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DGX

Quest Diagnostics

$87.94

-8.95 (-9.24%)

, LH

LabCorp

$161.78

-3.22 (-1.95%)

06:48
11/30/18
11/30
06:48
11/30/18
06:48

Quest Diagnostics downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Patrick Donnelly downgraded Quest Diagnostics (DGX) to Neutral and lowered his price target for the shares to $90 from $110. The analyst also downgraded his coverage view of Labs from Attractive to Neutral and removed LabCorp (LH) from his firm's Americans Conviction List. Donnelly's "incrementally more cautious stance" reflects his expectation for continued downward pressure to consensus estimates from ongoing pricing pressure, a "muted" volume outlook, and uncertainty regarding ongoing commercial payer dynamics. He sees an "uneven path to long-term organic volume growth" for Quest.

DGX

Quest Diagnostics

$87.94

-8.95 (-9.24%)

LH

LabCorp

$161.78

-3.22 (-1.95%)

  • 03

    Dec

  • 04

    Dec

DGX Quest Diagnostics
$87.94

-8.95 (-9.24%)

11/29/18
PIPR
11/29/18
NO CHANGE
PIPR
Quest Diagnostics headwinds are short-term in nature, says Piper Jaffray
Piper Jaffray analyst William Quirk says the headwinds that drove Quest Diagnostics' reduced fiscal 2018 guidance are mostly weather related and short-term in nature. The updated guidance reflects volume softness due to Hurricane Michael, California Wildfires and the recent East Coast weather, Quirk tells investors in a research note. As such, the analyst believes the outlook reduction is "largely a one-time event." He keeps a Neutral rating on the shares with a $110 price target.
11/28/18
PIPR
11/28/18
NO CHANGE
PIPR
Piper sees 'incremental winners' in final Clinical Laboratory Fee Schedule
CareDx (CDNA), Genomic Health (GHDX), LabCorp (LH), Myriad Genetics (MYGN), Natera (NTRA) and Quest Diagnostics (DGX) are the "incremental winners" in the 2019 Final Clinical Laboratory Fee Schedule determinations announced by the Centers for Medicare and Medicaid Services, Piper Jaffray analyst William Quirk tells investors in a research note. Specifically, CMS priced the advanced carrier screening panel at $2,449 versus the code stack method yesterday, Quirk writes. He points out that Genomic Health gets a bump for a couple tests and CareDx competitor TAI Diagnostics ends up with a likely longer pathway to reimbursement.
10/30/18
ARGS
10/30/18
DOWNGRADE
ARGS
Hold
LabCorp downgraded to Hold from Buy at Argus
Argus analyst Jasper Hellweg downgraded LabCorp (LH) to Hold from Buy after its Q3 earnings miss and a cut in FY18 guidance. The analyst notes that the company is faced with pressure from "lower lab testing payment rates mandated by the Protecting Access to Medicaid Act of 2014" along with business disruptions and the impact of acquisitions which resulted in lowers margins for the quarter. Hellweg further cites LabCorp's loss of "status as the exclusive national provider of laboratory services to UnitedHealthcare (UNH)" to rival Quest Diagnostics (DGX). In spite of these short-term challenges, the analyst also maintains a positive outlook for LabCorp on a long-term basis, adding that he would "consider an upgrade if the stock stabilized at the support level of $147 per share."
10/24/18
FBCO
10/24/18
NO CHANGE
Target $121
FBCO
Outperform
Quest Diagnostics price target lowered to $121 from $128 at Credit Suisse
Credit Suisse analyst A.J. Rice lowered his price target for Quest Diagnostics to $121 from $128 following quarterly results. The analyst reiterates an Outperform rating saying long-term tailwinds still in play, despite a short-term "speed bump."
LH LabCorp
$161.78

-3.22 (-1.95%)

11/30/18
GSCO
11/30/18
DOWNGRADE
Target $180
GSCO
Buy
LabCorp downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman Sachs analyst Patrick Donnelly removed LabCorp from his firm's Americas Conviction List and lowered his price target for the shares to $180 from $190. He keeps a Buy rating on the stock. The analyst also downgraded his coverage view of Labs from Attractive to Neutral. His "incrementally more cautious stance" reflects his expectation for continued downward pressure to consensus estimates from ongoing pricing pressure, a "muted" volume outlook, and uncertainty regarding ongoing commercial payer dynamics. However, he believes LabCorp is "uniquely positioned to offset Lab industry headwinds."
10/30/18
10/30/18
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. LabCorp (LH) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg saying the company is faced with pressure from "lower lab testing payment rates mandated by the Protecting Access to Medicaid Act of 2014" along with business disruptions and the impact of acquisitions which resulted in lowers margins for the quarter. 2. E-Trade (ETFC) downgraded to Outperform from Strong Buy at Raymond James with analyst Patrick O'Shaughnessy saying the recent board decision not to sell the business and remain a standalone company takes a sales scenario off the table. The analyst remains positive on shares ans believes there is plenty of upside as management executes on its operating plan. 3. Southwest (LUV) downgraded to Underweight from Neutral at JPMorgan while United Continental (UAL) and Spirit Airlines (SAVE) downgraded to Neutral from Overweight. 4. Flex (FLEX) downgraded to Hold from Buy at Argus with analyst Jim Kelleher citing the expected impact from the "shutdown of Mexican operations with key customer Nike (NKE), which he expects to be fully unwound," as well as the retirement of the company CEO Mike McNamara who had presided over the company's business expansion. 5. Elevate Credit (ELVT) downgraded to Market Perform from Outperform at JMP Securities and William Blair. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

