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CNC

Centene

$51.58

-6.14 (-10.64%)

, HUM

Humana

$249.29

4.4 (1.80%)

12:46
06/03/19
06/03
12:46
06/03/19
12:46

Centene weakness due to Humana disclosure 'overdone,' says Cantor Fitzgerald

Cantor Fitzgerald analyst Steven Halper notes that Humana (HUM) released an 8-K filing confirming it will not make a proposal to acquire Centene (CNC). With speculation around Humana's involvement casting doubt on Centene's pending merger with WellCare (WCG), the analyst says the news increases his confidence that the merger will be completed by the third quarter of 2020, and continues to believe that the company's merger with WellCare makes sense and should create significant value. Halper expects Centene-WellCare will have to divest certain Medicaid assets given the overlap in some states, but he believes that the acquisition will ultimately be completed by the company's estimated timeline. The analyst has an Overweight rating and $83 price target on Centene's shares.

CNC

Centene

$51.58

-6.14 (-10.64%)

HUM

Humana

$249.29

4.4 (1.80%)

WCG

WellCare

$277.12

0.97 (0.35%)

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CNC Centene
$51.58

-6.14 (-10.64%)

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
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.
05/16/19
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).
06/03/19
BMOC
06/03/19
DOWNGRADE
Target $304
BMOC
Market Perform
WellCare downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Matt Borsch downgraded WellCare Health Plans (WCG) to Market Perform from Outperform with an unchanged price target of $304. The analyst sees Centene (CNC) as the better stock to own ahead of the pending merger. There is also the possibility of deal failure, which would leave a standalone investment in WellCare that would probably include less takeout premium than prevailed pre-merger, Borsch tells investors in a research note.
HUM Humana
$249.29

4.4 (1.80%)

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.
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.
WCG WellCare
$277.12

0.97 (0.35%)

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).

TODAY'S FREE FLY STORIES

PM

Philip Morris

$79.12

0.8 (1.02%)

, HON

Honeywell

$163.86

0.2 (0.12%)

20:25
10/16/19
10/16
20:25
10/16/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

PM

Philip Morris

$79.12

0.8 (1.02%)

HON

Honeywell

$163.86

0.2 (0.12%)

UNP

Union Pacific

$163.31

0.11 (0.07%)

MS

Morgan Stanley

$42.82

0.28 (0.66%)

BBT

BB&T

$53.00

0.25 (0.47%)

STI

SunTrust

$68.28

0.23 (0.34%)

PPG

PPG

$118.89

0.665 (0.56%)

MTB

M&T Bank

$159.14

0.27 (0.17%)

KEY

KeyCorp

$17.70

-0.08 (-0.45%)

GPC

Genuine Parts

$97.72

-0.22 (-0.22%)

DOV

Dover

$95.71

-0.24 (-0.25%)

TXT

Textron

$50.52

-0.15 (-0.30%)

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    Nov

GLD

SPDR Gold Shares

$140.39

0.81 (0.58%)

20:11
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Hot Stocks
SPDR Gold Shares holdings fall to 918.19MT from 919.66MT »

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ACB

Aurora Cannabis

$3.60

-0.15 (-4.00%)

19:20
10/16/19
10/16
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Hot Stocks
Aurora Cannabis to roll out vapes, concentrates, edibles in Canada in December »

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  • 12

    Nov

TEVA

Teva

$6.94

-0.02 (-0.29%)

19:20
10/16/19
10/16
19:20
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19:20
Upgrade
Teva rating change at Gabelli »

Teva upgraded to Buy from…

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  • 07

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CAAP

Corporacion America Airport

$4.39

-0.09 (-2.01%)

19:14
10/16/19
10/16
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19:14
Hot Stocks
Corporacion America Airport reports September passenger traffic up 1.2% »

Corporacion America…

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GM

General Motors

$36.65

0.38 (1.05%)

19:10
10/16/19
10/16
19:10
10/16/19
19:10
Periodicals
Tentative GM-UAW deal does not include reopening of Lordstown plant, NYP says »

A tentative agreement…

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  • 29

    Oct

LLNW

Limelight Networks

$3.10

-0.08 (-2.52%)

, NFLX

Netflix

$286.83

2.59 (0.91%)

18:55
10/16/19
10/16
18:55
10/16/19
18:55
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: …

LLNW

Limelight Networks

$3.10

-0.08 (-2.52%)

NFLX

Netflix

$286.83

2.59 (0.91%)

TCBI

Texas Capital

$54.33

-0.15 (-0.28%)

CSX

CSX

$68.99

-0.18 (-0.26%)

AA

Alcoa

$19.17

-0.28 (-1.44%)

CCI

Crown Castle

$134.76

0.11 (0.08%)

RGLS

Regulus

$0.72

0.0501 (7.54%)

IBM

IBM

$142.04

-0.94 (-0.66%)

URI

United Rentals

$121.73

1.02 (0.85%)

03/08/13
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NFLX

Netflix

$286.83

2.59 (0.91%)

18:37
10/16/19
10/16
18:37
10/16/19
18:37
Hot Stocks
Netflix says shares viewing data with producers each week »

