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JNJ

Johnson & Johnson

$128.73

0.445 (0.35%)

, CAH

Cardinal Health

$43.11

-0.06 (-0.14%)

14:53
09/03/19
09/03
14:53
09/03/19
14:53

Judge rules J&J, Cardinal Health must face cities' opioid claims, Bloomberg says

The ruling paves the way for the first U.S. trial over the opioid conspiracy claims, according to Bloomberg.

JNJ

Johnson & Johnson

$128.73

0.445 (0.35%)

CAH

Cardinal Health

$43.11

-0.06 (-0.14%)

  • 04

    Sep

  • 09

    Sep

  • 16

    Sep

  • 01

    Oct

  • 15

    Oct

JNJ Johnson & Johnson
$128.73

0.445 (0.35%)

08/27/19
LEHM
08/27/19
NO CHANGE
Target $140
LEHM
Equal Weight
Barclays views J&J ruling as favorable, keeps Equal Weight rating
The $572M ruling last night against Johnson & Johnson is far less than the $17.2B Oklahoma was asking for and less than what the market was bracing for, Barclays analyst Kristen Stewart tells investors in a research note. As such, the analyst views the ruling favorably and believes it could ultimately be lower following J&J's appeal. However, litigation has and is likely to remain an overhang for the stock, says the analyst. She keeps an Equal Weight rating on shares of Johnson & Johnson with a $140 price target.
08/27/19
WELS
08/27/19
NO CHANGE
WELS
Outperform
Opioid ruling should assuage Johnson & Johnson investor fears, says Wells Fargo
Wells Fargo analyst Larry Biegelsen thinks decision in Oklahoma is a net positive for Johnson & Johnson in that the amount the judge ordered the company to pay - $572M - was well below the amount the plaintiffs requested - $17.5B. Further, the analyst notes that the amount was for abatement of the entire opioid crisis in Oklahoma, not just Johnson & Johnson's share of it, which seems like something the company should be able to overturn or reduce on appeal. Although J&J plans to appeal the ruling, Biegelsen expects the company to eventually settle this and other opioid cases. Big picture, he estimates Johnson & Johnson will eventually settle the opioid litigation for between $5B-10B payable over several years which admittedly is a rough guess at this time. He has an Outperform rating on the shares.
08/27/19
JPMS
08/27/19
NO CHANGE
JPMS
Neutral
Johnson & Johnson verdict well below feared worst case, says JPMorgan
The $572M verdict against Johnson & Johnson in Oklahoma came in well below the feared worst case, as investor expectations for the verdict increased over the past few weeks to over $1B, JPMorgan analyst Chris Schott tells investors in a research note. Further, the analyst believes the company has "strong legal grounding" to potentially overturn and/or reduce the verdict. Nonetheless, Schott still sees a more balanced risk/reward near-term for J&J shares and remain on the sidelines with a Neutral rating.
08/27/19
FBCO
08/27/19
NO CHANGE
Target $156
FBCO
Outperform
Opioid ruling reduces uncertainty, helps J&J move higher, says Credit Suisse
Credit Suisse analyst Matt Miksic notes that Johnson & Johnson appeared to react favorably to Oklahoma opioid ruling, due in part, to the $572M penalty being substantially lower than the $17B sought by State prosecutors. The analyst believes the decision helped reduce the range of uncertainty related to the potential opioid-related liability Johnson & Johnson could face, specifically in Oklahoma, if not across the U.S. more broadly. Miksic reiterates an Outperform rating and $156 target on the shares.
CAH Cardinal Health
$43.11

-0.06 (-0.14%)

08/20/19
GUGG
08/20/19
UPGRADE
GUGG
Buy
Cardinal Health upgraded to Buy from Neutral at Guggenheim
08/27/19
ARGS
08/27/19
DOWNGRADE
ARGS
Hold
Cardinal Health downgraded to Hold from Buy at Argus
08/27/19
08/27/19
DOWNGRADE

Hold
Cardinal Health downgraded to Hold from Buy at Argus
As previously reported, Argus analyst David Toung downgraded Cardinal Health to Hold, saying the margins of its Pharmaceutical Distribution segment remain under pressure entering FY20 after a 23bps contraction in FY19. The analyst cites the management's expectations of margins in this segment declining by high single to low double digits this year because of the pricing of renewal contracts and higher legal expenses related to opioid litigation. Toung adds that he is also concerned with Cardinal Health's sluggish growth in the Medical segment because of the higher operating expenses coming from the integration of Cordis acquisition.
08/27/19
08/27/19
DOWNGRADE

Fly Intel: Top analyst downgrades
Catch up on today's top analyst downgrades with this list compiled by The Fly: 1. Cardinal Health (CAH) downgraded to Hold from Buy at Argus with analyst David Toung saying the margins of its Pharmaceutical Distribution segment remain under pressure entering FY20 after a 23bps contraction in FY19. 2. Red Robin (RRGB) downgraded to Underperform from Neutral at BofA/Merrill with analyst Gregory Francfort saying he believes the company's earnings growth will "materially miss" consensus expectations in 2020. 3. T-Mobile (TMUS) downgraded to Perform from Outperform at Oppenheimer. 4. Ultrapar (UGP) downgraded to Hold from Buy at Santander. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

AKAM

Akamai

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-0.13 (-0.14%)

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DB

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PRVB

Provention Bio

$9.70

0.33 (3.52%)

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DRI

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$127.40

1.31 (1.04%)

