03:55 PM EST, 01/29/2025 (MT Newswires) -- Health care stocks fell late Wednesday afternoon, with the NYSE Health Care Index shedding 0.7% and the Health Care Select Sector SPDR Fund (XLV) down 0.4%.

The iShares Biotechnology ETF (IBB) decreased 0.3%.

In corporate news, Henry Schein (HSIC) shares jumped nearly 5% after The Wall Street Journal reported that KKR (KKR) has bought a large stake in the company.

Leap Therapeutics ( LPTX ) shares fell 13% after Baird and HC Wainwright downgraded the stock to neutral. Baird also trimmed its price target to $1.25 from $9. The stock was previously rated outperform at Baird and buy at HC Wainwright.

Danaher ( DHR ) reported Q4 earnings that trailed market estimates, while the medical technology company expects adjusted core revenue to decline in Q1. Its shares dropped 9.3%.

Teva Pharmaceutical Industries ( TEVA ) shares fell 13% after it reported lower Q4 results.