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HCA

HCA Healthcare

$114.45

-12.67 (-9.97%)

, CYH

Community Health

$3.21

-0.18 (-5.31%)

08:47
04/17/19
04/17
08:47
04/17/19
08:47

Issues facing healthcare sector now 'modest' compared to 2008-10, says Stephens

Stephens analyst Scott Fidel noted that the managed care group has sharply underperformed the S&P 500 over the last month amid "political rhetoric" around point-of-sale drug rebates and Medicare for all policy proposals, though he believes the issues facing the sector right now "seem modest in comparison" to the "dark days of 2008-2010." While recent Medicare for all proposals have rattled investors, "they will face enormous uphill battles," Fidel tells investors. Hospital stocks have outperformed MCOs year-to-date, but the group declined about 9% yesterday and underperformed the MCO group, which Fidel attributes to acknowledgement by industry bellwether UnitedHealth (UNH) of the significant disruptive nature of Medicare for all, which may have sparked additional fears, as well as one less calendar day being called out by UnitedHealth as benefiting Q1 MLRs and Johnson & Johnson's (JNJ) earnings call commentary on declining sequential hospital admissions from Q4. Publicly traded companies in the hospital space include Community Health (CYH), HCA Healthcare (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS). Publicly traded companies in the managed care space include Anthem (ANTM), CVS Health (CVS), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).

HCA

HCA Healthcare

$114.45

-12.67 (-9.97%)

CYH

Community Health

$3.21

-0.18 (-5.31%)

THC

Tenet

$25.50

-3.31 (-11.49%)

UHS

Universal Health

$128.00

-4.74 (-3.57%)

LPNT

LifePoint

$0.00

(0.00%)

CVS

CVS Health

$54.00

-0.23 (-0.42%)

UNH

UnitedHealth

$221.70

-8.71 (-3.78%)

MOH

Molina Healthcare

$122.10

-9.835 (-7.45%)

CI

Cigna

$151.25

-12.58 (-7.68%)

ANTM

Anthem

$245.46

-17.61 (-6.69%)

HNT

Health Net

$0.00

(0.00%)

CNC

Centene

$50.15

-3.04 (-5.72%)

HUM

Humana

$236.68

-17.28 (-6.80%)

WCG

WellCare

$259.31

-10.42 (-3.86%)

JNJ

Johnson & Johnson

$138.00

1.47 (1.08%)

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HCA HCA Healthcare
$114.45

-12.67 (-9.97%)

01/30/19
LEER
01/30/19
NO CHANGE
Target $175
LEER
Outperform
HCA Healthcare price target raised to $175 from $160 at Leerink
Leerink analyst Ana Gupte raised her price target for HCA Healthcare to $175 from $160 as she has continued high conviction on it after a "solid" Q4 and 2019 guidance, increase in share repurchase authorization and dividend yield. The analyst reiterates an Outperform rating on the shares.
04/17/19
JEFF
04/17/19
NO CHANGE
Target $158
JEFF
Buy
HCA Healthcare oversold on Medicare-For-All 'noise,' says Jefferies
Jefferies analyst Brian Tanquilut says HCA Healthcare shares are now oversold amid the Medicare-For-All "noise." The analyst expects volatility in the stocks of healthcare providers before the November 2020 elections, but he believes the emergence of Medicare for All "as an early hot topic has brought volatility/noise prematurely." HCA is now oversold based on a valuation analysis that looks at previous election cycles, especially since Medicare-For-All does not pose existential risk to the hospitals, Tanquilut tells investors in a research note. As currently proposed, Medicare-For-All will most likely reduce the need for managed care companies, but the need for healthcare providers does not go away, as the government will need hospitals, physician practices, and other providers to remain viable to protect access to care, says the analyst. He keeps a Buy rating on HCA Healthcare with a $158 price target.
01/30/19
RHCO
01/30/19
NO CHANGE
Target $175
RHCO
Buy
HCA Healthcare price target raised to $175 from $165 at SunTrust
SunTrust analyst David MacDonald raised his price target on HCA Healthcare to $175 and kept his Buy rating after the company's "impressive" quarter marked by "solid" organic volumes, robust acuity and price, and "superb" cash flows". The analyst also points to HCA Healthcare's "sizable capex pipeline" that targets areas including IT improvements, expanded service offerings, and capacity expansion. MacDonald expects the company to continue to widen its competitive moat through its "robust cash flow and massive balance sheet".
01/30/19
OPCO
01/30/19
NO CHANGE
Target $150
OPCO
Outperform
HCA Healthcare price target raised to $150 from $142 at Oppenheimer
Oppenheimer analyst Michael Wiederhorn raised his price target for HCA Healthcare to $150 from $142 following quarterly results. The analyst reiterates an Outperform rating on the shares.
CYH Community Health
$3.21