AMAT

Applied Materials

$56.89

-0.24 (-0.42%)

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MAT

Mattel

$12.32

0.35 (2.92%)

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MITK

Mitek Systems

$7.70

-0.34 (-4.23%)

, WFC

Wells Fargo

$53.50

0.23 (0.43%)

05:29
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Downgrade
Mitek Systems, Wells Fargo rating change  »

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WFC

Wells Fargo

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  • 14

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FCX

Freeport McMoRan

$10.81

-0.02 (-0.18%)

, SCCO

Southern Copper

$37.10

-0.27 (-0.72%)

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SCCO

Southern Copper

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WAB

Wabtec

$78.54

0.35 (0.45%)

05:24
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Initiation
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CNP

CenterPoint Energy

$26.68

-1.42 (-5.05%)

05:21
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05:21
Downgrade
CenterPoint Energy rating change  »

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GPRK

GeoPark

$18.92

-0.02 (-0.11%)

05:20
11/15/19
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05:20
Hot Stocks
GeoPark announces all-cash acquisition of Amerisur Resources »

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MITK

Mitek Systems

$7.70

-0.34 (-4.23%)

05:18
11/15/19
11/15
05:18
11/15/19
05:18
Downgrade
Mitek Systems rating change  »

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ATLKY

Atlas Copco

$0.00

(0.00%)

05:18
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11/15
05:18
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05:18
Downgrade
Atlas Copco rating change  »

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SALRF

Salmar

$0.00

(0.00%)

05:16
11/15/19
11/15
05:16
11/15/19
05:16
Upgrade
Salmar rating change  »

Salmar upgraded to Hold…

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CNP

CenterPoint Energy

$26.68

-1.42 (-5.05%)

05:14
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Downgrade
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DDAIF

Daimler AG

$0.00

(0.00%)

05:13
11/15/19
11/15
05:13
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05:13
Downgrade
Daimler AG rating change  »

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SWAV

ShockWave Medical

$36.47

1.38 (3.93%)

05:11
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11/15
05:11
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Syndicate
ShockWave Medical 2.482M share Secondary priced at $36.25 »

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  • 15

    Nov

05:10
11/15/19
11/15
05:10
11/15/19
05:10
General news
FX Action: The yen is trading softer »

FX Action: The yen is…

BGNE

BeiGene

$195.90

-1.25 (-0.63%)

05:09
11/15/19
11/15
05:09
11/15/19
05:09
Recommendations
BeiGene analyst commentary  »

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  • 07

    Dec

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    Feb

NXTC

NextCure

$38.60

0.85 (2.25%)

05:09
11/15/19
11/15
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05:09
Syndicate
NextCure 4.08M share Secondary priced at $36.75 »

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  • 15

    Nov

AAPL

Apple

$262.66

-1.86 (-0.70%)

05:05
11/15/19
11/15
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05:05
Recommendations
Apple price target raised to $290 from $270 at Piper Jaffray »

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QCOM

Qualcomm

$90.48

0.03 (0.03%)

, AAPL

Apple

$262.66

-1.86 (-0.70%)

04:59
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11/15
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Upgrade
Qualcomm upgraded to Buy from Neutral at Mizuho »

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QCOM

Qualcomm

$90.48

0.03 (0.03%)

AAPL

Apple

$262.66

-1.86 (-0.70%)

SSNLF

Samsung

$0.00

(0.00%)

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  • 19

    Nov

NUE

Nucor

$54.49

-0.2 (-0.37%)

04:55
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Conference/Events
Nucor management to meet with KeyBanc »

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  • 15

    Nov

INS

Intelligent Systems

$42.26

-0.34 (-0.80%)

04:55
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Conference/Events
Intelligent Systems management to meet with Sidoti »

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  • 15

    Nov

EXPI

eXp World Holdings

$9.97

-0.08 (-0.80%)

04:55
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Conference/Events
eXp World Holdings management to meet with DA Davidson »

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  • 15

    Nov

GSHD

Goosehead Insurance

$44.75

0.02 (0.04%)

04:55
11/15/19
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04:55
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Conference/Events
Goosehead Insurance management to meet with William Blair »

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  • 15

    Nov

  • 03

    Dec

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