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STIM

Neuronetics

$12.65

-0.2 (-1.56%)

, UNH

UnitedHealth

$264.60

-1.31 (-0.49%)

16:18
07/16/19
07/16
16:18
07/16/19
16:18

UnitedHealth coverage decision positive for Neuronetics, says Piper Jaffray

UnitedHealth (UNH) recently issued a coverage decision stating that theta burst TMS has been deemed "unproven and not medically necessary," which will make obtaining reimbursement from the insurer more difficult in the future for theta burst providers, Piper Jaffray analyst Matt O'Brien tells investors in a research note. This would specifically impact MagVentures, which has been mentioned frequently as a key competitor to monitor for Neuronetics (STIM), adds the analyst. The analyst says that with no changes to the reimbursement pathway for Neuronetics in the coverage update, he views the news as incrementally positive for the company as it competes in the theta-burst stimulation category for major depressive disorder patients. O'Brien reiterates an Overweight rating on Neuronetics and continues to view the name as his favorite small cap idea.

STIM

Neuronetics

$12.65

-0.2 (-1.56%)

UNH

UnitedHealth

$264.60

-1.31 (-0.49%)

  • 18

    Jul

STIM Neuronetics
$12.65

-0.2 (-1.56%)

07/02/19
PIPR
07/02/19
NO CHANGE
Target $28
PIPR
Overweight
Piper reiterates Overweight on Neuronetics, says CFO transition 'innocuous'
Piper Jaffray analyst Matt O'Brien believes Neuronetics found a "suitable replacement" in Stephen Furlong as the company's CFO. Management emphasized that the transition was solely for personal reasons and that there will be no changes to guidance, O'Brien tells investors in a research after speaking to the company. He reiterates an Overweight rating on the shares with a $28 price target. The analyst tells investors to "not over-read" the lack of guidance commentary in the announcement and that the CFO transition is " innocuous." O'Brien continues to believe shares of Neuronetics can work from here.
06/18/19
PIPR
06/18/19
NO CHANGE
Target $28
PIPR
Overweight
Neuronetics reiterated as a top small cap pick at Piper Jaffray
After speaking with the company's largest customer Greenbrook TMS, Piper Jaffray analyst Matt O'Brien reiterates Neuronetics as his top small pick with an Overweight rating and $28 price target. The growth of Greenbrook does not appear to be fully reflected in Street session numbers at Neuronetics, O'Brien tells investors in a research note. Even in his most bearish scenario, the analyst sees ~$1M of upside to session numbers. However, he ultimately expect upside for Neuronetics this year to be in the $2M-$4M range. O'Brien calls the trading in the stock as "perplexing throughout 2019" and he remains a buyer of the stock.
04/09/19
PIPR
04/09/19
NO CHANGE
Target $28
PIPR
Overweight
Piper encourages investors to start positions in Neuronetics
After hosting an investor call with the management team of Greenbrook TMS, a domestic transcranial magnetic stimulation provider, Piper Jaffray analyst Matt O'Brien reiterates an Overweight rating on Neuronetics with a $28 price target. Greenbrook's goal of reaching 100-plus centers by Q1 of 2020 is on track and the company expects "robust" organic growth this year with further market development efforts, O'Brien tells investors in a research note. He points out that the majority of Greenbrook's mix is weighted towards Neuronetics' NeuroStar. Given the "variety of positives" on Neuronetics and the underlying TMS market landscape, investors "can put to bed any competitive concerns," says the analyst. He encourages investors to start positions in the name.
03/28/19
PIPR
03/28/19
NO CHANGE
Target $28
PIPR
Overweight
Neuronetics reimbursement approval ahead of expectations, says Piper Jaffray
Neuronetics last night announced Japanese reimbursement approval, ahead of second half of 2019 expectations, Piper Jaffray analyst Matt O'Brien tells investors in a research note. The announcement was "certainly a favorable update" as the company can now go after a large new market opportunity, says the analyst. After speaking with management, O'Brien says the revenue contributions from this new market opportunity should become more meaningful in 2020, and represents "pure upside" to his model. The analyst recommends investors start or build positions in Neuronetics and reiterates an Overweight rating on the stock with a $28 price target.
UNH UnitedHealth
$264.60

-1.31 (-0.49%)

07/15/19
CLVD
07/15/19
NO CHANGE
CLVD
UnitedHealth continues to gain market share, says Cleveland Research
Cleveland Research analyst Steve Willoughby said earlier today that his recent work indicates UnitedHealth continues to gain share across both the UHC and OptumRx businesses. Feedback on the upcoming Medicare Advantage Annual Election Period points to UnitedHealth likely being best positioned to lead the market in membership growth, Willoughby wrote in a research note. The analyst's Q2, 2019 and 2020 estimates are ahead of consensus and keeps a Buy rating on UnitedHealth shares.
07/15/19
GSCO
07/15/19
DOWNGRADE
Target $85
GSCO
Sell
Goldman Sachs downgrades Quest Diagnostics to Sell, cuts target to $85
Goldman Sachs analyst Patrick Donnelly downgraded Quest Diagnostics (DGX) to Sell from Neutral and lowered his price target for the shares to $85 from $90. The company remains in a flat- to low-single-digit organic growth environment which will constrain operating profit and free cash flow growth, Donnelly tells investors in a research note. Further, the analyst sees "little reason for optimism" in the near term around the UnitedHealth (UNH) Preferred Lab Network. The incentive structure to further narrow lab use is uncertain and "in-network" status is most likely to continue to dominate volume flow, says Donnelly. He sees downside risk to Quest's to out-year estimates "as the lab business struggles to grow organically."
07/11/19
SPHN
07/11/19
NO CHANGE
SPHN
Stephens raises targets for Anthem, Cigna, peers on HHS rebate rule withdrawal
Following press reports that the White House has withdrawn its proposed rule to eliminate drug rebates in Medicare/Medicaid outside point of sale, Stephens analyst Scott Fidel raised his price targets on a number of managed care stocks, calling the elimination of this key near-term overhang a "material positive event" for the MCO and PBM group. He raised his price target on Anthem (ANTM) to $350 from $335, upped his target on Cigna (CI) to $240 from $225, increased his target on Humana (HUM) to $320 from $300 and raised his target on UnitedHealth (UNH) to $290 from $270. Fidel keeps Overweight ratings on all four of those stocks. He also raised his target on Magellan Health (MGLN) to $74 from $70, though he keeps an Equal Weight rating on that stock, citing the company's softer fundamentals.
07/11/19
CHLM
07/11/19
NO CHANGE
Target $84
CHLM
Buy
Tandem Diabetes a clear beneficiary of Medtronic recall, says Craig-Hallum
Craig-Hallum analyst Alexander Nowak believes Tandem Diabetes (TNDM) and to a lesser extent Insulet (PODD) are the "clear beneficiaries" of the FDA recalling 189,000 Medtronic (MDT) 600-series pumps. The recall should further assist Tandem's share gains over the next several quarters and perhaps years, Nowak tells investors in a research note. And while UnitedHealth (UNH) has an exclusive contract with Medtronic Diabetes, the recall is further data Tandem can use to negotiate with UnitedHealth and argue for inclusion in its network, adds the analyst. He reiterates a Buy rating on shares of Tandem Diabetes with an $84 price target.

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