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MDT

Medtronic

$85.29

0.305 (0.36%)

, MCK

McKesson

$146.84

0.39 (0.27%)

20:25
05/23/18
05/23
20:25
05/23/18
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include Medtronic (MDT), consensus $1.39... McKesson (MCK), consensus $3.56... Best Buy (BBY), consensus 74c... Hormel Foods (HRL), consensus 45c... Toro Company (TTC), consensus $1.21... Sanderson Farms (SAFM), consensus $2.20.

MDT

Medtronic

$85.29

0.305 (0.36%)

MCK

McKesson

$146.84

0.39 (0.27%)

BBY

Best Buy

$75.73

0.255 (0.34%)

HRL

Hormel Foods

$35.82

-0.01 (-0.03%)

TTC

Toro Company

$60.32

-0.08 (-0.13%)

SAFM

Sanderson Farms

$107.13

1.19 (1.12%)

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MDT Medtronic
$85.29

0.305 (0.36%)

05/21/18
RHCO
05/21/18
NO CHANGE
Target $96
RHCO
Buy
Medtronic price target raised to $96 from $92 at SunTrust
SunTrust analyst Bruce Nudell raised his price target on Medtronic to $96, adjusting his model for the divestment of the company's patient monitoring and recovery business. The analyst also keeps his Buy rating ahead of this week's earnings, forecasting organic mid-single-digit sales growth, modest margin expansion, and share buybacks driving high-single digit growth in earnings.
04/27/18
PIPR
04/27/18
INITIATION
Target $90
PIPR
Overweight
Medtronic assumed with an Overweight at Piper Jaffray
Piper Jaffray analyst Matt O'Brien assumed coverage of Medtronic with an Overweight rating and $90 price target. While slower end markets and share erosion in certain areas are risks to monitor, the stock does not reflect the company's upcoming product cycle, which is "quite strong," O'Brien tells investors in a research note. Further, he sees "considerable margin expansion" in front of the company. The analyst encourages investors to start or build positions in Medtronic.
04/17/18
PIPR
04/17/18
NO CHANGE
PIPR
J&J commentary positive for pure-play spine names, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien is out discussing derivative calls following Johnson & Johnson's (JNJ) Q1 results. The orthopedic market looked relatively stable, though Hips were notably softer than expected, O'Brien tells investors in a research note. He believes Stryker (SYK) is "clearly taking market share," which he views as an incremental negative for Zimmer Biomet (ZBH). On Spine, some U.S. weakness was expected, but J&J's results could be viewed as concerning given continued weakness since Q3 of 2017, the analyst adds. He thinks the end markets "are ok" and the commentary on J&J losing share benefits pure-play spine names NuVasive (NUVA), Globus Medical (GMED), SeaSpine (SPNE) and K2M Group (KTWO). He believes the pure-plays continue to out-innovate and take share despite the weakness in the overall category. Johnson & Johnson's results also show that the U.S. lens market remains strong and is shifting to 1-Days lenses from weeklies/monthlies, which is a positive for Cooper Companies (COO), O'Brien contends. Lastly, the analyst says the decline in J&J's U.S. diabetes franchise from the Animas exit was faster than expected. This is good for the pump names Insulet (PODD) and Tandem Diabetes (TNDM) and a slight negative for Dexcom (DXCM) as some of those will end up at Medtronic (MDT), O'Brien argues. He continues to believe that both Insulet and Tandem "will gain more than their fair share" of Animas patients.
04/16/18
JPMS
04/16/18
NO CHANGE
JPMS
Overweight
Intuitive Surgical momentum shows no signs of slowing, JPMorgan
After attending the Society of American Gastrointestinal and Endoscopic Surgeons annual meeting, JPMorgan analyst Tycho Peterson believes Intuitive Surgical's (ISRG) momentum is showing no signs of slowing. However, the stock may take a breather after rallying 14% year-to-date given the Medtronic (MDT) overhang into the June analyst day, Peterson tells investors in a research note. Nevertheless, he continues to like the longer-term set-up and reiterates an Overweight rating on the shares. The analyst says momentum remains strong in robotic general surgery. Further, there was little new on the competitive front at the meeting, as Medtronic and Johnson & Johnson (JNJ) deferred commentary on robotic systems ahead oftheir upcoming analyst days, Peterson points out.
MCK McKesson
$146.84