-0.18 (-5.31%)

11/15/18
UBSW
11/15/18
INITIATION
Target $2
UBSW
Sell
Community Health initiated with a Sell at UBS
UBS analyst Whit Mayo initiated Community Health with a Sell rating and a price target of $2.
12/28/18
PIPR
12/28/18
NO CHANGE
PIPR
Piper says buy Centene, sell Community Health if recession were to occur
After performing a recession risk/reward for Hospitals and Managed Care Organizations, Piper Jaffray analyst Sarah James recommends buying Centene (CNC) and selling Community Health Systems (CYH) if a recession were to occur. The analyst says that with some economists calling for a recession in 2019, she dug into the potential impacts across the hospital and insurance sector. For hospitals, consumer surveys point to economic outlook impacting decisions to receive services, James tells investors in a research note. On the other hand, insurers are a "natural defensive sector in a recession," adds the analyst. As such, in a recession James would be adding exposure to insurers and lightening hospitals.
11/07/18
MSCO
11/07/18
NO CHANGE
MSCO
Split Congress 'best outcome' for MCOs and hospitals, says Morgan Stanley
Morgan Stanley analyst Zack Sopcak contends that the Democratic party retaking the majority in the House of Representatives and Republicans retaining the Senate is the "best outcome" for Managed Care Organizations and hospitals, stating that he now sees another attempt at a repeal/replace of the Affordable Care Act as "off the table." The split Congress could also lower the volume on the "Medicare for All" debate given a lack of mandate from either the Democratic or Republican party, Sopcak tells investors. The election results remove a key overhang for Centene (CNC) and Molina (MOH), which he views as most exposed to the ACA marketplace, and to a lesser extent the hospitals, Sopcak added. With ACA repeal/replace off the table, and given the longer term potential upside from Medicaid expansion in Utah and Idaho as expansion ballot initiatives appear to be passing in both states, Sopcak said Molina is emerging as his top pick in the space heading into the final weeks of 2018. Publicly traded hospital companies include Community Health (CYH), HCA Healthcare (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS).
11/15/18
UBSW
11/15/18
INITIATION
UBSW
HCA Healthcare, Encompass Health, Universal Health initiated with Buy at UBS
UBS analyst Whit Mayo launched coverage of Healthcare Facilities with a broader research note titled "Navigating an Evolving Landscape - Who Will Be Left?". The analyst is most bullish on stocks that "discount the perceived secular sector headwinds" such as Buy-rated HCA Healthcare (HCA), Encompass Health (EHC), and Universal Health (UHS), adding that investors also under-appreciate the accelerating free-cash flow profiles of these companies. Mayo differentiates HCA Healthcare based on its 0% correlation in national hospital utilization trends against public results. The analyst is also bullish on LHC Group (LHCG), stating that its same-property admission growth projections are higher than the rest. Mayo rates Community Health Systems (CYH), DaVita (DVA), and Mednax (MD) at a Sell with a bearish view of dialysis, births, and inpatient surgery end-markets. The analyst sees Community Health Systems same-property volume trend at a relatively low rate. Mayo also gives Acadia (ACHC), Amedisys (AMED), Surgery Partners (SGRY), and Tenet (THC) a Neutral rating as part of this research note based on their relative valuation as a factor of same-property volume growth.
THC Tenet
$25.50

-3.31 (-11.49%)

02/27/19
RAJA
02/27/19
NO CHANGE
Target $47
RAJA
Outperform
Tenet price target raised to $47 from $37 at Raymond James
01/14/19
SPHN
01/14/19
INITIATION
Target $23
SPHN
Equal Weight
Tenet initiated with an Equal Weight at Stephens
Stephens analyst Scott Fidel initiated coverage of 11 Managed Care and Healthcare Facilities stocks, telling investors that overall he is constructive on managed care and selective on hospitals. He started Tenet with an Equal Weight rating and $23 price target, stating that the market's increased volatility could further complicate its efforts to sell Conifer at an attractive valuation. The persistent underperformance of the hospital segment and ongoing divestiture program make it hard to forecast more than low-single digit annual revenue and EBITDA growth, said Fidel.
01/03/19
DBAB
01/03/19
INITIATION
Target $20
DBAB
Hold
Tenet initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Pito Chickering started Tenet Healthcare with a Hold rating and $20 price target. The analyst initiated coverage on Healthcare Facilities with a constructive view saying the sector is "relatively defensive" in slowing business cycles and that company cash flows "provide downside protection in volatile markets."
UHS Universal Health
$128.00

