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Fly News Breaks for November 12, 2018
HLTH
Nov 12, 2018 | 06:49 EDT
Benchmark analyst Bill Sutherland downgraded Nobilis Health to Hold from Buy citing uncertainty surrounding the recently announced accounts receivables review. Friday after the close, Nobilis announced that it received a five-day extension for its quarterly filing in order to complete a review and evaluation of the net realizable value on its accounts receivable, Sutherland tells investors in a research note. While the impending write-off will have a first order impact on the shares, the longer run issue revolves around future levels of out-of-network revenue if, for instance, terms are tightened, says the analyst.
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