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WCG

WellCare

$273.55

-0.91 (-0.33%)

, CNC

Centene

$55.41

-0.04 (-0.07%)

12:27
05/24/19
05/24
12:27
05/24/19
12:27

Activist Third Point has built Centene stake of at least $300M, WSJ says

WCG

WellCare

$273.55

-0.91 (-0.33%)

CNC

Centene

$55.41

-0.04 (-0.07%)

  • 29

    May

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    Jun

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    Jun

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    Jul

WCG WellCare
$273.55

-0.91 (-0.33%)

05/16/19
COWN
05/16/19
NO CHANGE
COWN
Move lower in managed care stocks appears overdone, says Cowen
Cowen analyst Charles Rhyee lowered his target multiple for the managed care group slightly from recent historical levels, but said he believes the recent weakness in the space on concerns around "Medicare for All," the rebate rule and the Texas ACA decision appears overdone. The discount for managed care stocks relative to the broader market has risen to a multi-year high, but he argues that underlying market fundamentals are stronger than in the pre-ACA era and Rhyee contends that there is "still plenty of growth left" in the managed care space, particularly in government-sponsored business. Stocks in the group include Anthem (ANTM), Cigna (CI), Centene (CNC), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).
05/07/19
SBSH
05/07/19
NO CHANGE
SBSH
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.
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).
04/15/19
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.
CNC Centene
$55.41

-0.04 (-0.07%)

05/10/19
05/10/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. 3D Systems (DDD) upgraded to Neutral from Underweight at JPMorgan with analyst Paul Coster noting the stock is down 25% this week after posting "lackluster" Q1 results. 2. Jones Lang LaSalle (JLL) upgraded to Buy from Neutral at Goldman Sachs with analyst Andrew Rosivach saying the company's earnings declined in Q1 due to tough comps, but this should reverse quickly. 3. Ford (F) upgraded to Buy from Neutral at BofA/Merrill with analyst John Murphy stating the company's earnings are starting to hit a "sustainable inflection" due to favorable product cadence in the North America market and its restructuring efforts. 4. Whirlpool (WHR) upgraded to Buy from Neutral at Longbow with analyst David MacGregor seeing earnings upside from better than expected North American margin performance, a "gradually improving" environment in the EMEA and a favorable cyclical turn in Latin America. 5. Anthem (ANTM), Centene (CNC), and UnitedHealth (UNH) upgraded to Buy from Neutral at Citi with analyst Ralph Giacobbe the magnitude of the selloff in managed care stocks on fears of Medicare for All has been "extreme and overdone". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/10/19
05/10/19
UPGRADE

Citi upgrades Anthem, Centene, UnitedHealth to Buy after 'extreme' selloff
Citi analyst Ralph Giacobbe upgraded Anthem (ANTM), Centene (CNC), and UnitedHealth (UNH) to Buy from Neutral while maintaining Buy ratings on Cigna (CI) and Humana (HUM). The magnitude of the selloff in managed care stocks on fears of Medicare for All has been "extreme and overdone," Giacobbe tells investors in a research note. The analyst sees favorable risk/rewards in the sector and does not subscribe to the view of a continued "overhang" and "uncertainty." Instead, Giacobbe expects a share recovery as "more realistic views prevail and investors become more numb to the low-likelihood headlines and political rhetoric of single payor."
05/10/19
SBSH
05/10/19
UPGRADE
SBSH
Buy
Centene upgraded to Buy from Neutral at Citi
Citi analyst Ralph Giacobbe upgraded Centene to Buy from Neutral.

TODAY'S FREE FLY STORIES

NTES

NetEase

$262.82

0.42 (0.16%)

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AAPL

Apple

$199.18

0.41 (0.21%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
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AFMD

Affimed N.V.

$2.97

-0.45 (-13.16%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
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NSIT

Insight Enterprises

$56.89

0.7 (1.25%)

, PCMI

PCM, Inc.

$34.67

10.315 (42.36%)

13:13
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13:13
Recommendations
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NSIT

Insight Enterprises

$56.89

0.7 (1.25%)

PCMI

PCM, Inc.

$34.67

10.315 (42.36%)

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  • 24

    Jun

NBL

Noble Energy

$21.32

-0.24 (-1.11%)

, OXY

Occidental Petroleum

$50.09

-0.53 (-1.05%)

13:07
06/24/19
06/24
13:07
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13:07
Periodicals
U.S. natural gas prices plummet in June, Forbes says »

According to Jude…

NBL

Noble Energy

$21.32

-0.24 (-1.11%)

OXY

Occidental Petroleum

$50.09

-0.53 (-1.05%)

EOG

EOG Resources

$90.84

-1.57 (-1.70%)

DVN

Devon Energy

$27.93

-0.31 (-1.10%)

APA

Apache

$29.14

-0.52 (-1.75%)

CHK

Chesapeake

$1.89

-0.055 (-2.83%)

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D

Dominion

$79.35

1.01 (1.29%)

13:05
06/24/19
06/24
13:05
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13:05
Options
Dominion call volume above normal and directionally bullish »