Says shares viewing data…

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  • 16

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BRBR

BellRing Brands

$0.00

(0.00%)

18:34
10/16/19
10/16
18:34
10/16/19
18:34
Syndicate
BellRing Brands 34.29M share IPO priced at $14.00 »

The deal size was…

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  • 17

    Oct

GSBC

Great Southern Bancorp

$57.28

-0.03 (-0.05%)

18:32
10/16/19
10/16
18:32
10/16/19
18:32
Earnings
Great Southern Bancorp reports Q3 preliminary EPS $1.38, consensus $1.23 »

Reports Q3 NII $45.9M,…

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  • 17

    Oct

CRM

Salesforce

$146.96

-5.89 (-3.85%)

, FB

Facebook

$189.62

0.81 (0.43%)

18:26
10/16/19
10/16
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18:26
Hot Stocks
Salesforce CEO: Steve Jobs had a huge impact on my life »

In an interview on…

CRM

Salesforce

$146.96

-5.89 (-3.85%)

FB

Facebook

$189.62

0.81 (0.43%)

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03/06/13
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NFLX

Netflix

$286.83

2.59 (0.91%)

18:19
10/16/19
10/16
18:19
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Hot Stocks
Netflix to test mobile only plans in other markets »

Says will test mobile…

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  • 16

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MESO

Mesoblast

$6.04

-0.03 (-0.49%)

, LZAGY

Lonza

$0.00

(0.00%)

18:18
10/16/19
10/16
18:18
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18:18
Hot Stocks
Mesoblast, Lonza enter into manufacture agreement of remestemcel-L in U.S. »

Mesoblast (MESO) and…

MESO

Mesoblast

$6.04

-0.03 (-0.49%)

LZAGY

Lonza

$0.00

(0.00%)

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NFLX

Netflix

$286.83

2.59 (0.91%)

18:12
10/16/19
10/16
18:12
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18:12
Hot Stocks
Neflix says price increase responsible for U.S. shortfall »

Says price increase…

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  • 16

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STLD

Steel Dynamics

$28.83

-1.29 (-4.28%)

18:06
10/16/19
10/16
18:06
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18:06
Hot Stocks
Steel Dynamics CEO says steel pricing environment 'challenging' »

"Our third quarter…

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  • 17

    Oct

NFLX

Netflix

$286.83

2.59 (0.91%)

18:06
10/16/19
10/16
18:06
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18:06
Hot Stocks
Netflix says price increases 'hugely' revenue positive »

Says Q3 was a…

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  • 16

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DLPN

Dolphin Entertainment

$0.79

(0.00%)

18:05
10/16/19
10/16
18:05
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18:05
Syndicate
Dolphin Entertainment offers to sell common stock, no amount given »

Maxim Group LLC is acting…

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STLD

Steel Dynamics

$28.83

-1.29 (-4.28%)

18:03
10/16/19
10/16
18:03
10/16/19
18:03
Hot Stocks
Steel Dynamics says 'constructive' on 2020 North American steel market dynamics »

"Based on domestic…

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  • 17

    Oct

STLD

Steel Dynamics

$28.83

-1.29 (-4.28%)

18:01
10/16/19
10/16
18:01
10/16/19
18:01
Earnings
Steel Dynamics reports Q3 EPS 69c, consensus 70c »

Reports Q3 revenue $2.5B,…

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  • 17

    Oct

ISTR

Investar Holding

$23.98

0.08 (0.33%)

18:01
10/16/19
10/16
18:01
10/16/19
18:01
Hot Stocks
Investar Holding gains regulatory, holder approvals for Bank of York acquisition »

Investar Holding…

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  • 13

    Nov

CSX

CSX

$68.99

-0.18 (-0.26%)

17:57
10/16/19
10/16
17:57
10/16/19
17:57
Hot Stocks
CSX reverses in after-hours, trading up over 4% »

Shares of CSX are now up…

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  • 16

    Oct

  • 13

    Nov

EGO

Eldorado Gold

$7.40

0.175 (2.42%)

17:50
10/16/19
10/16
17:50
10/16/19
17:50
Hot Stocks
Eldorado Gold reports Q3 preliminary gold production of 101,596 oz. »

Eldorado Gold reported…

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  • 01

    Nov

BHP

BHP Group

$48.17

-0.51 (-1.05%)

17:38
10/16/19
10/16
17:38
10/16/19
17:38
Hot Stocks
BHP Group backs FY20 iron ore output view of 242-253 MT »

Backs FY20 petroleum…

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  • 18

    Feb

PEGI

Pattern Energy

$26.14

-0.26 (-0.98%)

17:37
10/16/19
10/16
17:37
10/16/19
17:37
Downgrade
Pattern Energy rating change at Goldman Sachs »

Pattern Energy downgraded…

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  • 04

    Dec

BHP

BHP Group

$48.17

-0.51 (-1.05%)

17:35
10/16/19
10/16
17:35
10/16/19
17:35
Hot Stocks
BHP Group reports Q1 iron ore output 61MT, down 1% from last year »

Reports Q1 petroleum…

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  • 18

    Feb

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