) shares fell past 7% after it posted a drop in Q2 adjusted earnings. Revvity ( RVTY ) now expects 2025 adjusted EPS of $4.85 to $4.95 on revenue of $2.84 billion to $2.88 billion. The company previously projected EPS of $4.90 to $5 on revenue of $2.83 billion to $2.87 billion.

AstraZeneca ( AZN ) , Grifols ( GRFS ) , and Argenx (ARGX) appear to be the least exposed to tariffs and least affected by the preliminary trade deal reached between the US and the EU, Barclays said in a note. AstraZeneca ( AZN ) and Grifols ( GRFS ) shares were down 0.8% and 0.5 respectively, while Argenx added 0.8%.

Bausch Health ( BHC ) shares rose 2.4% after it said Monday it plans to cut debt by over $900 million through note redemption and repayment of amounts under a receivables financing facility.