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LH

LabCorp

$147.00

-14.78 (-9.14%)

, DGX

Quest Diagnostics

$85.88

-2.06 (-2.34%)

09:51
11/30/18
11/30
09:51
11/30/18
09:51

LabCorp selloff brings long-term buying opportunity, says Piper Jaffray

LabCorp (LH) this morning followed Quest Diagnostics' (DGX) lead and lowered its guidance due to lower volumes in the Diagnostics business, Piper Jaffray analyst William Quirk tells investors in a research note. The analyst, however, believes the volume softness is "largely short-term" when excluding UnitedHealth (UNH) and provides a long-term buying opportunity. He keeps an Overweight rating on LabCorp but lowered his price target for the shares to $177 from $180 to "reflect this setback."

LH

LabCorp

$147.00

-14.78 (-9.14%)

DGX

Quest Diagnostics

$85.88

-2.06 (-2.34%)

UNH

UnitedHealth

$282.81

1.25 (0.44%)

  • 03

    Dec

  • 04

    Dec

LH LabCorp
$147.00

-14.78 (-9.14%)

11/30/18
GSCO
11/30/18
DOWNGRADE
Target $90
GSCO
Neutral
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.
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.
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.
DGX Quest Diagnostics
$85.88

-2.06 (-2.34%)

11/30/18
LEHM
11/30/18
NO CHANGE
Target $117
LEHM
Overweight
Quest Diagnostics price target lowered to $117 from $125 at Barclays
Barclays analyst Jack Meehan lowered his price target for Quest Diagnostics to $117 saying the company's analyst day was "clearly overshadowed" by its lower 2018 forecast. This has been a challenging year for Quest and the new issues are a "negative surprise," Meehan tells investors in a research note. However, he sees merit to sticking with his Overweight thesis for the near-term given a "major 2019 catalyst as national payor networks open access."
11/30/18
FBCO
11/30/18
NO CHANGE
Target $103
FBCO
Outperform
Quest Diagnostics price target lowered to $103 from $121 at Credit Suisse
Credit Suisse analyst A.J. Rice maintained an Outperform on Quest Diagnostics but lowered his price target to $103 from $121 following the company's analyst day event. While Rice believes the company still has opportunities ahead, its long-term growth expectations were moderated due to the full impact of PAMA-related Medicare payment cuts.
11/30/18
CHLM
11/30/18
NO CHANGE
Target $94
CHLM
Hold
Quest Diagnostics price target cut to $94 from $104 at Craig-Hallum
Craig-Hallum analyst Kevin Ellich maintained a Hold rating on Quest Diagnostics but lowered his price target to $94 following the company's analyst day, telling investors in a research note that some lingering questions about the company's lowered 2018 outlook overshadows the company's stable long-term outlook. Ellich thinks Quest will increase M&A activity with more hospital outreach deals, as well as advanced diagnostics and enhancements to its testing capabilities in oncology, women's health, and neurology, which will help drive acquisition growth contribution of greater than2% over the next several years.
UNH UnitedHealth
$282.81

1.25 (0.44%)