-4.74 (-3.57%)

03/04/19
JPMS
03/04/19
DOWNGRADE
Target $147
JPMS
Neutral
Universal Health downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Gary Taylor downgraded Universal Health Services to Neutral with an unchanged price target of $147.
03/05/19
BMOC
03/05/19
NO CHANGE
Target $146
BMOC
Market Perform
Universal Health price target raised to $146 from $130 at BMO Capital
BMO Capital analyst Matt Borsch raised his price target on Universal Health to $146, citing its above-consensus outlook for 2019 announced last week. The analyst states that while the company remains "reliant on continued acute-care strength", the forecast has given him a better "view of expectations now that management has backed away from promises of near-term improvement in the behavioral side, which should strengthen its credibility." Borsch is keeping his Market Perform rating on Universal Health however, noting that its current valuation of enterprise value to EBITDA at 9.1-times is "fair" and implies only modest stock price upside.
03/04/19
JPMS
03/04/19
DOWNGRADE
Target $147
JPMS
Neutral
Universal Health downgraded to Neutral on valuation at JPMorgan
JPMorgan analyst Gary Taylor downgraded Universal Health Services to Neutral from Overweight with an unchanged price target of $147. The analyst says that while he does not have a "new active negative thesis" on the shares, he finds the stock "relatively fairly valued with limited catalysts." Universal Health's valuation continues to reflect a stronger secular EBITDA growth outlook than the company has been able to deliver over the last three years or is implied in 2019 guidance, Taylor tells investors in a research note.
03/04/19
03/04/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Bed Bath & Beyond (BBBY) downgraded to Underweight from Equal Weight at Barclays with analyst Matthew McClintock saying he believes there is "limited, if any," visibility into a potential inflection point towards improving traffic trends. 2. Hawaiian Holdings (HA) downgraded to Sell from Hold at Deutsche Bank with analyst Michael Linenberg citing increased competition given Southwest Airlines' (LUV) plans for inter-island flying. 3. Enbridge (ENB) downgraded to In Line from Outperform at Evercore ISI and to Sector Perform from Outperform at Scotiabank and National Bank. 4. SunTrust (STI) downgraded to Neutral from Buy at UBS with analyst Saul Martinez saying his Buy thesis no longer holds due to the proposed merger with BB&T (BBT). 5. Universal Health (UHS) downgraded to Neutral from Overweight at JPMorgan with analyst Gary Taylor saying while he does not have a "new active negative thesis" on the shares, he finds the stock "relatively fairly valued with limited catalysts." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
LPNT LifePoint
$0.00

(0.00%)

07/24/18
BARD
07/24/18
DOWNGRADE
Target $65
BARD
Neutral
LifePoint downgraded to Neutral from Outperform at Baird
Baird analyst Matthew Gillmor downgraded LifePoint Health (LPNT) to Market Perform after the company agreed to be acquired by Apollo Global (APO) affiliates for $65 per share.
07/24/18
BMOC
07/24/18
NO CHANGE
Target $62
BMOC
Market Perform
LifePoint price target raised to $62 from $51 at BMO Capital
BMO Capital analyst Matt Borsch raised his price target on LifePoint (LPNT) to $62 and kept his Market Perform rating after the proposed transaction for the company to be taken private by the Apollo Global (APO) affiliate RCCH HealthCare Partners at $65 per share. The analyst says his price target reflects the acquisition price blended with some uncertainty regarding the deal, even as he views the terms of the offer as attractive to LifePoint shareholders against the"backdrop of reimbursement and volume pressures that challenge acute care hospitals".
07/24/18
FBCO
07/24/18
NO CHANGE
Target $65
FBCO
Neutral
LifePoint price target raised to $65 from $58 at Credit Suisse
Credit Suisse analyst A.J. Rice raised his price target for LifePoint (LPNT) to $65 from $58 to reflect deal price after the company agreed to be acquired by Apollo Global (APO) affiliates for $65 per share. The analyst reiterates a Neutral rating on LifePoint shares.
CVS CVS Health
$54.00

