Tag: Medical

Bahl & Gaynor Inc. Lowers Position in Elevance Health, Inc. (NYSE:ELV)

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Bahl & Gaynor Inc. trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 6.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 373 shares of the company’s stock after selling 26 shares during the period. Bahl & Gaynor Inc.’s holdings in Elevance Health were worth $202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank & Trust Co purchased a new position in shares of Elevance Health during the second quarter valued at about $27,000. Pin Oak Investment Advisors Inc. purchased a new position in Elevance Health during the 4th quarter valued at approximately $28,000. Palisade Asset Management LLC purchased a new position in Elevance Health during the 1st quarter valued at approximately $28,000. Opal Wealth Advisors LLC bought a new stake in Elevance Health in the 2nd quarter worth approximately $28,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Elevance Health during the 2nd quarter valued at approximately $30,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 0.4 %

NYSE:ELV opened at $545.78 on Friday. The stock has a fifty day simple moving average of $534.70 and a 200-day simple moving average of $527.40. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market cap of $126.85 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV – Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company earned $9.04 EPS. Analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.19%. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Analysts Set New Price Targets

ELV has been the topic of a number of recent research reports. TD Cowen decreased their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Bank of America restated a “neutral” rating and set a $530.00 target price (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Stephens reiterated an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a research report on Thursday, September 5th. Truist Financial upped their price objective on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company cut their target price on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $604.29.

Read Our Latest Report on ELV

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock worth $17,588,116 in the last ninety days. 0.35% of the stock is owned by company insiders.

Elevance Health Profile

(Free Report)

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.

Further Reading

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV – Free Report).

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September 13, 2024
Viking Therapeutics, Inc. (NASDAQ:VKTX) CEO Sells $69,900.00 in Stock
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Viking Therapeutics, Inc. (NASDAQ:VKTX – Get Free Report) CEO Brian Lian sold 1,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.90, for a total transaction of $69,900.00. Following the sale, the chief executive officer now owns 2,354,927 shares of the company’s stock, valued at approximately $164,609,397.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Brian Lian also recently made the following trade(s):
- On Monday, August 19th, Brian Lian sold 112,870 shares of Viking Therapeutics stock. The stock was sold at an average price of $65.80, for a total transaction of $7,426,846.00.
- On Tuesday, July 30th, Brian Lian sold 115,859 shares of Viking Therapeutics stock. The shares were sold at an average price of $57.58, for a total transaction of $6,671,161.22.
Viking Therapeutics Price Performance

Shares of NASDAQ:VKTX opened at $64.63 on Friday. The company has a 50 day moving average of $55.23 and a 200-day moving average of $61.45. Viking Therapeutics, Inc. has a one year low of $8.28 and a one year high of $99.41. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of -69.49 and a beta of 1.03.

Viking Therapeutics (NASDAQ:VKTX – Get Free Report) last released its earnings results on Wednesday, July 24th. The biotechnology company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. During the same quarter last year, the business posted ($0.19) EPS. Equities research analysts anticipate that Viking Therapeutics, Inc. will post -0.99 earnings per share for the current year.