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XGN

Exagen

$0.00

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  • 19

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PING

Ping Identity

$0.00

(0.00%)

19:35
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Syndicate
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  • 19

    Sep

CBS

CBS

$43.38

0.08 (0.18%)

, T

AT&T

$36.77

-0.39 (-1.05%)

19:04
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19:04
Periodicals
Viacom, CBS, WarnerMedia pull e-cigarette ads from networks, CNBC says »

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CBS

CBS

$43.38

0.08 (0.18%)

T

AT&T

$36.77

-0.39 (-1.05%)

VIA

Viacom

$27.94

-0.06 (-0.21%)

VIAB

Viacom

$25.77

0.02 (0.08%)

BTI

British American Tobacco

$36.90

0.06 (0.16%)

MO

Altria Group

$40.84

-0.47 (-1.14%)

PM

Philip Morris

$71.58

-0.4 (-0.56%)

IMBBY

Imperial Brands

$0.00

(0.00%)

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  • 23

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CRON

Cronos Group

$10.96

-0.205 (-1.84%)

18:57
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Cronos Group CEO: We focus on supply and the consumer »

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MLHR

Herman Miller

$44.48

-0.02 (-0.04%)

, SVRA

Savara

$2.49

-0.14 (-5.32%)

18:46
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UP AFTER EARNINGS: …

MLHR

Herman Miller

$44.48

-0.02 (-0.04%)

SVRA

Savara

$2.49

-0.14 (-5.32%)

CBPO

China Biologic

$103.19

0.37 (0.36%)

NCR

NCR Corp.

$33.62

0.77 (2.34%)

MSFT

Microsoft

$138.53

1.13 (0.82%)

TNDM

TNDM

X

U.S. Steel

$12.45

-0.51 (-3.94%)

PRVB

Provention Bio

$9.70

0.33 (3.52%)

PAA

Plains All American

$21.87

-0.315 (-1.42%)

COST

Costco

$292.47

0.96 (0.33%)

03/08/13
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    Sep

TECD

Tech Data

$103.32

-0.59 (-0.57%)

18:41
09/18/19
09/18
18:41
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18:41
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Tech Data CEO: We are confident in our company and where we are going »

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T

AT&T

$36.77

-0.39 (-1.05%)

, DISH

Dish

$35.58

0.3 (0.85%)

18:34
09/18/19
09/18
18:34
09/18/19
18:34
Periodicals
AT&T, Dish not in discussions over DirecTV deal, Reuters reports »

AT&T (T) and Dish…

T

AT&T

$36.77

-0.39 (-1.05%)

DISH

Dish

$35.58

0.3 (0.85%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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  • 23

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AGCO

Agco

$76.04

-0.16 (-0.21%)

18:30
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PBR

Petrobras

$14.63

-0.31 (-2.08%)

18:22
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18:22
Periodicals
Petrobras raises gasoline, diesel prices in wake of Saudi attacks, Reuters says »

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CE

Celanese

$123.69

-0.28 (-0.23%)

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STI

SunTrust

$68.57

0.48 (0.70%)

18:00
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WBS

Webster Financial

$48.84

0.43 (0.89%)

17:53
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Hot Stocks
Webster Financial lowers prime lending rate to 5.0% from 5.25% 

Effective September 19.

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  • 18

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HSBC

HSBC

$38.19

-0.1 (-0.26%)

17:52
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Hot Stocks
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  • 27

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HES

Hess Corp.

$66.91

-0.92 (-1.36%)

17:50
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Hot Stocks
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  • 01

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CSCO

Cisco

$49.32

-0.1 (-0.20%)

, DDOG

Datadog

$0.00

(0.00%)

17:46
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Periodicals
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CSCO

Cisco

$49.32

-0.1 (-0.20%)

DDOG

Datadog

$0.00

(0.00%)

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  • 10

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  • 19

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ASB

Associated Banc-Corp

$20.23

0.075 (0.37%)

17:46
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09/18
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Hot Stocks
Associated Banc-Corp lowers prime rate to 5.0% from 5.25% 

Effective September 19.

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GLD

SPDR Gold Shares

$140.69

-0.93 (-0.66%)

17:45
09/18/19
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Hot Stocks
SPDR Gold Shares holdings rise to 883.60MT from 880.37MT »

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T

AT&T

$36.77

-0.39 (-1.05%)

, DISH

Dish

$35.58

0.3 (0.85%)

17:44
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09/18
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Periodicals
AT&T exploring options to part with DirecTV unit, WSJ says »

AT&T (T) is looking…

T

AT&T

$36.77

-0.39 (-1.05%)

DISH

Dish

$35.58

0.3 (0.85%)

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  • 23

    Sep

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    Oct

CBPO

China Biologic

$103.19

0.37 (0.36%)

17:43
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Hot Stocks
China Biologic up 7% after receiving 'going private' proposal for $120 per share »

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T

AT&T

$36.77

-0.39 (-1.05%)

, DISH

Dish

$35.58

0.3 (0.85%)

17:42
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Hot Stocks
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AT&T

$36.77

-0.39 (-1.05%)

DISH

Dish

$35.58

0.3 (0.85%)

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  • 23

    Sep

  • 23

    Oct

GSK

GlaxoSmithKline

$41.06

-0.04 (-0.10%)

17:41
09/18/19
09/18
17:41
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17:41
Periodicals
FDA panel recommends approval of GSK's nicotine oral spray, Reuters says »

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