-0.23 (-0.42%)

04/15/19
04/15/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. CVS Health (CVS) downgraded to Perform from Outperform at Oppenheimer with analyst Michael Wiederhorn saying he views it as more of a long-term opportunity given the potential timeline to execute on its strategy and the near-term legacy business challenges. 2. Infosys (INFY) downgraded to Hold from Buy at Deutsche Bank and Investec, to Reduce from Neutral at Nomura Instinet, to Underperform from Neutral at Credit Suisse, to Equal Weight from Overweight at Morgan Stanley, and to Neutral from Buy at Citi and BofA/Merrill. 3. Celanese (CE) downgraded to Hold from Buy at Deutsche Bank with analyst David Begleiter saying the company's leadership transition creates uncertainty. 4. Alliance Data (ADS) downgraded to Underweight from Equal Weight at Stephens and to Market Perform from Outperform at BMO Capital. 5. Wells Fargo (WFC) downgraded to Neutral from Conviction Buy at Goldman Sachs, to In Line from Outperform at Evercore ISI, and to Neutral from Buy at BofA/Merrill and Buckingham. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/15/19
04/15/19
DOWNGRADE

Perform
CVS Health downgraded to Perform at Oppenheimer
As previously reported, Oppenheimer analyst Michael Wiederhorn downgraded CVS Health to Perform from Outperform saying that he is looking to reset the bar on his rating, as he views it as more of a long-term opportunity given the potential timeline to execute on its strategy and the near-term legacy business challenges. Furthermore, the analyst expects the drug-price noise out of Washington to continue for the foreseeable future. Lastly, Wiederhorn notes that he remains bullish on the overall managed care sector, but CVS's exposure to the business is still quite modest, and he would prefer other names in the space right now.
04/11/19
04/11/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Lyft (LYFT) initiated with a Hold at HSBC. 2. Apple (AAPL), Dell Technologies (DELL), and HP Inc. (HPQ) initiated with a Neutral at Credit Suisse. 3. Yeti (YETI) initiated with an Outperform at Cowen. 4. CVS Health (CVS) initiated with a Market Perform at BMO Capital. 5. Canadian Solar (CSIQ) assumed with a Neutral at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/15/19
OPCO
04/15/19
DOWNGRADE
OPCO
Perform
CVS Health downgraded to Perform from Outperform at Oppenheimer
UNH UnitedHealth
$221.70

-8.71 (-3.78%)

04/17/19
RHCO
04/17/19
NO CHANGE
Target $300
RHCO
Buy
UnitedHealth price target lowered to $300 from $330 at SunTrust
SunTrust analyst David MacDonald lowered his price target on UnitedHealth to $300 to reflect the compression in market multiples but also keeps his Buy rating on the company after the company's Q1 results that were "marked by solid core trends across both divisions and a well managed medical cost trend." The analyst notes that the industry concerns around Medicare for America and Affordable Care Act programs are weighing on the stock, but he sees "structural changes to the model as quite low" and remains "bullish" on the shares. MacDonald adds that UnitedHealth's free cash flows remain "robust", capital deployment opportunities are "plentiful" and its "valuation risk/reward is compelling."
04/16/19
PIPR
04/16/19
NO CHANGE
Target $312
PIPR
Overweight
UnitedHealth comments outweighed 'strong fundamentals,' says Piper Jaffray
Both UnitedHealth (UNH) and the healthcare services sector traded down as concern over UnitedHealth's Medicare-for-All comments "outweighed strong fundamentals," Piper Jaffray analyst Sarah James tells investors in a research note. The analyst, however, sees positive read-throughs for the managed care organizations. James believes Senator Bernie Sanders' Medicare-for-All has "no chance" due to a number of factors including costs. The "more mild" Medicare buy-in versions are positive for managed care organizations but negative for hospitals, the analyst tells investors in a research note. She admits, though, that if sentiment is driven more by Medicare-for-All than rebates, the overhang could last through the Q1 of 2020 primaries or until support for Senator Sanders wanes. James has an Overweight rating on UnitedHealth with a $312 price target.
04/16/19
CANT
04/16/19
NO CHANGE
Target $310
CANT
Overweight
Cantor says take advantage of sentiment to buy UnitedHealth after earnings
Cantor Fitzgerald analyst Steven Halper reiterated his Overweight rating and $310 price target on UnitedHealth shares after the company reported Q1 results that he called "strong" and raised its FY19 EPS guidance, stating that he did not hear anything "problematic" during the company's earnings call that would account for the reversal of the stock during the call and its subsequent weakness. He assumes today's weakness is related to ongoing concerns about "Medicare for All" proposals, which he views as "entirely overblown." While noting that "it is hard to fight the sentiment trade at this juncture in the short-term," Halper said that similar efforts have failed in the past and he expects the same will happen again this time, after which investors in UnitedHealth " should be well rewarded" over the long-term.
04/16/19
RAJA
04/16/19
NO CHANGE
RAJA
Strong Buy
UnitedHealth 'starts season off right' with beat and raise, says Raymond James
UnitedHealth's stronger than expected Q1 EPS was driven by strong top line growth coupled with a lower Medical Loss Ratio, or MLR, and strong cost controls, said Raymond James analyst John Ransom, who contends that the company started "the earnings season off right" with its beat and raise report. Ransom kept a Strong Buy rating on UnitedHealth shares ahead of the company's earnings call. Post the call, UnitedHealth shares are down 4% to $220.45 in early afternoon trading.
MOH Molina Healthcare
$122.10

