01:59 PM EDT, 03/19/2025 (MT Newswires) -- Health care stocks declined Wednesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each shedding 0.5%.

The iShares Biotechnology ETF (IBB) fell 0.5%.

In corporate news, HealthEquity ( HQY ) shares tumbled past 19% after its fiscal Q4 earnings fell short of market estimates, while it raised the top end of its full-year revenue outlook.

UnitedHealth Group's ( UNH ) Optum Rx unit said Wednesday that it's eliminating as much as 25% of prescription drug reauthorizations, or more than 10% of previous pharmacy authorizations. UnitedHealth ( UNH ) shares were down 0.4%.

Regenxbio ( RGNX ) said Wednesday that interim data from two additional patients with Duchenne muscular dystrophy in a phase 1/2 study of investigational gene therapy RGX-202 added to "consistent, robust" microdystrophin and transduction levels across all treated ages. Its shares rose 3.9%.