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JNJ

Johnson & Johnson

$128.87

0.585 (0.46%)

, CAH

Cardinal Health

$43.24

0.07 (0.16%)

15:11
09/03/19
09/03
15:11
09/03/19
15:11

Big pharma ordered to face cities' opioid claims, Bloomberg reports

U.S. District Judge Dan Polster has ruled that Johnson & Johnson (JNJ), Cardinal Health (CAH) and other makers and distributors of opioid painkillers must face lawsuits claiming they banded together to wrongfully push sales of the addictive pills, Bloomberg's Jef Feeley reports. The ruling clears the way for J&J, Cardinal Health, Walgreens (WBA) and other companies to face a federal court jury in Cleveland October 21 on claims - by more than 2,000 U.S. cities and counties - they fueled an opioid crisis that kills more than 100 Americans daily, the author notes. Reference Link

JNJ

Johnson & Johnson

$128.87

0.585 (0.46%)

CAH

Cardinal Health

$43.24

0.07 (0.16%)

WBA

Walgreens Boots Alliance

$50.41

-0.76 (-1.49%)

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JNJ Johnson & Johnson
$128.87

0.585 (0.46%)

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.
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
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
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.
CAH Cardinal Health
$43.24

0.07 (0.16%)

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.
08/20/19
GUGG
08/20/19
UPGRADE
GUGG
Buy
Cardinal Health upgraded to Buy from Neutral at Guggenheim
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.
WBA Walgreens Boots Alliance
$50.41

-0.76 (-1.49%)

06/27/19
RAJA
06/27/19
NO CHANGE
RAJA
Walgreens Boots Alliance Q3 better than expected, says Raymond James
Raymond James analyst John Ransom maintained a Market Perform rating on Walgreens Boots Alliance after the company reported Q3 earnings results that were modestly better than expected, driven by strong pharmacy sales, along with "roughly flat" FY19 guidance which the analyst believes reflects ongoing headwinds from reimbursement and market challenges.
06/28/19
FBCO
06/28/19
DOWNGRADE
Target $60
FBCO
Neutral
Walgreens Boots Alliance assumed at Neutral from Outperform at Credit Suisse
Credit Suisse analyst A.J. Rice assumed coverage of Walgreens Boots Alliance with a Neutral rating, down from the firm's prior Outperform rating, and set a $60 price target on the stock, down from the firm's prior $70 target. Rice noted that Walgreens cut its guidance for FY19 and reduced its long-term EPS growth target to the mid-to-high single digits and said he would want to see clear indications that visibility on earnings growth is improving before considering raising his rating.
06/28/19
06/28/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. 1. Walgreens Boots Alliance (WBA) downgraded to Neutral from Outperform at Credit Suisse with analyst A.J. Rice saying Walgreens cut its guidance for FY19 and reduced its long-term EPS growth target to the mid-to-high single digits and said he would want to see clear indications that visibility on earnings growth is improving before considering raising his rating. 2. Biogen (BIIB) downgraded to Neutral from Overweight at Piper Jaffray with analyst Christopher Raymond saying Piper's new neurologist survey data from Spherix Global Insights "spells bad news for both Tecfidera and Tysabri in the near and longer term." 3. Live Nation (LYV) downgraded to Sell from Neutral at Citi with analyst Jason Bazinet saying he still likes the company's growth prospects and "consistent" operating performance. 4. Arrowhead (ARWR) downgraded to Neutral from Overweight at Cantor Fitzgerald with analyst Elemer Piros saying he views the stock as fairly valued. 5. Darden (DRI) downgraded to Equal Weight from Overweight at Stephens with analyst Will Slabaugh citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/31/19
PIPR
07/31/19
NO CHANGE
Target $182
PIPR
Overweight
DexCom price target raised to $182 from $173 at Piper Jaffray
Piper Jaffray analyst JP Kim raised his price target on DexCom (DXCM) to $182 and kept his Overweight rating after its "solid" Q2 results and raised guidance. driven by the 41% U.S. revenue growth in spite of the tougher comp. The analyst is positive on the pharmacy coverage unlocking more type 2 diabetes patients, manufacturing lines preparing for the G7 Continuous Glucose Monitoring system, and its "direct to Apple (AAPL) Watch"compatibility, as well as the company's Walgreens (WBA) partnership, even though he sees tougher annual comps and a Medicare pricing headwind in Q4.