Institutional Investors Weigh In On Viking Therapeutics

A number of institutional investors have recently made changes to their positions in VKTX. Aristides Capital LLC lifted its stake in Viking Therapeutics by 120.0% in the second quarter. Aristides Capital LLC now owns 11,000 shares of the biotechnology company’s stock valued at $583,000 after buying an additional 6,000 shares during the period. Cetera Investment Advisers grew its position in shares of Viking Therapeutics by 114.0% during the 2nd quarter. Cetera Investment Advisers now owns 49,311 shares of the biotechnology company’s stock worth $2,614,000 after buying an additional 26,270 shares during the period. Truist Financial Corp increased its stake in shares of Viking Therapeutics by 357.1% in the 2nd quarter. Truist Financial Corp now owns 26,049 shares of the biotechnology company’s stock valued at $1,381,000 after acquiring an additional 20,350 shares during the last quarter. Second Line Capital LLC acquired a new stake in shares of Viking Therapeutics in the 2nd quarter valued at approximately $1,506,000. Finally, Creative Planning raised its position in shares of Viking Therapeutics by 3.4% in the 2nd quarter. Creative Planning now owns 15,753 shares of the biotechnology company’s stock valued at $835,000 after acquiring an additional 524 shares during the period. 76.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VKTX has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Viking Therapeutics in a report on Thursday, July 25th. Truist Financial reiterated a “buy” rating and set a $120.00 price target on shares of Viking Therapeutics in a research report on Monday, June 17th. StockNews.com raised shares of Viking Therapeutics to a “sell” rating in a report on Wednesday, July 31st. Raymond James raised their price objective on shares of Viking Therapeutics from $116.00 to $118.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Finally, Maxim Group reissued a “buy” rating and set a $120.00 price target on shares of Viking Therapeutics in a research note on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.78.

View Our Latest Stock Report on VKTX

About Viking Therapeutics

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Viking Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company’s lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD.

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August 28, 2024
Hormel Introduces New Chili Formula For Mothers Who Can’t Produce Own Chili

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August 15, 2024
Fortrea’s (FTRE) Market Perform Rating Reaffirmed at William Blair

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William Blair reissued their market perform rating on shares of Fortrea (NASDAQ:FTRE – Free Report) in a research note released on Monday morning, Benzinga reports.

FTRE has been the topic of several other research reports. Robert W. Baird upgraded shares of Fortrea from a neutral rating to an outperform rating and lowered their price objective for the stock from $45.00 to $36.00 in a report on Tuesday, May 14th. Barclays started coverage on Fortrea in a research report on Wednesday, July 24th. They issued an equal weight rating and a $30.00 price target for the company. Baird R W upgraded shares of Fortrea from a hold rating to a strong-buy rating in a research report on Tuesday, May 14th. The Goldman Sachs Group began coverage on shares of Fortrea in a report on Thursday, June 6th. They issued a neutral rating and a $28.00 price target on the stock. Finally, TD Cowen initiated coverage on Fortrea in a report on Wednesday, May 29th. They issued a hold rating and a $27.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Fortrea presently has a consensus rating of Hold and an average price target of $30.50.

Read Our Latest Stock Analysis on Fortrea

Fortrea Price Performance

Shares of NASDAQ:FTRE opened at $20.04 on Monday. The firm has a 50 day simple moving average of $24.99 and a 200 day simple moving average of $31.30. The company has a market cap of $1.79 billion and a price-to-earnings ratio of -14.42. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.47 and a quick ratio of 1.47. Fortrea has a one year low of $18.07 and a one year high of $41.02.

Insider Buying and Selling

In other news, General Counsel James S. Hanson bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average cost of $25.30 per share, with a total value of $50,600.00. Following the completion of the purchase, the general counsel now directly owns 7,475 shares in the company, valued at $189,117.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Fortrea news, General Counsel James S. Hanson bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average cost of $25.30 per share, with a total value of $50,600.00. Following the completion of the purchase, the general counsel now directly owns 7,475 shares of the company’s stock, valued at $189,117.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Pike purchased 10,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were acquired at an average cost of $24.81 per share, with a total value of $248,100.00. Following the transaction, the chief executive officer now directly owns 57,827 shares in the company, valued at $1,434,687.87. The disclosure for this purchase can be found here. 0.12% of the stock is owned by corporate insiders.

Institutional Trading of Fortrea

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new stake in shares of Fortrea in the 2nd quarter worth approximately $26,000. Allworth Financial LP purchased a new stake in shares of Fortrea during the 4th quarter valued at about $28,000. Glassman Wealth Services bought a new position in Fortrea in the fourth quarter worth approximately $28,000. Gladius Capital Management LP purchased a new position in Fortrea during the second quarter valued at $30,000. Finally, Concord Wealth Partners grew its stake in shares of Fortrea by 152.8% during the 1st quarter. Concord Wealth Partners now owns 862 shares of the company’s stock valued at $35,000 after acquiring an additional 521 shares during the period.

