Inovalon price target raised to $45 from $35 at SVB Leerink » 09:0907/2807/28/21
INOV, UNH, CHNG
SVB Leerink analyst…
SVB Leerink analyst Stephanie Davis Demko raised the firm's price target on Inovalon (INOV) to $45 from $35 and keeps an Outperform rating on the shares. The analyst notes that shares were up on a Bloomberg news report that private equity firm Nordic Capital is in advanced talks to acquire Inovalon. While the article noted that a final agreement has not been reached, Demko believes a deal is likely as he has viewed Inovalon as the most likely takeout candidate in the health tech space since the UnitedHealth (UNH)/Change Healthcare (CHNG) announcement.
|Over a month ago|
Change Healthcare reports Q4 adjusted EPS 42c, consensus 36c » 16:0505/2605/26/21
Reports Q4 revenue…
Reports Q4 revenue $855.2M, consensus $840.15M. "The fourth quarter performance demonstrates the execution of our growth strategy, delivering on our financial objectives while continuing to make investments to support our customers and employees, and advance our capabilities," said Neil de Crescenzo, president and chief executive officer. "As we enter fiscal 2022, we remain focused on delivering the next phase of growth by advancing our technology-first approach to innovation and further integrating our diverse capabilities to advance connectivity, enhance efficiency, and drive better experiences and outcomes throughout the healthcare industry."
|Over a quarter ago|
Change Healthcare assumed with a Neutral at JPMorgan » 07:2304/2904/29/21
JPMorgan analyst Anne…
JPMorgan analyst Anne Samuel assumed coverage of Change Healthcare with a Neutral rating and $25.75 price target. The analyst recommends names in the Healthcare IT space that are "well positioned around the shift to the consumer with fundamental market drivers and differentiated offerings," while positioning away from the electronic medical record space "which faces market maturation." Phreesia (PHR) and Progyny (PGNY) are her favorite ways to play the space.
Change Healthcare shareholders vote to approve OptumInsight combination » 07:1804/1404/14/21
Change Healthcare (CHNG)…
Change Healthcare (CHNG) announced that during a special meeting, Change Healthcare stockholders voted to approve the previously announced combination with OptumInsight, part of UnitedHealth (UNH). Of the approximately 222M shares voted at yesterday's special meeting of stockholders, 99.9% voted in favor of the adoption of the merger agreement.
Change Healthcare in pact with AWS for DSaaS offering » 07:2403/0903/09/21
Change Healthcare (CHNG)…
Change Healthcare (CHNG) announced a new collaboration with Amazon (AMZN) Web Services to better assess and improve the effectiveness of interventions and therapies, particularly for underserved and vulnerable populations. The new Data Science as a Service, DSaaS, offering provides de-identified claims data, enhanced with social determinants of health, enabling security and tailored for individual customers seeking to develop and deploy compliant health analytics at scale. Historically, the process of using regulated health data with social determinants is manual, slow, and fraught with compliance challenges. Leveraging the agility, scale, and security of AWS, DSaaS will address those problems by pre-integrating data and deploying automated software that consistently monitors adherence to privacy/compliance obligations to make patient-level integration of de-identified claims, SDOH, behavioral health, and other novel data practical and timely. "As much as 80% of our health and well-being is affected by social determinants, such as whether someone can access or afford medical care, their level of healthcare literacy, their access to transportation, and their food and housing vulnerabilities," said Tim Suther, senior vice president of Data Solutions at Change Healthcare. "Traditional comparative research fails to effectively account for these inequities. By integrating data beyond the clinical setting-in a way that supports privacy-we can understand how diverse life circumstances affect treatment efficacy. That understanding is key in improving outcomes and healthcare economics." The Duke University School of Medicine uses DSaaS to explore differences in COVID-19 disease progression as a function of pre-existing conditions and various interventions for different ethnic and socio-economic subgroups. "Our work on COVID-19 highlights how comparative effectiveness research needs to better incorporate ethnicity and social determinants of health to truly assess the real impact of therapies and interventions," says Michael Pencina, vice dean for Data Science and Information Technology at Duke University School of Medicine.
Change Healthcare downgraded to Neutral on buyout at JPMorgan » 05:4602/1002/10/21
JPMorgan analyst Lisa…
JPMorgan analyst Lisa Gill downgraded Change Healthcare to Neutral from Overweight with a price target of $25.75, up from $18, following the announcement that the company will be acquired by OptumInsight, which is part of UnitedHealth Group (UNH).
Change Healthcare downgraded to Neutral from Overweight at JPMorgan » 04:4202/1002/10/21
JPMorgan analyst Lisa…
JPMorgan analyst Lisa Gill downgraded Change Healthcare to Neutral from Overweight with a $25.75 price target.
Change Healthcare no longer providing financial guidance, citing proposed merger » 16:1002/0302/03/21
As previously reported on…
As previously reported on January 5, 2021, OptumInsight, part of UnitedHealth Group (UNH), and Change Healthcare (CHNG) agreed to combine. Under the terms of the merger agreement, Optum, through a wholly-owned subsidiary, will acquire all of the outstanding shares of Change Healthcare common stock for $25.75 per share in cash. The merger is expected to be completed in the second half of 2021 and is subject to applicable regulatory approval and other customary closing conditions. Due to the recently proposed merger, Change said it will no longer be providing financial guidance.
Change Healthcare reports Q3 adjusted EPS 34c, consensus 30c » 16:0802/0302/03/21
Reports Q3 revenue…
Reports Q3 revenue $785.1M, consensus $783.86M. "Our third quarter results demonstrate the strength of the Change Healthcare platform, and our ability to execute well on our growth strategy and financial objectives while navigating the pandemic. During the quarter we saw continued demand across our platform. By advancing connectivity and driving innovation we have established a strong foundation to accelerate the delivery of the innovations and efficiencies essential to a brighter future for health care," said Neil de Crescenzo, president and CEO.
Notable companies reporting after market close » 14:0702/0302/03/21
PYPL, QCOM, KLAC, MET, ALGN, CTSH, EBAY, ALL, AFL, CTVA, QRVO, IAC, ANGI, CHNG, GRUB, ELF
Notable companies reporting after the market close, with earnings consensus, include PayPal (PYPL), consensus $1... QUALCOMM (QCOM), consensus $2.10... KLA Corp. (KLAC), consensus $3.19... MetLife (MET), consensus $1.52... Align Technology (ALGN), consensus $2.14... Cognizant (CTSH), consensus 90c... eBay (EBAY), consensus 83c... Allstate (ALL), consensus $3.81... Aflac (AFL), consensus $1.05... Corteva (CTVA), consensus (5c)... Qorvo (QRVO), consensus $2.68... IAC (IAC), consensus (67c)... ANGI Homeservices (ANGI), consensus (2c)... Change Healthcare (CHNG), consensus 30c... Grubhub (GRUB), consensus 5c... e.l.f. Beauty (ELF), consensus 24c.