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ACA

Arcosa

$34.14

-0.4 (-1.16%)

13:43
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CYRX

Cryoport

$17.95

0.2 (1.13%)

13:40
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MDR

McDermott

$3.00

-2.88 (-48.98%)

13:40
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MDR

McDermott

$3.00

-2.88 (-48.98%)

13:40
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McDermott says 'routinely hires external advisers' to evaluate opportunities »

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MDR

McDermott

$3.00

-2.88 (-48.98%)

13:36
09/18/19
09/18
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13:36
Periodicals
McDermott hires AlixPartners to advise on turnaround, WSJ reports »

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STX

Seagate

$56.92

0.88 (1.57%)

13:35
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09/18
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13:35
Options
Seagate put volume heavy and directionally bearish »

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  • 19

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NLSN

Nielsen

$22.45

-0.13 (-0.58%)

13:34
09/18/19
09/18
13:34
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13:34
Periodicals
Nielsen acquires minority stake in brand-safety company Open Slate, WSJ reports »

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BX

Blackstone

$52.93

-0.57 (-1.07%)

13:30
09/18/19
09/18
13:30
09/18/19
13:30
Periodicals
Blackstone near $2.9B deal to buy Great Wolf Resorts, Bloomberg says »

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RUBI

Rubicon Project

$9.36

-0.05 (-0.53%)

, TLRA

Telaria

$8.03

-0.195 (-2.37%)

13:26
09/18/19
09/18
13:26
09/18/19
13:26
Recommendations
Rubicon Project, Telaria, Trade Desk analyst commentary  »

Google auction shift…

RUBI

Rubicon Project

$9.36

-0.05 (-0.53%)

TLRA

Telaria

$8.03

-0.195 (-2.37%)

TTD

Trade Desk

$209.29

-3.72 (-1.75%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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FDX

FedEx

$149.76

-23.77 (-13.70%)

13:25
09/18/19
09/18
13:25
09/18/19
13:25
Downgrade
FedEx rating change  »

FedEx downgraded to Hold…

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13:25
09/18/19
09/18
13:25
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13:25
Conference/Events
The SEC to hold a meeting to hear oral arguments »

The Commission will hear…

SOLO

ElectraMeccanica

$2.40

0.04 (1.69%)

13:24
09/18/19
09/18
13:24
09/18/19
13:24
Initiation
ElectraMeccanica initiated  »

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UN

Unilever; also tag UL

$60.45

0.01 (0.02%)

, PG

Procter & Gamble

$121.47

0.32 (0.26%)

13:23
09/18/19
09/18
13:23
09/18/19
13:23
Recommendations
Unilever; also tag UL, Procter & Gamble, Unilever; also tag UN, Reckitt Benckiser, Henkel, L'Oreal analyst commentary  »

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UN

Unilever; also tag UL

$60.45

0.01 (0.02%)

PG

Procter & Gamble

$121.47

0.32 (0.26%)

UL

Unilever; also tag UN

$61.51

0.05 (0.08%)

RBGLY

Reckitt Benckiser

$0.00

(0.00%)

HENKY

Henkel

$0.00

(0.00%)

LRLCY

L'Oreal

$0.00

(0.00%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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NRC

National Research Corporation

$63.59

1.59 (2.56%)

13:23
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09/18
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13:23
Hot Stocks
National Research Corporation director Donald Berwick sold over $433K in shares »

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FB

Facebook

$188.14

0.01 (0.01%)

, TWTR

Twitter

$42.66

-0.59 (-1.36%)

13:22
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On The Fly
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FB

Facebook

$188.14

0.01 (0.01%)

TWTR

Twitter

$42.66

-0.59 (-1.36%)

SNAP

Snap

$16.77

-0.1 (-0.59%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
09/18/19
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13:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
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09/18
13:16
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13:16
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NYSE market internals summary »

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TYL

Tyler Technologies

$259.19

-0.47 (-0.18%)

13:15
09/18/19
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13:15
Conference/Events
Tyler Technologies management to meet with Needham »

Meeting to be held in…

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BRKR

Bruker

$43.21

0.34 (0.79%)

13:14
09/18/19
09/18
13:14
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13:14
Conference/Events
Bruker management to meet with Needham »

Meetings to be held in…

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  • 23

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RST

Rosetta Stone

$18.99

-0.22 (-1.15%)

13:13
09/18/19
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13:13
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13:13
Conference/Events
Rosetta Stone management to meet with Needham »

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  • 24

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CYRX

Cryoport

$17.92

0.17 (0.96%)

13:07
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09/18
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Hot Stocks
Breaking Hot Stocks news story on Cryoport »

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CYRX

Cryoport

$17.92

0.17 (0.96%)

, GILD

Gilead

$65.78

-0.39 (-0.59%)

13:05
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09/18
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13:05
On The Fly
Meet Cryoport: A Fly exclusive interview with CEO Jerry Shelton »

In an exclusive interview…

CYRX

Cryoport

$17.92

0.17 (0.96%)

GILD

Gilead

$65.78

-0.39 (-0.59%)

NVS

Novartis

$86.46

-0.11 (-0.13%)

03/08/13
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CYRX

Cryoport

$17.92

0.17 (0.96%)

13:04
09/18/19
09/18
13:04
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13:04
Hot Stocks
Breaking Hot Stocks news story on Cryoport »

Shelton sees Cryoport…

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