Fortrea Company Profile

(Get Free Report)

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.

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August 13, 2024
TransMedics Group (NASDAQ:TMDX) Sets New 12-Month High Following Earnings Beat

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Shares of TransMedics Group, Inc. (NASDAQ:TMDX – Get Free Report) reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $171.98 and last traded at $161.33, with a volume of 740111 shares trading hands. The stock had previously closed at $142.26.

The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.14. TransMedics Group had a net margin of 0.84% and a return on equity of 17.37%. The company had revenue of $114.30 million during the quarter, compared to the consensus estimate of $98.84 million. During the same period last year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was up 117.7% on a year-over-year basis.

Analyst Ratings Changes

TMDX has been the subject of a number of research reports. Oppenheimer lifted their price target on shares of TransMedics Group from $125.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Piper Sandler raised their price objective on shares of TransMedics Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley raised their price objective on shares of TransMedics Group from $104.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Stephens raised their price objective on shares of TransMedics Group from $151.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Canaccord Genuity Group raised their price objective on shares of TransMedics Group from $117.00 to $169.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $166.88.

Read Our Latest Research Report on TransMedics Group

Insiders Place Their Bets

In other news, CEO Waleed H. Hassanein sold 8,625 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $145.17, for a total transaction of $1,252,091.25. Following the completion of the sale, the chief executive officer now directly owns 61,643 shares of the company’s stock, valued at approximately $8,948,714.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Stephen Gordon sold 15,000 shares of TransMedics Group stock in a transaction on Monday, May 6th. The shares were sold at an average price of $128.00, for a total transaction of $1,920,000.00. Following the transaction, the chief financial officer now owns 23,299 shares in the company, valued at approximately $2,982,272. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Waleed H. Hassanein sold 8,625 shares of TransMedics Group stock in a transaction on Monday, July 15th. The shares were sold at an average price of $145.17, for a total transaction of $1,252,091.25. Following the transaction, the chief executive officer now owns 61,643 shares in the company, valued at approximately $8,948,714.31. The disclosure for this sale can be found here. In the last three months, insiders sold 101,342 shares of company stock valued at $13,642,015. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On TransMedics Group

Several hedge funds and other institutional investors have recently made changes to their positions in TMDX. Vanguard Group Inc. lifted its holdings in TransMedics Group by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,814,442 shares of the company’s stock worth $99,341,000 after buying an additional 29,798 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in TransMedics Group by 10.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 397,283 shares of the company’s stock worth $31,358,000 after buying an additional 38,951 shares in the last quarter. Moody Aldrich Partners LLC lifted its holdings in TransMedics Group by 110.3% in the 4th quarter. Moody Aldrich Partners LLC now owns 46,312 shares of the company’s stock worth $3,655,000 after buying an additional 24,290 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new position in TransMedics Group in the 4th quarter worth $500,000. Finally, Russell Investments Group Ltd. lifted its holdings in TransMedics Group by 337,462.5% in the 1st quarter. Russell Investments Group Ltd. now owns 27,005 shares of the company’s stock worth $1,997,000 after buying an additional 26,997 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

TransMedics Group Price Performance

The business’s fifty day simple moving average is $144.02 and its 200 day simple moving average is $111.05. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of -441.47 and a beta of 1.99. The company has a debt-to-equity ratio of 3.18, a quick ratio of 8.76 and a current ratio of 9.72.

About TransMedics Group

(Get Free Report)

TransMedics Group, Inc, a commercial-stage medical technology company, engages in transforming organ transplant therapy for end-stage organ failure patients in the United States and internationally. The company offers Organ Care System (OCS), a portable organ perfusion, optimization, and monitoring system that utilizes its proprietary and customized technology to replicate near-physiologic conditions for donor organs outside of the human body.

