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CNC

Centene

$56.04

3.44 (6.54%)

, WCG

WellCare

$259.75

-1.745 (-0.67%)

07:15
05/07/19
05/07
07:15
05/07/19
07:15

Citi sees low likelihood of Centene walking from WellCare deal

Amid reports suggesting shareholders could challenge Centene's (CNC) acquisition of WellCare (WCG), and Humana (HUM) possibly being interested in a takeover of Centene if the WellCare deal was dropped, Citi analyst Ralph Giacobbe says he's be surprised to see the deal unravel. Further, he'd be equally surprised to see Humana come over the top for Centene after its Medicaid win in Florida and recent commentary citing optimism in its organic direction. That said, there is a scarcity of Medicaid assets, and Humana has discussed its interest in dual and other higher acuity Medicaid populations, Giacobbe tells investors in a research note. Nonetheless, the analyst ultimately sees a low likelihood of Centene walking from the WellCare deal.

CNC

Centene

$56.04

3.44 (6.54%)

WCG

WellCare

$259.75

-1.745 (-0.67%)

HUM

Humana

$249.48

(0.00%)

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CNC Centene
$56.04

3.44 (6.54%)

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".
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.
04/17/19
SPHN
04/17/19
NO CHANGE
SPHN
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).
04/24/19
RHCO
04/24/19
NO CHANGE
Target $80
RHCO
Buy
Centene price target lowered to $80 from $90 at SunTrust
SunTrust analyst David MacDonald lowers his price target on Centene to $80 to reflect the changes to market multiples but keeps his Buy rating after the company's "strong" Q1 results. The analyst says the performance in the quarter was driven by "solid core Medicaid trends, Marketplace expansion, and robust cash flow." MacDonald also believes that Medicare is "positioned for a big 2020 and beyond."
WCG WellCare
$259.75

-1.745 (-0.67%)

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.
HUM Humana
$249.48

(0.00%)

04/24/19
BARD
04/24/19
NO CHANGE
Target $80
BARD
Outperform
Humana virtual primary care launch a positive for Teladoc, says Baird
The announced launch of Humana's (HUM) virtual primary care plan represents a positive read for Teladoc Health (TDOC), Baird analyst Matthew Gillmor tells investors in a research note. While Humana is partnering with its current telehealth vendor Dr. On Demand to support the offering, the announcement underscores the emerging shift to "virtual first" benefit designs, says the analyst. He points out that Teladoc started discussing this concept during 2018 and launched a virtual first plan with an employer client starting January 1. Gillmor keeps an Outperform rating on Teladoc with an $80 price target.
05/02/19
OPCO
05/02/19
NO CHANGE
Target $350
OPCO
Outperform
Humana price target lowered to $350 from $373 at Oppenheimer
Oppenheimer analyst Michael Wiederhorn lowered his price target for Humana to $350 from $373, while reiterating an Outperform rating on the shares given the significant pullback in the stock. With the company's exposure to the attractive Medicare market and related utilization remaining moderate, the analyst believes Humana appears well-positioned for 2019 and beyond.
05/02/19
RHCO
05/02/19
NO CHANGE
Target $300
RHCO
Hold
Humana price target lowered to $300 from $345 at SunTrust
SunTrust analyst David MacDonald lowered his price target on Humana to $300 to reflect lower industry multiples and also his reduced FY20 EPS outlook to $18.94 from $19.16. The analyst says that while the company's Q1 Medicare Advantage enrollment was better than expected, he sees the return of the health insurance industry fees, or HIF, slowing Humana's FY20 revenue growth below its 11%-15% long-term target.
05/02/19
FBCO
05/02/19
NO CHANGE
Target $315
FBCO
Outperform
Humana price target lowered to $315 from $352 at Credit Suisse
Credit Suisse analyst A.J. Rice lowered his price target for Humana to $315 from $352 following quarterly results given macro noise. The analyst reiterates an Outperform rating on the shares.

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BHGE

Baker Hughes

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Visa

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EHC

Encompass Health

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IONS

Ionis Pharmaceuticals

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Biogen

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Ionis Pharmaceuticals

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Biogen

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NVS

Novartis

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CNC

Centene

$56.30

0.85 (1.53%)

, WCG

WellCare

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Centene

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WellCare

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Microsoft

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Microsoft

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NVS

Novartis

$86.93

2.47 (2.92%)

12:33
05/24/19
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CNC

Centene

$55.37

-0.08 (-0.14%)

, WCG

WellCare

$273.18

-1.28 (-0.47%)

12:33
05/24/19
05/24
12:33
05/24/19
12:33
Periodicals
Third Point thinks Centene should consider sale before buying WellCare, WSJ says »

Daniel Loeb's Third…

CNC

Centene

$55.37

-0.08 (-0.14%)

WCG

WellCare

$273.18

-1.28 (-0.47%)

HUM

Humana

$262.97

3.1 (1.19%)

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NVS

Novartis

$86.95

2.49 (2.95%)

12:31
05/24/19
05/24
12:31
05/24/19
12:31
Hot Stocks
Breaking Hot Stocks news story on Novartis »

Novartis announces FDA…

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KNX

Knight-Swift

$29.75

-0.65 (-2.14%)

12:30
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Volatility play opened in Knight Transportation »

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