0.39 (0.27%)

04/17/18
MZHO
04/17/18
NO CHANGE
MZHO
Amazon news removes 'unprecedented overhang' on drug sellers, says Mizuho
After CNBC reported yesterday afternoon that Amazon (AMZN) has decided to shelve its plan to sell and distribute pharmaceutical products, Mizuho analyst Ann Hynes said she had thought Amazon's current logistics and distribution model would not translate into healthcare. However, based on conversations with investors, she believes the magnitude of the overhang that Amazon presented for drug distributors and retail pharmacies was "unprecedented." While drug pricing is still a concern, she notes that the CNBC report removes one overhang on the drug supply chain stocks. Hynes remain a buyer of CVS Health (CVS) and Walgreens (WBA) and keeps Neutral ratings on Rite Aid (RAD) as well as on drug distributors AmerisourceBergen (ABC), Cardinal Health (CAH) and McKesson (MCK).
02/27/18
BOFA
02/27/18
INITIATION
Target $179
BOFA
Buy
McKesson reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Michael Cherny reinstated coverage on McKesson with a Buy and $179 price target.
03/08/18
LEHM
03/08/18
INITIATION
Target $165
LEHM
Equal Weight
McKesson initiated with an Equal Weight at Barclays
Barclays analyst Steve Valiquette started McKesson with an Equal Weight rating and $165 price target. The analyst initiated 14 companies in Health Care Services with a Neutral industry view.
02/27/18
BOFA
02/27/18
INITIATION
Target $179
BOFA
McKesson reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Michael Cherny reinstated coverage on McKesson with a Buy and $179 price target.
BBY Best Buy
$75.73

0.255 (0.34%)

05/21/18
JEFF
05/21/18
NO CHANGE
Target $79
JEFF
Hold
Best Buy Q1 comp estimate raised to 6% from 3.5% at Jefferies
To reflect channel checks and "strong" industry data, Jefferies analyst Daniel Binder raised his Q1 comp sales estimate for Best Buy to 6.0% from 3.5%. "Strong" underlying trends against easy comparisons allowed Best Buy to overcome the headwinds of lapping tough gaming comps, Binder tells investors in a research note. Further, he believes that government data suggest his estimates could prove conservative. The analyst expects a good Q1 from Best Buy and upped his price target for the shares to $79 from $74. Binder keeps a Hold rating on the stock.
04/17/18
PIPR
04/17/18
NO CHANGE
Target $89
PIPR
Overweight
Supreme Court case could be 'sneaky positive' for Best Buy, says Piper Jaffray
The pending Supreme Court case, South Dakota versus Wayfair (W), could be a "sneaky positive" for Best Buy (BBY) should the Supreme Court rule in favor of South Dakota, Piper Jaffray analyst Peter Keith tells investors in a research note. A rule in favor of South Dakota, which the analyst expects, would allow states to start collecting sales tax on e-commerce purchases. Sales tax has become less of a factor for purchasing decisions, but it still matters for big-ticket, branded items, Keith contends. He reiterates an Overweight rating on Best Buy with an $89 price target.
04/23/18
WELS
04/23/18
INITIATION
Target $77
WELS
Market Perform
Best Buy initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Zachary Fadem started Best Buy with a Market Perform rating and $77 price target.
04/03/18
MSCO
04/03/18
NO CHANGE
Target $115
MSCO
Overweight
If history holds, Lowe's could outperform after CEO change, says Morgan Stanley
Following the announcement of a CEO transition at Lowe's (LOW), Morgan Stanley analyst Simeon Gutman looked at recent management changes at two large-cap Hardline retailers - Best Buy (BBY) and Advance Auto Parts (AAP) - as case studies searching for signs of what to expect at the home improvement retailer. While acknowledging that each situation is unique, Gutman also pointed out what he sees as "a few interesting similarities." The analyst noted that Best Buy had a tough first three months following the installment of Hubert Joly, but then the stock increased 200% in the following nine months, leaving the stock up 100% in the first 12 months of Joly's tenure. Advance Auto also initially dipped in the month following the onboarding of CEO Tom Greco, but then it rose 21% in the next seven months, noted Gutman. The analyst, who also noted that Lowe's multiple on 2019 EPS estimates is among the lowest compared to nearly all large cap retailers, keeps his Overweight rating on the shares.
HRL Hormel Foods
$35.82