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August 2, 2024
ICON Public (NASDAQ:ICLR) Given New $350.00 Price Target at Barclays

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ICON Public (NASDAQ:ICLR – Free Report) had its target price decreased by Barclays from $355.00 to $350.00 in a report issued on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the medical research company’s stock.

Several other research firms have also issued reports on ICLR. Truist Financial lifted their price objective on ICON Public from $367.00 to $383.00 and gave the company a buy rating in a research note on Friday. Robert W. Baird lifted their price objective on ICON Public from $367.00 to $376.00 and gave the company an outperform rating in a research note on Monday, July 8th. Mizuho reissued a buy rating and set a $346.00 price objective on shares of ICON Public in a research note on Thursday, April 4th. Evercore ISI dropped their price objective on ICON Public from $350.00 to $330.00 and set an outperform rating for the company in a research note on Friday, April 26th. Finally, The Goldman Sachs Group initiated coverage on ICON Public in a research note on Thursday, June 6th. They set a buy rating and a $370.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $352.56.

View Our Latest Stock Analysis on ICON Public

ICON Public Price Performance

ICON Public stock opened at $323.46 on Friday. ICON Public has a one year low of $221.20 and a one year high of $347.72. The business has a fifty day moving average price of $322.17 and a 200-day moving average price of $309.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.31 and a quick ratio of 1.21. The firm has a market capitalization of $26.69 billion, a P/E ratio of 39.35, a PEG ratio of 1.44 and a beta of 1.23.

ICON Public (NASDAQ:ICLR – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.07. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.14 billion. ICON Public had a return on equity of 12.06% and a net margin of 8.57%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the company earned $2.96 earnings per share. As a group, equities research analysts forecast that ICON Public will post 14.57 EPS for the current year.

Institutional Investors Weigh In On ICON Public

Several hedge funds have recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC purchased a new position in shares of ICON Public in the fourth quarter worth about $416,000. Pinnacle Bancorp Inc. increased its holdings in shares of ICON Public by 110.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 105 shares of the medical research company’s stock worth $30,000 after buying an additional 55 shares during the period. Cullen Investment Group LTD. purchased a new position in shares of ICON Public in the fourth quarter worth about $1,620,000. Groesbeck Investment Management Corp NJ increased its holdings in shares of ICON Public by 15.3% in the fourth quarter. Groesbeck Investment Management Corp NJ now owns 2,186 shares of the medical research company’s stock worth $619,000 after buying an additional 290 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its holdings in shares of ICON Public by 50.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 74,820 shares of the medical research company’s stock worth $21,179,000 after buying an additional 25,160 shares during the period. Institutional investors own 95.61% of the company’s stock.

ICON Public Company Profile

(Get Free Report)

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.

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July 29, 2024
Trump On Accepting Nomination: ‘This Is Boring, I’m So Bored’
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July 18, 2024
Johnson & Johnson (NYSE:JNJ) is Tweedy Browne Co LLC’s 3rd Largest Position

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Tweedy Browne Co LLC cut its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,133,725 shares of the company’s stock after selling 1,393 shares during the quarter. Johnson & Johnson makes up approximately 8.4% of Tweedy Browne Co LLC’s portfolio, making the stock its 3rd largest holding. Tweedy Browne Co LLC’s holdings in Johnson & Johnson were worth $179,344,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of JNJ. Pathway Financial Advisors LLC raised its position in shares of Johnson & Johnson by 4.3% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after buying an additional 226 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Johnson & Johnson by 5.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after purchasing an additional 15,490 shares during the last quarter. OneAscent Financial Services LLC grew its holdings in shares of Johnson & Johnson by 82.8% during the 4th quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after purchasing an additional 4,457 shares during the period. Drive Wealth Management LLC increased its position in shares of Johnson & Johnson by 4.5% during the 1st quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock worth $1,523,000 after purchasing an additional 414 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its position in Johnson & Johnson by 12.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after buying an additional 2,201 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.1 %