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ARDS

Aridis Pharmaceuticals

$9.65

-0.55 (-5.39%)

13:04
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Hot Stocks
Aridis' treatment of lung infections in CF patients granted orphan designation »

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ELF

e.l.f. Beauty

$13.37

0.3 (2.30%)

, COTY

Coty

$13.09

-0.12 (-0.91%)

13:02
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On The Fly
Ulta, Sally Beauty slide after Amazon announces Professional Beauty Store »

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ELF

e.l.f. Beauty

$13.37

0.3 (2.30%)

COTY

Coty

$13.09

-0.12 (-0.91%)

REV

Revlon

$21.48

-0.65 (-2.94%)

EL

Estee Lauder

$183.51

2.21 (1.22%)

AMZN

Amazon.com

$1,907.03

-3.39 (-0.18%)

SBH

Sally Beauty

$12.83

-1.96 (-13.25%)

ULTA

Ulta Beauty

$342.74

-13.03 (-3.66%)

03/08/13
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MCRB

Seres Therapeutics

$2.99

0.31 (11.57%)

, PSEC

Prospect Capital

$6.62

0.02 (0.30%)

13:01
06/24/19
06/24
13:01
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13:01
On The Fly
Fly Insider: Seres, Tiffany among week's notable insider transactions »

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MCRB

Seres Therapeutics

$2.99

0.31 (11.57%)

PSEC

Prospect Capital

$6.62

0.02 (0.30%)

SGMS

Scientific Games

$18.30

-0.69 (-3.63%)

FCNCA

First Citizens

$437.76

2.47 (0.57%)

PBF

PBF Energy

$27.64

-0.825 (-2.90%)

GIII

G-III Apparel

$27.96

0.04 (0.14%)

TIF

Tiffany

$92.98

-0.66 (-0.70%)

NVDA

Nvidia

$153.37

1.63 (1.07%)

ZAYO

Zayo Group

$33.00

-0.04 (-0.12%)

WRB

W. R. Berkley

$67.11

0.23 (0.34%)

ZBRA

Zebra Technologies

$201.50

1.35 (0.67%)

03/08/13
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BCOM

B Communications Ltd.

$1.90

0.05 (2.70%)

12:59
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Hot Stocks
B Communications Ltd. says board approves Searchlight transaction »

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ANTM

Anthem

$288.53

-5 (-1.70%)

12:55
06/24/19
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12:55
Options
Anthem put volume heavy and directionally bearish »

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  • 25

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MNK

Mallinckrodt

$8.57

-0.39 (-4.35%)

12:40
06/24/19
06/24
12:40
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12:40
Options
Mallinckrodt call block opens $5M long-dated position 110% above spot »

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  • 25

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BZUN

Baozun

$48.07

-1.33 (-2.69%)

12:35
06/24/19
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12:35
Options
Baozun put volume heavy and directionally bearish »

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CUB

Cubic

$62.66

-1.1 (-1.73%)

12:25
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Conference/Events
Cubic to host investor meeting »

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  • 24

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FB

Facebook

$193.26

2.1 (1.10%)

12:23
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  • 10

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JMIA

Jumia Technologies

$25.42

-0.26 (-1.01%)

12:20
06/24/19
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ETFC

E-Trade

$44.83

-1.4 (-3.03%)

12:20
06/24/19
06/24
12:20
06/24/19
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Options
E Trade put seller opens August 40 strike position »

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  • 06

    Aug

T

AT&T

$32.59

0.13 (0.40%)

12:18
06/24/19
06/24
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12:18
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  • 24

    Jul

FTD

FTD Companies

$0.00

(0.00%)

12:17
06/24/19
06/24
12:17
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12:17
Hot Stocks
FTD Companies enters into asset purchase agreement for Personal Creations »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
06/24/19
06/24
12:17
06/24/19
12:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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06/24
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NYSE market internals summary »

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BMY

Bristol-Myers

$45.94

-3.42 (-6.93%)

, CELG

Celgene

$93.98

-4.94 (-4.99%)

12:15
06/24/19
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On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks are mildly higher…

BMY

Bristol-Myers

$45.94

-3.42 (-6.93%)

CELG

Celgene

$93.98

-4.94 (-4.99%)

ERI

Eldorado Resorts

$45.74

-5.48 (-10.70%)

CZR

Caesars

$11.52

1.53 (15.32%)

PCMI

PCM, Inc.

$34.71

10.36 (42.55%)

NSIT

Insight Enterprises

$57.56

1.37 (2.44%)

KRYS

Krystal Biotech

$37.20

7.92 (27.05%)

SBH

Sally Beauty

$12.94

-1.85 (-12.51%)

AMZN

Amazon.com

$1,909.00

-1.42 (-0.07%)

WAB

Wabtec

$68.53

-4.22 (-5.80%)

03/08/13
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  • 24

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SRPT

Sarepta

$128.78

-1.13 (-0.87%)

12:15
06/24/19
06/24
12:15
06/24/19
12:15
Options
Sarepta put volume heavy and directionally bearish »

Bearish flow noted in…

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