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WCG

WellCare

$137.79

-0.02 (-0.01%)

, THC

Tenet

$14.88

0.09 (0.61%)

07:31
12/22/16
12/22
07:31
12/22/16
07:31

WellCare to acquire Medicaid assets of Tenet Healthcare unit PHP in Arizona

WellCare Health Plans (WCG) said that it signed a definitive agreement to acquire certain assets, including Medicaid membership and certain provider contracts, from Phoenix Health Plan, a wholly owned managed care subsidiary of Tenet Healthcare (THC). PHP provides health benefits primarily to more than 50,000 Medicaid beneficiaries as of Dec. 1, 2016 in Maricopa County, Arizona, the state's largest geographic service area. WellCare will work with PHP and Arizona Health Care Cost Containment System to ensure a smooth transition for members. The transaction is expected to close by the second quarter of 2017, pending regulatory approvals, and other customary closing conditions. The financial terms of the transaction are not being disclosed. The transaction is expected to be funded with available cash on hand.

WCG

WellCare

$137.79

-0.02 (-0.01%)

THC

Tenet

$14.88

0.09 (0.61%)

WCG WellCare
$137.79

-0.02 (-0.01%)

11/11/16
11/11/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Equal Weight from Underweight at Barclays with analyst Kannan Venkateshwar saying ESPN is "de-risked" going into 2017 after management quantified the impact of the new NBA contract. 2. Aetna (AET) and Humana (HUM) were upgraded to Outperform from Neutral at Credit Suisse, while the firm upgraded WellCare (WCG) to Neutral from Underperform. 3. Anadarko (APC) and EOG Resources (EOG) were upgraded to Buy from Neutral at Guggenheim. 4. Tiffany (TIF) upgraded to Outperform from Market Perform at Cowen with analyst Oliver Chen saying he believes the luxury market is coming back and Tiffany is well positioned and a trusted brand. 5. Vornado (VNO) upgraded to Buy from Neutral at BofA/Merrill with analyst James Feldman saying he believes the decision to spin DC and partner with JBG will allow management to focus on the New York City platform and notes the Penn Plaza corridor is rapidly improving. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/02/16
BOFA
12/02/16
NO CHANGE
BOFA
Managed care companies still 'cheap,' says BofA/Merrill
BofA/Merrill analyst Kevin Fischbeck,says that "diversified" managed care companies should benefit from the policies of the Trump Administration. The companies' Medicare Advantage business should be boosted by the administration's policies, while they should benefit from higher interest rates and "increasingly likely" tax reform ,according to the analyst. He identifies Anthem (ANTM) as his top pick in the sector, citing its low valuation versus its historical trends. Fischbeck says that Molina Healthcare (MOH) and Cigna (CI) will benefit the most from interest rate hikes, while Moilna, WellCare (WCG) and Humana will benefit the most from tax cuts.
12/13/16
GSCO
12/13/16
DOWNGRADE
Target $140
GSCO
Neutral
WellCare downgraded to Neutral from Buy at Goldman
Goldman analyst Matthew Borsch downgraded WellCare saying shares are fully valued and maintained its $140 price target.
12/21/16
LEER
12/21/16
NO CHANGE
Target $160
LEER
Outperform
Leerink remains positive on WellCare following guidance
Leerink analyst Ana Gupte remains positive on WellCare post FY17 guidance announcement, saying the company's management has a history of conservative guidance and a "Beat and Raise" posture during its tenure, and she expects upside to the initial outlook. The analyst reiterates an Outperform rating and $160 price target on the shares.
THC Tenet
$14.88

0.09 (0.61%)

11/09/16
BOFA
11/09/16
DOWNGRADE
Target $25
BOFA
Tenet downgraded to Neutral following Trump victory at BofA/Merrill
As previously reported, BofA/Merrill Tenet to Neutral from Buy and lowered its price target to $25 from $32. Analyst Kevin Fischbeck said the Trump victory and Republican sweep of Congress is a negative for the entire Healthcare Facilities sector as Republicans want to repeal the Affordable Care Act and cut spending. The analyst said the trend is towards less coverage, which will impact volumes and increase bad debt in general. For Tenet in particular, Fischbeck expects Acute care growth to slow and return back to the long-term average.
11/10/16
RAJA
11/10/16
DOWNGRADE
RAJA
Market Perform
Tenet downgraded to Market Perform from Outperform at Raymond James
11/10/16
11/10/16
DOWNGRADE

Market Perform
Tenet downgraded to Market Perform at Raymond James
As previously reported, Raymond James downgraded Tenet to Market Perform from Outperform. The firm's analyst said Tenet's valuation appears to be pricing in a "repeal" of ACA while forgetting the "replace" aspect and notes there is not sufficient detail on what Trump's policy proposals on healthcare will look like yet.
11/22/16
MZHO
11/22/16
DOWNGRADE
MZHO
Underperform
Tenet downgraded to Underperform from Neutral at Mizuho
Mizuho downgraded Tenet to Underperform citing premium valuation and lack of visibility on what will happen to ACA, Medicaid, and Medicare.

