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Fly News Breaks for February 20, 2020
TVTY
Feb 20, 2020 | 05:47 EDT
Piper Sandler analyst Sean Wieland lowered the firm's price target on Tivity Health to $15 from $25 and keeps a Neutral rating on the shares. The CEO was fired and the President of the Nutrition business "resigned," Tivity missed Q4 numbers, and guided 2020 below consensus estimates, Wieland tells investors in a post-earnings research note titled "Crisis in Nashville." In Nutrition, buy one get one offers drove price erosion and will continue to be a headwind to revenue and profitability in 2020, says the analyst. He still sees no evidence of meaningful revenue synergies in either of the company's segments.
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