-0.01 (-0.03%)

01/04/18
PIPR
01/04/18
INITIATION
Target $42
PIPR
Overweight
Hormel Foods assumed with an Overweight at Piper Jaffray
Piper Jaffray analyst Brett Wong assumed coverage of Hormel Foods with an Overweight rating and $42 price target. The analyst expects continued strong top-line growth, both organic and from acquisitions, and considers the company's portfolio attractive.
02/14/18
JEFF
02/14/18
UPGRADE
Target $38
JEFF
Buy
Hormel Foods upgraded to Buy from Hold at Jefferies
Jefferies analyst Akshay Jagdale upgraded Hormel Foods (HRL) to Buy with an increased price target of $38. The analyst believes the company has a "solid platform for accretive acquisitions." He also has an improved outlook for pork packer margins.
03/23/18
SPHN
03/23/18
NO CHANGE
SPHN
Stephens says to buy Hormel Foods, Tyson Foods on China trade headlines
Stephens analyst Farha Aslam recommends buying Hormel Foods (HRL) and Tyson Foods (TSN) on headlines of a Chinese 25% tariff on US pork. Aslam said China imports only about 2-3% of U.S. pork production, which is insignificant and can be absorbed by other markets.
01/04/18
PIPR
01/04/18
INITIATION
Target $42
PIPR
Overweight
Hormel Foods assumed with an Overweight at Piper Jaffray
Piper Jaffray assumed coverage of Hormel Foods with an Overweight rating and $42 price target.
TTC Toro Company
$60.32

-0.08 (-0.13%)

08/25/17
GHSC
08/25/17
DOWNGRADE
Target $67
GHSC
Neutral
Toro Company downgraded to Neutral from Buy at Seaport Global
Seaport Global analyst Michael Shlisky downgraded Toro Company to Neutral and lowered its price target to $67 from $75 following the Q3 report saying most of the earnings beat came from a lower-than-expected tax rate and believes investors have come to expect more operating upside each quarter and the stock sold off as a result.
08/25/17
DOTC
08/25/17
DOWNGRADE
DOTC
Neutral
Toro Company downgraded to Neutral from Buy at Dougherty
05/14/18
CLVD
05/14/18
DOWNGRADE
CLVD
Neutral
Toro Company downgraded to Neutral from Buy at Cleveland Research
SAFM Sanderson Farms
$107.13

1.19 (1.12%)

02/21/18
BUCK
02/21/18
INITIATION
Target $122
BUCK
Neutral
Sanderson Farms initiated with a Neutral at Buckingham
Buckingham analyst Eric Larson initiated Sanderson Farms with a Neutral and $122 saying he is more cautious on 2019-20 fundamentals due to potential substantial industry capacity expansion and limited benefits from feed costs. Larson views valuation as fair near-term and sees risk/reward balance as skewed to the downside given earnings sensitivity to an unfavorable turn in the ag cycle.
02/21/18
02/21/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tyson Foods (TSN) initiated with a Neutral at Buckingham. 2. Sanderson Farms (SAFM) initiated with a Neutral at Buckingham. 3. CF Industries (CF) initiated with an Outperform at Bernstein. 4. Anthera (ANTH) initiated with a Buy at Roth Capital. 5. Corporate Capital Trust (CCT) initiated with an Outperform at Wells Fargo. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/23/18
JPMS
02/23/18
NO CHANGE
Target $110
JPMS
Underweight
Sanderson Farms price target lowered to $110 from $132 at JPMorgan
JPMorgan analyst Ken Goldman lowered his price target for Sanderson Farms to $110 following yesterday's earnings call and keeps an Underweight rating on the name. The analyst views the company's goal of fiscal 2018 EBIT margin over 12% as unrealistic. Goldman's not convinced that recent weather-driven supply dislocations fully explain weak breast prices. He notes that prices have been soft since last August. The analyst keeps an Underweight rating on Sanderson Farms.
02/28/18
VERF
02/28/18
UPGRADE
VERF
Buy
Sanderson Farms upgraded to Buy from Hold at Vertical Group