-9.835 (-7.45%)

03/05/19
MSCO
03/05/19
NO CHANGE
MSCO
Uncertain future of PBMs creating cloud over MCO group, says Morgan Stanley
Morgan Stanley analyst Zack Sopcak noted that managed care stocks he covers are down an average of 10% since February 22 and "theories abound" as to why. In talks with investors, he has heard Medicare for All, drug pricing hearings and cuts to insulin prices all mentioned as potential reasons for the pressure, though "none have really stuck," Sopcak stated. However, he does believe a lack of understanding or agreement on the future of PBMs and contributions to earnings in light of HHS' proposals have "created a cloud" over the MCO group, Sopcak said. The analyst, who calls out the magnitude of the move in UnitedHealth (UNH) in particular as unwarranted, points to three potential upcoming catalysts that can "break the group's malaise" prior to earnings: Anthem's (ANTM) investor day on March 7, Humana's (HUM) investor day on March 19 and the Medicare Advantage final rate setting announcement on April 1. Other MCOs include Cigna (CI), Centene (CNC), Molina Healthcare (MOH) and WellCare (WCG).
04/05/19
COWN
04/05/19
NO CHANGE
COWN
Centene, Molina could be 'compelling' targets for Humana, says Cowen
Cowen analyst Charles Rhyee said he believes Centene's (CNC) planned takeover of WellCare (WCG) could potentially accelerate Humana's (HUM) timeline to acquire a scaled Medicaid asset, noting that it currently has the second smallest Medicaid book among managed care organizations. His analysis suggests Centene and Molina Healthcare (MOH) could both be "compelling acquisition targets" for Humana and believes the company has the financial capacity to make a bid for either, though Rhyee added that he does not believe Humana needs to rush a decision. Rhyee sees about a one year window in which Humana "can dictate the Medicaid M&A market" before Cigna (CI) and/or CVS Health (CVS) can get involved, he tells investors. While the analyst believes Centene makes the most sense as a potential target for Humana if the latter does not win the Texas STAR+PLUS contract, he suspects Centene is not willing to sell and believes Humana would have to offer a significant premium. If Humana does win the Texas STAR+PLUS contract it does not need to pursue large scale M&A, but a deal could be attractive anyway, Rhyee said.
02/28/19
02/28/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Wayfair (W) initiated with a Hold at Argus. 2. Molina Healthcare (MOH) initiated with a Market Perform at Cowen. 3. Albireo Pharma (ALBO) initiated with a Buy at H.C. Wainwright. 4. Vista Outdoor (VSTO) initiated with a Buy at B. Riley FBR. 5. Atlassian (TEAM) initiated with a Hold at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/28/19
GSCO
03/28/19
NO CHANGE
GSCO
Federal judge blocking Medicaid work rule positive for MCOs, says Goldman Sachs
Goldman Sachs analyst Stephen Tanal noted that Politico reported that a federal judge ruled for the second time to block new work requirements as a condition for Medicaid eligibility in Kentucky and Arkansas, calling the ruling an incremental positive for Managed Care and Provider companies. MCOs whose primary business is Medicaid managed care are most exposed to this theme, said Tanal, who lists Molina (MOH), WellCare (WCG) and Centene (CNC) as three with a higher percentage of MMC lives in states that have submitted waivers requesting approval to impose work requirements. However, the analyst also noted that Kentucky's Governor has already issued an executive order indicating the state would appeal any decision by a court against work requirements and, if unsuccessful, would reverse its Medicaid Expansion program. WellCare, CVS' (CVS) Aetan, Humana (HUM) and Anthem (ANTM) all operate in Kentucky's Medicaid managed care program, the analyst noted.
CI Cigna
$151.25

