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LH

LabCorp

$138.31

2.34 (1.72%)

, UNH

UnitedHealth

$143.39

9.26 (6.90%)

06:20
10/19/16
10/19
06:20
10/19/16
06:20

Piper says LabCorp, UnitedHealth relationship remains 'healthy'

Piper Jaffray analyst William Quirk says he found on UnitedHealth's (UNH) policy website that Beacon Laboratory Benefit Solutions is expanding to Texas on March 1, 2017. BeaconLBS is a front-end support tool designed by LabCorp (LH) and UnitedHealthcare to ensure physicians order the correct test for the patient as well as to curb unnecessary testing, Quirk tells investors in a research note. He believes the Texas expansion suggests the LabCorp and UnitedHealth relationship "remains healthy" despite Quest Diagnostics (DGX) and Optum signing a billing process arrangement. The move into Texas could increase LabCorp's organic revenue growth by 1.4% through Q3 of 2017 to Q2 of 2018, or $91M in revenue, Quirk estimates. He reiterates an Overweight rating on the shares with a $156 price target.

LH

LabCorp

$138.31

2.34 (1.72%)

UNH

UnitedHealth

$143.39

9.26 (6.90%)

DGX

Quest Diagnostics

$83.70

0.66 (0.79%)

  • 20

    Oct

  • 26

    Oct

  • 06

    Nov

  • 11

    Nov

  • 11

    Nov

LH LabCorp
$138.31

2.34 (1.72%)

09/09/16
SBSH
09/09/16
INITIATION
Target $156
SBSH
Neutral
LabCorp initiated with a Neutral at Citi
Citi analyst Ralph Giacobbe started LabCorp with a Neutral rating and $156 price target. The analyst views the valuation as fair given the questions around growth drivers.
09/13/16
FBCO
09/13/16
NO CHANGE
FBCO
LabCorp weakness a buying opportunity, says Credit Suisse
09/13/16
CHLM
09/13/16
NO CHANGE
CHLM
LabCorp impact from Quest-Optum collaboration limited, says Craig-Hallum
Craig-Hallum analyst Bill Bonello said the Quest Diagnostics (DGX) and Optum, a division of United Healthcare (UNH), collaboration does not put LabCorp's (LH) revenue at risk. The collaboration does not create any lab benefit management service, or a preferred lab network with Quest at the hub, that would drive business to Quest labs or compete with Labcorp's Beacon LBS lab management business, the analyst wrote. Bonellow said UnitedHealthcare and LabCorp continue to work together to expand the Beacon LBS model to other markets and we would expect to see the Beacon lab network expand to other payors overtime. Also, the analyst said the collaboration does not impact LabCorp's contract with UnitedHealthcare, or UHC, and and has no impact on that contract today and does not imply a change to UHC's contracting strategy going forward. Bonello rates LabCorp a Buy with a $160 price target.
09/14/16
ADAM
09/14/16
NO CHANGE
Target $155
ADAM
Buy
LabCorp weakness a buying opportunity, says Canaccord
Canaccord analyst Mark Massaro noted LabCorp (LH) shares sold off yesterday on news that its rival, Quest Diagnostics (DGX), announced a partnership with Optum, a subsidiary of UnitedHealth (UNH). The analyst said LabCorp does not believe Quest can wrestle away UnitedHealth's long-standing lab services contract when it goes up for renewal in 2018. Massaro expects LabCorp to deliver steady quarterly beats and said the company is well positioned to capture its losses in the second half of 2016. Massaro reiterated his Buy rating and $155 price target on LabCorp shares.
UNH UnitedHealth
$143.39

9.26 (6.90%)

09/22/16
PIPR
09/22/16
NO CHANGE
Target $155
PIPR
Overweight
UnitedHealth won VA contract worth $1B per year, says Piper Jaffray
Piper Jaffray analyst Sean Wieland says UnitedHealth unit Optum has won a contract with the U.S. Department of Veterans Affairs to provide medical disability examinations. The analyst estimates the contract, awarded to Optum wholly owned subsidiaries Logistics Health and Medical Support Los Angeles, represents $1B per year. Wieland estimates the award will be neutral to earnings in year one and become accretive in 2018. He reiterates an Overweight rating on UnitedHealth shares with a $155 price target.
09/22/16
EVER
09/22/16
INITIATION
Target $155
EVER
Buy
UnitedHealth initiated with a Buy at Evercore ISI
Evercore ISI initiated UnitedHealth with a Buy and a $155 price target.
10/18/16
EVER
10/18/16
NO CHANGE
EVER
Evercore says UnitedHealth displaces Aetna for managed care deal in Missouri
Analysts at Evercore ISI noted that Centene (CNC) and Wellcare (WCG) announced managed care contract awards in Missouri, where they are incumbents. The firm also said that the state's contract database names UnitedHealth (UNH) as the third winner, replacing the third incumbent, Aetna (AET). The firm assumes that Centene and Wellcare will retain their existing lives and that Aetna's current lives and the expansion lives will be divided evenly among the three contract awardees. Evercore said it assumed a Missouri renewal for Centene and views the win as removing downside risk, adding that the loss is "manageable" for Aetna but could raise concerns about the Medicaid business in general.
DGX Quest Diagnostics
$83.70

0.66 (0.79%)

