Morgan Stanley analyst Terence Flynn maintains Merck & Co (NYSE:MRK) with a Equal-Weight and raises the price target from $115 to $118.
Morgan Stanley raises Merck & Co (NYSE:MRK) price target from $115 to $118 Read Post »
Wells Fargo analyst Stephen Baxter maintains HCA Healthcare (NYSE:HCA) with a Equal-Weight and lowers the price target from $267 to $254.
Wells Fargo lowers HCA Healthcare (NYSE:HCA) price target from $267 to $254 Read Post »
Wells Fargo analyst Stephen Baxter maintains Centene (NYSE:CNC) with a Equal-Weight and raises the price target from $71 to $74.
Wells Fargo raises Centene (NYSE:CNC) price target from $71 to $74 Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We maintain our 12-month target price at $124, 14.8x our 2024 EPS, a discount to MRK’s 10-year historical forward P/E average. We increase our 2023 EPS estimate to $3.17 from $2.96 and retain 2024’s at $8.39. MRK reported a Q3 EPS of $2.13 vs. $1.85 (+15% Y/Y), $0.18 above the S&P Capital IQ consensus and $0.21 above our estimate. Q3 revenues of $16B increased by 7% Y/Y, a remarkable $689M above the consensus estimate and $832M above our forecast. This was driven by much higher-than-anticipated Lagevrio sales growth, the antiviral used to treat Covid-19 (+47% Y/Y, $640M), and strong Keytruda (the blockbuster oncology drug) sales performance (+17% Y/Y, $6.3B). The Animal Health segment returned to growth this quarter (+2% Y/Y, 9% of total sales), driven by the
CFRA Retains Buy Opinion On Shares Of Merck Co., Inc. Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our target at $61, 26.5x our 2024 EPS estimate, a premium to BSX’s historical forward average due to our expectations for accelerating growth. We lift our 2023 EPS estimate by $0.07 to $2.03 and 2024’s by $0.08 to $2.30. BSX posted Q3 EPS of $0.50 vs. $0.43 (+16% Y/Y), $0.02 above the consensus and $0.04 above our estimate. Q3 revenue of $3.6B was up a solid 11% Y/Y, or 10% organically, $50M above consensus and $135M above our estimates, again exceeding the high end of the organic guidance range of 7%-9%. Sales growth was broad-based in the 9%-22% range across geographies and business segments, with the exception of Neuromodulation, which saw slower growth (+3.7% Y/Y). Endoscopy (+12.6% Y/Y), Peripheral Interventions (+12.3% Y/Y), and the core
CFRA Retains Buy Opinion On Shares Of Boston Scientific Corporation Read Post »
Boston Scientific Corporation (NYSE:BSX) Q3 2023 Earnings Conference Call October 26, 2023 8:00 AM ET Company Participants Mike Mahoney – Chairman & CEO Dan Brennan – EVP & CFO Dr. Ken Stein – SVP & Global CMO Lauren Tengler – VP, IR Conference Call Participants Robbie Marcus – J.P. Morgan Joanne Wuensch – Citibank Rick Wise – Stifel Vijay Kumar – Evercore ISI Larry Biegelsen – Wells Fargo Securities Travis Steed – Bank of America Securities Danielle Antalffy – UBS Matt Taylor – Jefferies Josh Jennings – TD Cowen Chris Pasquale – Nephron Research Mike Polark – Wolfe Research Matthew O’Brien – Piper Sandler Operator Good day, and welcome to the Boston Scientific Third Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please also note, this event is being recorded. I
Boston Scientific Corporation (BSX) Q3 2023 Earnings Call Transcript Read Post »
Thermo Fisher Scientific (NYSE: TMO) Reports Q3 EPS $5.69, vs. Street Est of $5.61.
Thermo Fisher Scientific (NYSE: TMO) Reports Q3 EPS $5.69, vs. Street Est of $5.61 Read Post »
Thermo Fisher Scientific Reports Third Quarter 2023 Results WALTHAM, Mass.—-October 25, 2023– Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today reported its financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights — Third quarter revenue was $10.57 billion, 1% lower versus the same quarter last year. Core organic revenue growth was 1%. — Third quarter GAAP diluted earnings per share (EPS) was $4.42, 17% higher versus the same quarter last year, driven by 160 basis points of operating margin expansion. — Third quarter adjusted EPS was $5.69, 12% higher versus the same quarter last year, driven by 200 basis points of adjusted operating margin expansion. — The impact of the macroeconomic conditions that the industry has experienced through the year increased in the third quarter. Our PPI Business System and strong execution by our global team enabled the company to
Thermo Fisher Scientific (NYSE: TMO) Reports Third Quarter 2023 Results Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month target $34 to $270, reflecting a 2024 P/E of 13.3x vs. three- and five-year averages of 12.8x and 12.2x, respectively. We raise our 2023 adj. EPS view by $0.18 to $18.36 and raise 2024’s by $0.35 to $20.28. Q3 adj. EPS of $3.91 vs. $3.91 missed consensus by $0.06. The adj. EBITDA margin fell to 17.8% from 19.4% in Q3 2022, negatively impacted by weaker results from its Valesco joint venture, which the company expects will continue posing headwinds in the coming quarters. Accordingly, HCA’s 2023 adj. EBITDA margin guidance midpoint dropped to 19.45% from 19.60%. We think this somewhat overshadowed what was otherwise a strong quarter in terms of underlying hospital volume growth and containment of inflationary wage costs. On a same-facility
CFRA Maintains Buy Opinion On Shares Of Hca Healthcare, Inc. Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target price by $1 to $76, reflecting an 11.4x multiple of our 2024 EPS estimate (down by $0.02 to $6.68), a small discount to CNC’s five-year forward average of 11.8x. We raise our 2023 EPS forecast by $0.09 to $6.60. CNC reported Q3 adjusted EPS of $2.00 vs. $1.30, far above the $1.52 consensus forecast. Revenue of $38.0B rose 6.1% Y/Y, with the Marketplace business rising to over 3.6M members vs. 2.1M as of the prior-year quarter. The health benefits ratio (HBR) of 87.0% was in line with Q2 and down from 88.3% in Q3 2022, reflecting Marketplace growth (a lower HBR segment). With ongoing effects from redetermination, total Medicaid membership fell 2.9% Y/Y, though CNC left its guidance unchanged for a 10%-15%
CFRA Maintains Hold Opinion On Shares Of Centene Corporation Read Post »
HCA Healthcare Sees FY Rev $63.25B-$64.75B.
HCA Healthcare Sees FY Rev $63.25B-$64.75B Read Post »
HCA Healthcare Reports Third Quarter 2023 Results Revises 2023 Guidance NASHVILLE, Tenn.–October 24, 2023– HCA Healthcare, Inc. (NYSE: HCA) today announced financial and operating results for the third quarter ended September 30, 2023. Key third quarter metrics (all percentage changes compare 3Q 2023 to 3Q 2022 unless otherwise noted): — Revenues totaled $16.213 billion — Net income attributable to HCA Healthcare, Inc. totaled $1.079 billion, or $3.91 per diluted share — Adjusted EBITDA totaled $2.880 billion — Cash flows from operating activities totaled $2.479 billion — Same facility admissions increased 3.4 percent while same facility equivalent admissions increased 4.1 percent “During the quarter, most aspects of our business were positive, including continued solid demand for our services, which translated into strong revenue growth. However, our results were unfavorably impacted by our Valesco physician staffing joint venture, which performed below our expectations,” said Sam Hazen, Chief Executive Officer of HCA Healthcare.
HCA Healthcare Reports Third Quarter 2023 Results Read Post »