-12.58 (-7.68%)

03/29/19
03/29/19
DOWNGRADE

WellCare downgraded to Hold at Argus on Centene merger
Argus analyst David Toung downgraded WellCare (WCG) to Hold after it agreed to be acquired by Centene (CNC) in a $17.3B deal or at $305.39 per share. The analyst notes that because the deal would yield an entity that is smaller than the insurance industry giants, it may receive a more favorable treatment from the regulators than the failed Aetna (AET) -Humana (HUM) and Anthem (ANTM)-Cigna (CI) deals, but warns that some antitrust scrutiny is still possible due to overlaps between the companies in a few states. Toung adds that the new company would have "strengths in Medicare Advantage and Medicaid, both of which are growing markets."
04/10/19
CANT
04/10/19
NO CHANGE
CANT
Senate hearing a net positive for PBMs, says Cantor Fitzgerald
Cantor Fitzgerald analyst Steven Halper views yesterday's Senate hearing as a net positive for the pharmacy benefit managers. The PBMs represented were Cigna (CI), CVS Health (CVS), UnitedHealth (UNH), Humana (HUM) and Prime Therapeutics. Although the Senators were not supportive of the PBMs, the executives responded well to questions and put forth a solid effort to address concerns regarding their business model and incentives, Halper tells investors in a research note. Overall, he views the hearing as a net positive for PBMs "as the group was able to counter the negative sentiment with constructive responses, recognizing this story is far from over."
03/21/19
RAJA
03/21/19
UPGRADE
Target $8
RAJA
Outperform
Raymond James upgrades Diplomat Pharmacy, sees number of potential suitors
Raymond James analyst John Ransom upgraded Diplomat Pharmacy (DPLO) to Outperform from Market Perform with an $8 price target. The stock closed yesterday up 14c to $5.86. Following the 56% share decline since the February earnings delay, Diplomat would represent value to a strategic buyer, Ransom tells investor in a research note. The analyst sees a number of potential buyers that would "covet" Diplomat Pharmacy's infusion franchise and could fold its large mail order business into an existing platform, including UnitedHealth (UNH), Cigna (CI), CVS Health (CVS), Anthem (ANTM) and Centene (CNC). Ransom thinks Diplomat's current fundamentals should motivate its board to step up its assessment of strategic options. He believes the company's collection of assets are underappreciated at current valuation levels.
ANTM Anthem
$245.46

-17.61 (-6.69%)

03/08/19
FBCO
03/08/19
NO CHANGE
Target $368
FBCO
Outperform
Anthem price target raised to $368 from $344 at Credit Suisse
Credit Suisse analyst A.J. Rice maintained an Outperform rating on Anthem and raised his price target to $368 from $344 following the company's investor day. In a research note to investors, Rice noted that the company raised its long-term core EPS growth target to 12%-15% from 8%-12%, and said EPS will grow at 20% or more for the next two years as it rolls out its new PBM, IngenioRx, and realizes the related savings. Rice raised his 2019, 2020, and 2021 EPS estimates by 10c, $1.50 and $2.35 to $19.10, $23.00, and $26.00, respectively.
HNT Health Net
$0.00

(0.00%)

CNC Centene
$50.15

-3.04 (-5.72%)

04/15/19
FBCO
04/15/19
INITIATION
Target $307
FBCO
Neutral
WellCare initiated with a Neutral at Credit Suisse
Credit Suisse analyst A.J. Rice started coverage of WellCare (WCG) with a Neutral rating and a $307 price target. While the analyst forecasts WellCare growing revenue and EPS by roughly 29% and 22% this year, with revenue of more than $26B and EPS reaching $13.35, he believes the pending Centene (CNC) deal limits upside over near to immediate term.
04/10/19
RHCO
04/10/19
NO CHANGE
RHCO
SunTrust lowers price targets on CVS, raises price target on WellCare
SunTrust analyst David MacDonald lowered his price target on CVS (CVS) to $65 from $85 as part of his broader research note previewing Q1 results for the healthcare services stocks. The analyst expects the quarter to reflect the company's challenges around reimbursement pressure, fewer generics, and lower brand inflation that should be a detriment to retail pharmacy and long-term-care businesses, even though he maintains a bullish view on the stock longer term based on its risk-reward profile. MacDonald also raises his price target on WellCare (WCG) to $340 from $305, saying his bullish expectation for the stock is driven by the company's "strong core trends, high visibility, and superb win rate". The analyst also cites the pending WellCare acquisition by Centene (CNC) yielding a "meaningful combined pharmacy opportunity and increased diversification" from an expanded "Medicaid footprint".
HUM Humana
$236.68