08/31/16
08/31/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Under Armour (UA) downgraded to Hold from Buy at Argus by John Staszak, based on his belief that the company will have to make significant investments to expand its business going forward. 2. First Solar (FSLR) downgraded to Hold from Buy at Argus by analysts Stephen Biggar and Jasper Hellweg, citing what they see as the company's lack of earnings visibility. The analysts say that the company's backlog is falling, while it is encountering "intense price competition." 3. Palo Alto Networks (PANW) downgraded to Outperform from Strong Buy at Raymond James by analyst Michael Turits, citing the company's weaker than expected guidance for FY17. Palo guided product growth to 12%-13%, nearly halfway below the consensus estimate of 22%, said Turits, who lowered his price target for the shares to $165 from $180. 4. G-III Apparel (GIII) downgraded to Sell from Hold at Stifel. Despite the recent decline in the stock, its risk/reward ratio is unfavorable given the multiple risks faced by the company, according to Stifel analyst Jim Duffy. 5. Quest Diagnostics (DGX) downgraded to Neutral from Buy at Mizuho. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/09/16
SBSH
09/09/16
INITIATION
Target $86
SBSH
Neutral
Quest Diagnostics initiated with a Neutral at Citi
Citi analyst Ralph Giacobbe started Quest Diagnostics with a Neutral rating and $86 price target. The analyst views the valuation as fair given the questions around growth drivers.

TODAY'S FREE FLY STORIES

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General news
FX Update: The euro eked out a fresh low »

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ACTS

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Actions Semiconductor to host special shareholder meeting »

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  • 09

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MTN

Vail Resorts

$160.92

-1.81 (-1.11%)

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  • 08

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MON

Monsanto

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-0.71 (-0.67%)

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USAC

USA Compression

$18.01

-0.14 (-0.77%)

20:15
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USA Compression 4.5M share Spot Secondary priced at $16.25 »

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  • 09

    Dec

ICHR

Ichor Holdings

20:11
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Ichor Holdings 5.9M share IPO priced at $9.00 »

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  • 09

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GOOG

Alphabet

$776.42

5.23 (0.68%)

, GOOGL

Alphabet Class A

$795.17

3.7 (0.47%)

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YouTube-NMPA settlement estimated at over $40M, NY Times says »

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GOOG

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$776.42

5.23 (0.68%)

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Alphabet Class A

$795.17

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SNE

Sony

$29.16

0.55 (1.92%)

VIVHY

Vivendi

$18.83

-0.455 (-2.36%)

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  • 15

    Jan

GOOG

Alphabet

$776.42

5.23 (0.68%)

, GOOGL

Alphabet Class A

$795.17

3.7 (0.47%)

19:46
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YouTube reaches agreement to pay out unclaimed song royalties »

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$795.17

3.7 (0.47%)

SNE

Sony

$29.16

0.55 (1.92%)

VIVHY

Vivendi

$18.83

-0.455 (-2.36%)

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  • 15

    Jan

ATH

Athene Holding

19:33
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12/08
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Syndicate
Athene Holding 27M share IPO priced at $40.00 »

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  • 09

    Dec

MMM

3M

$175.88

-0.17 (-0.10%)

19:29
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3M to sell identity management business to Gemalto for $850M »

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  • 13

    Dec

SMI

SMIC

$5.99

-0.54 (-8.27%)

19:24
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SMIC announces 10-for-1 reverse stock split »

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VTR

Ventas

$62.61

0.41 (0.66%)

19:10
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Ventas raises quarterly dividend 6% to 77.5c per share »

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WFC

Wells Fargo

$57.29

0.01 (0.02%)

19:08
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Periodicals
Wells Fargo chairman appointed to sales investigation committee, Reuters says »

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  • 08

    Dec

WFC

Wells Fargo

$57.29

0.01 (0.02%)

19:03
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Periodicals
Former Wells Fargo managers file suit over fake accounts, Bloomberg reports »

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  • 08

    Dec

EIX

Edison International

$69.44

-0.17 (-0.24%)

18:42
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Edison International raises annual dividend 13% to $2.17 per share »

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PLM

PolyMet Mining

$0.87

0.0001 (0.01%)

18:24
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Breaking Earnings news story on PolyMet Mining »

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MTCH

Match Group

$18.38

0.18 (0.99%)

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Match Group launches 'Swipe Ventures,' says Tinder CEO to step down »

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BIIB

Biogen

$289.54

4.24 (1.49%)

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  • 08

    Dec

HIVE

Aerohive

$5.41

0.18 (3.44%)

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ENLK

EnLink Midstream Partners

$17.45

0.2 (1.16%)

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EnLink Midstream

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Outrigger Energy nears sale to midstream services provider, Forbes says »

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ENLK

EnLink Midstream Partners

$17.45

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ENLC

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TRGP

Targa Resources

$54.20

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ETP

Energy Transfer Partners

$35.13

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POST

Post Holdings

$78.65

0.96 (1.24%)

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Post Holdings settles egg antitrust class action claims »

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ENZN

Enzon

$0.44

-0.0027 (-0.62%)

17:54
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Icahn says enters standstill pact with Enzon »

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LDOS

Leidos

$52.27

0.15 (0.29%)

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Leidos awarded $350M government contract »

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DDC

Dominion Diamond

$10.27

0.21 (2.09%)

17:50
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  • 09

    Dec

FNSR

Finisar

$34.13

1.89 (5.86%)

, AVGO

Broadcom

$170.71

2.16 (1.28%)

17:49
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On The Fly: After Hours Movers »

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FNSR

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AVGO

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GLPG

Galapagos NV

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XTLY

Xactly

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RH

Restoration Hardware

$38.99

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DLTH

Duluth Holdings

$37.04

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NCS

NCI Building

$17.85

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FRED

Fred's

$10.84

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USAC

USA Compression

$18.01

-0.14 (-0.77%)

FRO

Frontline

$7.71

0.37 (5.04%)

WSM

Williams-Sonoma

$56.90

0.61 (1.08%)

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