TODAY'S FREE FLY STORIES

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ATHN

Athenahealth

$133.86

-9.395 (-6.56%)

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Housing Market Index data reported »

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TLRY

Tilray

$135.75

15.55 (12.94%)

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Tilray options active with shares high as a kite »

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MDT

Medtronic

$96.09

0.09 (0.09%)

10:05
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Medtronic announces FDA approval for revised TAVR labeling, begins study »

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TLRY

Tilray

$132.62

12.42 (10.33%)

10:03
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Periodicals
Citron Research calls Tilray news 'promotional and misleading' »

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BBT

BB&T

$50.16

-0.08 (-0.16%)

10:01
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Earnings
BB&T announces $5M investment in Enigma »

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  • 18

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GIS

General Mills

$44.99

-2.78 (-5.82%)

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Technical Analysis
Technical Take: General Mills falls sharply after earnings »

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BBY

Best Buy

$77.25

0.22 (0.29%)

10:00
09/18/18
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Options
Notable short-term option spreads in Best Buy »

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ACBFF

Aurora Cannabis

$0.00

(0.00%)

09:58
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Hot Stocks
Aurora Cannabis trading in Canada halted, pending news »

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UNP

Union Pacific

$164.22

7.49 (4.78%)

09:58
09/18/18
09/18
09:58
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Conference/Events
Union Pacific to hold a conference call »

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  • 19

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UNP

Union Pacific

$164.03

7.3 (4.66%)

, FTI

TechnipFMC

$30.94

1.03 (3.44%)

09:55
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Options
Early notable gainers among liquid option names on September 18th »

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UNP

Union Pacific

$164.03

7.3 (4.66%)

FTI

TechnipFMC

$30.94

1.03 (3.44%)

UHS

Universal Health

$131.36

5.33 (4.23%)

RIG

Transocean

$11.97

0.375 (3.23%)

HES

Hess Corp.

$68.20

1.41 (2.11%)

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09:55
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General news
U.S. NAHB housing market index preview: »

U.S. NAHB housing market…

MBFI

MB Financial

$47.37

(0.00%)

, FITB

Fifth Third

$28.70

-0.01 (-0.03%)

09:50
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Hot Stocks
MB Financial receives shareholder approval for merger with Fifth Third »

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MBFI

MB Financial

$47.37

(0.00%)

FITB

Fifth Third

$28.70

-0.01 (-0.03%)

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UNP

Union Pacific

$163.89

7.16 (4.57%)

09:49
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Technical Analysis
Technical Take: Union Pacific moves to new high, analyst action »

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  • 06

    Nov

FATE

Fate Therapeutics

$11.06

(0.00%)

09:49
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Recommendations
Fate Therapeutics analyst commentary  »

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  • 01

    Oct

AZO

AutoZone

$717.00

-30.53 (-4.08%)

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  • 18

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BRC

Brady

$43.45

-1.9 (-4.19%)

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Brady falls -3.8% »

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WK

Workiva

$34.60

-3.2 (-8.47%)

09:47
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  • 19

    Sep

  • 20

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SMG

Scotts Miracle-Gro

$79.42

0.45 (0.57%)

09:47
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09/18
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Conference/Events
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  • 18

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UNP

Union Pacific

$164.33

7.6 (4.85%)

09:47
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Hot Stocks
Union Pacific rises 4.8% »

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  • 06

    Nov

CRC

California Resources

$38.68

1.91 (5.19%)

09:47
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Hot Stocks
California Resources rises 5.5% »

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  • 03

    Oct

THO

Thor Industries

$109.35

11.78 (12.07%)

09:47
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Hot Stocks
Thor Industries rises 12.3% »

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  • 18

    Sep

09:45
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General news
Housing Market Index to be reported at 10:00 »

September Housing Market…

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