-17.28 (-6.80%)

WCG WellCare
$259.31

-10.42 (-3.86%)

JNJ Johnson & Johnson
$138.00

1.47 (1.08%)

04/09/19
NEED
04/09/19
UPGRADE
Target $3
NEED
Buy
Geron upgraded to Buy from Hold at Needham
Needham analyst Chad Messer upgraded Geron (GERN) to Buy with a price target of $3, saying the return of development rights for imetelstat in September by Janssen (JNJ) has created a "buying opportunity". The analyst cites the program's subsequent readouts from Phase II IMbark and IMerge studies in myelofibrosis and myelodysplastic syndrome, which he states has "established efficacy in both patient populations." Messer further contends that big pharma passing on imetelstat does not reflect a fundamental issue with the drug itself.
04/09/19
PIPR
04/09/19
NO CHANGE
Target $32
PIPR
Neutral
Alkermes' ALPINE data an incremental positive, says Piper Jaffray
After Alkermes (ALKS) reported this morning that its ALPINE trial met its primary endpoint and that Aristada showed similar efficacy to the current market leader, Invega Sustenna, at all time points assessed, Piper Jaffray analyst Danielle Brill said she views the data as an incremental positive. However, she thinks it will be challenging to capture share from Johnson & Johnson (JNJ), telling investors that she is "not sure these data will be enough to move the needle." Brill maintains a Neutral rating on Alkermes.
04/05/19
PIPR
04/05/19
NO CHANGE
Target $325
PIPR
Overweight
Piper a 'little cautious' on Q2 results for Cooper Companies
After speaking with a contact lens distributor, Piper Jaffray analyst Matt O'Brien is a "little cautious" on Cooper Companies' fiscal Q2 results. The shift to dailies continues, which is positive for the market as a whole, but Johnson & Johnson (JNJ) and Alcon were more aggressive in calendar Q1, so results for the category "may be a bit unusual," O'Brien tells investors in a research note. In addition to the "odd activity" from the two largest players, the analyst also heard about some "aggressive behavior" from Cooper in recent weeks, which makes him think the company should hit its numbers. He's still bullish on Cooper Companies capturing share in lenses in 2019 and 2020 and keeps an Overweight rating on the name.
04/08/19
PIPR
04/08/19
NO CHANGE
Target $20
PIPR
Overweight
Immunomedics deal with J&J indicates sacituzumab re-filing, says Piper Jaffray
Immunomedics (IMMU) this morning announced that it has entered into an agreement with Johnson & Johnson (JNJ) to provide detailing services to J&J for erdafitinib in the U.S. through Q1 of 2020, Piper Jaffray analyst Joseph Catanzaro tells investors in a research note. The analyst believes the deal will provide incremental revenue to Immunomedics while allowing the company to keep its sacituzumab-trained sales team on board while offsetting some of the costs. Further, the Q1 of 2020 termination suggests a potential timeline for a sacituzumab re-filing and approval, says Catanzaro, who notes Immunomedics has not yet provided guidance. The analyst remains comfortable with his mid-2020 approval timing for sacituzumab and keeps an Overweight rating on Immunomedics with a $20 price target.

TODAY'S FREE FLY STORIES

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
04/22/19
04/22
16:20
04/22/19
16:20
Options
Closing CBOE SPX and VIX Index summary for April 22nd »

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VCYT

Veracyte

$23.04

0.02 (0.09%)

16:19
04/22/19
04/22
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Veracyte gets regulatory authorization to offer Envisia Genomic Classifier in NY »

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CMRE

Costamare

$5.65

-0.09 (-1.57%)

16:19
04/22/19
04/22
16:19
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16:19
Earnings
Costamare reports Q1 adj. EPS 12c, consensus 9c »

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  • 23

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AEP

American Electric

$82.92

-0.04 (-0.05%)