TODAY'S FREE FLY STORIES

FL

Foot Locker

$47.70

-0.87 (-1.79%)

06:49
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Earnings
Foot Locker reports Q2 EPS ex-items 62c, consensus 90c »

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EL

Estee Lauder

$98.32

-2.75 (-2.72%)

06:48
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Earnings
Estee Lauder sees FY18 adjusted EPS $3.87-$3.94, consensus $3.79 »

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CPN

Calpine

$13.50

-0.42 (-3.02%)

06:48
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Calpine: Transaction the result of 'exhaustive' review of strategic alternatives »

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CPN

Calpine

$13.50

-0.42 (-3.02%)

06:47
08/18/17
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06:47
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06:47
Hot Stocks
Calpine to be acquired by ECP, consortium for $15.25 per share, or $5.6B »

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06:47
08/18/17
08/18
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06:47
General news
Futures stable following yesterday's selloff »

US equity futures are…

EL

Estee Lauder

$98.32

-2.75 (-2.72%)

06:46
08/18/17
08/18
06:46
08/18/17
06:46
Earnings
Estee Lauder sees FY18 revenue growth 7%-8%, consensus $12.6B »

CEO Freda continued,…

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  • 18

    Aug

CPN

Calpine

$13.50

-0.42 (-3.02%)

06:45
08/18/17
08/18
06:45
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06:45
Hot Stocks
Breaking Hot Stocks news story on Calpine »

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EL

Estee Lauder

$98.32

-2.75 (-2.72%)

06:45
08/18/17
08/18
06:45
08/18/17
06:45
Earnings
Estee Lauder reports Q4 adjusted EPS 51c, consensus 43c »

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  • 18

    Aug

06:45
08/18/17
08/18
06:45
08/18/17
06:45
General news
FX Action: The dollar has lifted from lows »

FX Action: The dollar…

KO

Coca-Cola

$45.86

-0.34 (-0.74%)

, PEP

PepsiCo

$118.39

-0.71 (-0.60%)

06:44
08/18/17
08/18
06:44
08/18/17
06:44
Periodicals
Coca-Cola to replace PepsiCo as Arby's beverage supplier, Bloomberg says »

Coca-Cola (KO) will…

KO

Coca-Cola

$45.86

-0.34 (-0.74%)

PEP

PepsiCo

$118.39

-0.71 (-0.60%)

03/08/13
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03/06/13
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  • 16

    Nov

URI

United Rentals

$111.82

-0.15 (-0.13%)

06:42
08/18/17
08/18
06:42
08/18/17
06:42
Upgrade
United Rentals rating change  »

United Rentals upgraded…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 22

    Aug

DE

Deere

$123.98

-2.65 (-2.09%)

06:40
08/18/17
08/18
06:40
08/18/17
06:40
Earnings
Deere raises FY17 net sales and revenue guidance to up 11% from up 9% »

Company equipment sales…

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  • 18

    Aug

  • 22

    Nov

PNM

PNM Resources

$41.70

-0.3 (-0.71%)

06:39
08/18/17
08/18
06:39
08/18/17
06:39
Downgrade
PNM Resources rating change  »

PNM Resources downgraded…

03/08/13
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03/08/13
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03/06/13
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CVX

Chevron

$105.92

-0.92 (-0.86%)

06:38
08/18/17
08/18
06:38
08/18/17
06:38
Periodicals
Chevron withdraws appeal of Australian tax bill, Reuters says »

Chevron has decided to…

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  • 13

    Sep

LB

L Brands

$37.55

-1.4 (-3.59%)

06:38
08/18/17
08/18
06:38
08/18/17
06:38
Recommendations
L Brands analyst commentary  »

L Brands dividend yield…

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DE

Deere

$123.98

-2.65 (-2.09%)

06:36
08/18/17
08/18
06:36
08/18/17
06:36
Earnings
Breaking Earnings news story on Deere »

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  • 18

    Aug

  • 22

    Nov

HSY

Hershey

$107.85

1.81 (1.71%)

06:35
08/18/17
08/18
06:35
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06:35
Recommendations
Hershey analyst commentary  »

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HIBB

Hibbett Sports

$11.50

-0.3 (-2.54%)

06:34
08/18/17
08/18
06:34
08/18/17
06:34
Hot Stocks
Hibbett Sports sees 'continued soft sales' for remainder of FY18 »

The company is updating…

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  • 18

    Aug

RAVN

Raven

$33.45

-0.975 (-2.83%)

06:34
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06:34
Initiation
Raven initiated  »

Raven initiated with a…

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  • 24

    Aug

PACW

PacWest Bancorp

$44.13

-1.63 (-3.56%)

06:34
08/18/17
08/18
06:34
08/18/17
06:34
Initiation
PacWest Bancorp initiated  »

PacWest Bancorp initiated…

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CATY

Cathay General

$34.97

-0.94 (-2.62%)

06:34
08/18/17
08/18
06:34
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06:34
Initiation
Cathay General initiated  »

Cathay General initiated…

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HIBB

Hibbett Sports

$11.50

-0.3 (-2.54%)

06:33
08/18/17
08/18
06:33
08/18/17
06:33
Hot Stocks
Hibbett Sports CEO says 'experienced a very difficult retail environment' in Q2 »

Jeff Rosenthal, President…

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  • 18

    Aug

DE

Deere

$123.98

-2.65 (-2.09%)

06:33
08/18/17
08/18
06:33
08/18/17
06:33
Earnings
Deere reports Q3 EPS $1.97, consensus $1.95 »

Reports Q3 net sales and…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 18

    Aug

  • 22

    Nov

HIBB

Hibbett Sports

$11.50

-0.3 (-2.54%)

06:32
08/18/17
08/18
06:32
08/18/17
06:32
Earnings
Hibbett Sports cuts FY18 EPS view to $1.25-$1.35 from $2.35-$2.55 »

FY18 consensus $1.74.…

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  • 18

    Aug

PM

Philip Morris

$115.93

-1.8 (-1.53%)

06:32
08/18/17
08/18
06:32
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06:32
Periodicals
India threatens Philip Morris with 'punitive action', Reuters reports »

India's federal…

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