11/28/18
RAJA
11/28/18
UPGRADE
Target $70
RAJA
Outperform
DaVita upgraded to Outperform at Raymond James on valuation
As reported earlier, Raymond James analyst John Ransom upgraded DaVita (DVA) to Outperform from Market Perform with a price target of $70. The analyst notes that the stock has fallen about 18% since the company reported a Q3 earnings miss and since the defeat of the California ballot initiative, creating an attractive entry point. Ransom also points to yesterday's constructive commentary from UnitedHealth (UNH) regarding their pending acquisition of DaVita Medical Group along with the 8-K filing by the latter stating that the bank covenant timetable for closing the deal has been extended by 6 months.
11/27/18
BMOC
11/27/18
NO CHANGE
Target $310
BMOC
Outperform
Talks with UnitedHealth CFO boosted confidence in its outlook, says BMO Capital
BMO Capital analyst Matt Borsch kept his Outperform rating and $310 price target on UnitedHealth (UNH) after hosting its CFO John Rex and Medicaid Division chief Heather Cianfrocco. The analyst says the discussion helped to "boost his confidence in a strong multi-year growth outlook" for the company thanks to its "improved performance in the Medicaid business, unmatched execution track record and clear competitive advantage over others". Borsch believes that the advantage of UnitedHealth over Aetna (AET) and Cigna (CI) is unlikely to be eroded in the near term, as those competitors devote their focus toward large merger integration.
11/28/18
PIPR
11/28/18
NO CHANGE
Target $312
PIPR
Overweight
UnitedHealth price target raised to $312 from $300 at Piper Jaffray
Piper Jaffray analyst Sarah James raised her price target for UnitedHealth to $312 and increased her estimates following the company's investor day. Management laid out a 10-year plan which includes a half trillion in revenue, lots more tech, and becoming the largest prescription delivery service that delivers within 1 hour of the script being written, James tells investors in a research note titled "The Future is UNH; Taking Up Numbers and Bullish on 10Y Outlook." She believes the 10-year growth trajectory by segment reads bullish and continues to recommend adding to positions at these levels. James keeps an Overweight rating on UnitedHealth.
11/28/18
OPCO
11/28/18
NO CHANGE
Target $300
OPCO
Outperform
UnitedHealth price target raised to $300 from $295 at Oppenheimer
Oppenheimer analyst Michael Wiederhorn raised his price target for UnitedHealth to $300 from $295 following quarterly results. The analyst believes the company remains an industry leader across its various business lines, and has both a diversified and insulated business model that boasts promising growth prospects. He reiterates an Outperform rating on the shares.

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Wright Medical

$29.39

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Cabot Oil & Gas

$17.86

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14:45
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Cabot Oil & Gas call volume above normal and directionally bullish »

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USO

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KMB

Kimberly-Clark

$131.12

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, ACN

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WPP

$64.60

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WPP

WPP

$64.60

-0.01 (-0.02%)

, ACN

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14:21
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WPP

WPP

$64.60

-0.01 (-0.02%)

ACN

Accenture

$190.05

0.44 (0.23%)

KMB

Kimberly-Clark

$131.12

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MS

Morgan Stanley

$49.30

0.15 (0.31%)

14:20
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Heavy bullish option flow in Morgan Stanley January term »

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  • 11

    Nov

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BABA

Alibaba

$186.42

-0.69 (-0.37%)

, AAPL

Apple

$261.99

1.79 (0.69%)

14:17
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Alibaba reports 11.11 gross merchandise volume grew 26% year-over-year to $38.4B »

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BABA

Alibaba

$186.42

-0.69 (-0.37%)

AAPL

Apple

$261.99

1.79 (0.69%)

EL

Estee Lauder

$186.46

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GPS

Gap

$17.01

0.32 (1.92%)

LRLCY

L'Oreal

$0.00

(0.00%)

LEVI

Levi Strauss

$17.07

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NSRGY

Nestle

$0.00

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NKE

Nike

$89.89

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VFC

VF Corp.

$86.52

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UA

Under Armour

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UAA

Under Armour

$17.53

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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PCG

PG&E

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AUPH

Aurinia Pharmaceuticals

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Aurinia Pharmaceuticals call volume above normal and directionally bullish »

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LPCN

Lipocine

$0.78

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FIT

Fitbit

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13:55
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Fitbit put volume heavy and directionally bearish »

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DB

Deutsche Bank

$7.61

-0.02 (-0.26%)

13:45
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Options
Deutsche Bank call volume above normal and directionally bullish »

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LPCN

Lipocine

$0.82

-1.9039 (-69.87%)

13:37
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BABA

Alibaba

$185.80

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S

Sprint

$5.89

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13:35
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  • 09

    Dec

GOOG

Alphabet

$1,299.39

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13:34
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GOOG

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GOOGL

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WMK

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CDE

Coeur Mining

$6.25

0.305 (5.13%)

13:25
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Coeur Mining call volume above normal and directionally bullish »

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WE

We Company

$0.00

(0.00%)

, JLL

Jones Lang LaSalle

$161.83

0.23 (0.14%)

13:21
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We Company (WE) is…

WE

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JLL

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MGM

MGM Resorts

$31.41

0.01 (0.03%)

, DSS

Document Security

$0.34

0.0059 (1.76%)

13:18
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On The Fly
Fly Insider: MGM, IDEXX Laboratories among week's notable insider trades »

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MGM

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DSS

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