16:19
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16:19
Earnings
Breaking Earnings news story on American Electric »

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TSLA

Tesla

$262.90

-10.35 (-3.79%)

16:19
04/22/19
04/22
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Hot Stocks
Tesla says Autopilot does a 'decent job' in snowy conditions »

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  • 22

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NOG

Northern Oil and Gas

$2.73

0.125 (4.81%)

16:18
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16:18
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16:18
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Northern Oil and Gas to acquire Williston Basin properties of VEN Bakken »

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NBTB

NBT Bancorp

$36.77

-0.28 (-0.76%)

16:18
04/22/19
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16:18
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16:18
Earnings
NBT Bancorp reports Q1 EPS 66c, consensus 63c »

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WHR

Whirlpool

$139.39

0.35 (0.25%)

16:17
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Breaking Hot Stocks news story on Whirlpool »

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  • 23

    Apr

JMP

JMP Group

$3.99

(0.00%)

16:17
04/22/19
04/22
16:17
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16:17
Hot Stocks
JMP Group announces extension of share repurchase program »

JMP Group LLC announced…

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  • 23

    May

KAR

KAR Auction

$55.91

-0.59 (-1.04%)

16:17
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04/22
16:17
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16:17
Hot Stocks
Insurance Auto Auctions appoints Vance Johnston as CFO »

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  • 23

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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16:17
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16:17
Technical Analysis
NASDAQ market internals summary »

Volume was average for…

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FBK

FB Financial

$33.76

-0.9 (-2.60%)

16:17
04/22/19
04/22
16:17
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16:17
Earnings
FB Financial reports Q1 adjusted EPS 66c, consensus 59c »

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  • 23

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    Jun

BOH

Bank of Hawaii

$81.30

0.54 (0.67%)

16:17
04/22/19
04/22
16:17
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16:17
Downgrade
Bank of Hawaii rating change  »

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  • 22

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WHR

Whirlpool

$139.39

0.35 (0.25%)

16:16
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16:16
Hot Stocks
Whirlpool CEO says 'we delivered another strong quarter' »

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  • 23

    Apr

CTRC

Centric Brands

$3.84

-0.04 (-1.03%)

16:16
04/22/19
04/22
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16:16
Hot Stocks
Centric Brands receives notification of deficiency from Nasdaq »

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TTD

Trade Desk

$211.14

12.38 (6.23%)

16:16
04/22/19
04/22
16:16
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16:16
Initiation
Trade Desk initiated at Needham »

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  • 30

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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NYSE market internals summary »

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ZION

Zions Bancorp

$46.68

-0.63 (-1.33%)

16:15
04/22/19
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16:15
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Earnings
Zions Bancorp reports Q1 EPS $1.04, consensus $1.05 »

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  • 22

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WHR

Whirlpool

$139.39

0.35 (0.25%)

16:15
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Hot Stocks
Breaking Hot Stocks news story on Whirlpool »

Whirlpool sees FY19 CapEx…

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  • 23

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SIMO

Silicon Motion

16:14
04/22/19
04/22
16:14
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16:14
Downgrade
Silicon Motion rating change  »

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CDNS

Cadence Design

$64.23

0.865 (1.37%)

16:14
04/22/19
04/22
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Hot Stocks
Cadence Design reports Q1 operating margin 32% vs 28% last year »

Cadence Design CFO John…

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  • 22

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RCKT

Rocket Pharmaceuticals

$17.80

0.93 (5.51%)

16:14
04/22/19
04/22
16:14
04/22/19
16:14
Initiation
Rocket Pharmaceuticals initiated  »

Rocket Pharmaceuticals…

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WHR

Whirlpool

$139.31

0.27 (0.19%)

16:14
04/22/19
04/22
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Hot Stocks
Whirlpool CFO says 'on track' to meet FY earnings, cash flow guidance »

"In addition to our…

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  • 23

    Apr

EGP

EastGroup Properties

$109.43

-1.28 (-1.16%)

16:13
04/22/19
04/22
16:13
04/22/19
16:13
Earnings
EastGroup Properties raises FY19 FFO view to $4.84-$4.94, consensus $4.85 »

Raises the mid-point of…

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  • 23

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    Jun

HARP

Harpoon Therapeutics

$11.63

-1.405 (-10.78%)

16:13
04/22/19
04/22
16:13
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16:13
Initiation
Harpoon Therapeutics initiated  »

Harpoon Therapeutics…

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