Shares of NYSE:JNJ opened at $149.88 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $147.94 and a 200-day simple moving average of $153.50. The company has a market capitalization of $360.71 billion, a PE ratio of 9.34, a P/E/G ratio of 2.49 and a beta of 0.52. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts predict that Johnson & Johnson will post 10.61 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.31%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Upgrades and Downgrades

JNJ has been the topic of several recent analyst reports. Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group began coverage on Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target for the company. Bank of America decreased their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Monday, June 17th. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.07.

Read Our Latest Stock Report on JNJ

Johnson & Johnson Company Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company’s Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

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July 13, 2024
Whittier Trust Co. of Nevada Inc. Buys 22,578 Shares of Merck & Co., Inc. (NYSE:MRK)

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Whittier Trust Co. of Nevada Inc. increased its stake in Merck & Co., Inc. (NYSE:MRK – Free Report) by 10.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 247,338 shares of the company’s stock after purchasing an additional 22,578 shares during the quarter. Merck & Co., Inc. comprises 0.9% of Whittier Trust Co. of Nevada Inc.’s investment portfolio, making the stock its 18th largest holding. Whittier Trust Co. of Nevada Inc.’s holdings in Merck & Co., Inc. were worth $32,636,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cross Staff Investments Inc increased its stake in shares of Merck & Co., Inc. by 3.5% in the 4th quarter. Cross Staff Investments Inc now owns 6,710 shares of the company’s stock valued at $732,000 after acquiring an additional 225 shares in the last quarter. PFW Advisors LLC bought a new stake in shares of Merck & Co., Inc. in the 1st quarter valued at $212,000. Dynamic Advisor Solutions LLC increased its stake in shares of Merck & Co., Inc. by 6.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 77,833 shares of the company’s stock valued at $10,270,000 after acquiring an additional 4,433 shares in the last quarter. Kennedy Investment Group increased its stake in shares of Merck & Co., Inc. by 16.0% in the 4th quarter. Kennedy Investment Group now owns 2,564 shares of the company’s stock valued at $280,000 after acquiring an additional 354 shares in the last quarter. Finally, Schear Investment Advisers LLC increased its stake in shares of Merck & Co., Inc. by 16.0% in the 4th quarter. Schear Investment Advisers LLC now owns 3,233 shares of the company’s stock valued at $352,000 after acquiring an additional 445 shares in the last quarter. Institutional investors own 76.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Merck & Co., Inc. from $142.00 to $143.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price target on shares of Merck & Co., Inc. in a research note on Tuesday, June 18th. Berenberg Bank boosted their price target on shares of Merck & Co., Inc. from $140.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Wells Fargo & Company boosted their price target on shares of Merck & Co., Inc. from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. Finally, Argus upgraded shares of Merck & Co., Inc. to a “strong-buy” rating in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.00.

Check Out Our Latest Stock Analysis on Merck & Co., Inc.

Merck & Co., Inc. Price Performance

MRK opened at $126.74 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.99. The company has a market capitalization of $321.01 billion, a price-to-earnings ratio of 140.09, a P/E/G ratio of 2.43 and a beta of 0.38. The firm’s fifty day moving average price is $128.99 and its two-hundred day moving average price is $125.39. Merck & Co., Inc. has a 1 year low of $99.14 and a 1 year high of $134.63.

Merck & Co., Inc. (NYSE:MRK – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.13. The firm had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.21 billion. Merck & Co., Inc. had a net margin of 3.76% and a return on equity of 14.05%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 EPS. As a group, analysts anticipate that Merck & Co., Inc. will post 8.62 earnings per share for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Monday, June 17th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Monday, June 17th. Merck & Co., Inc.’s dividend payout ratio is presently 342.22%.

Merck & Co., Inc. Company Profile

(Free Report)

Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes under the Keytruda, Bridion, Adempas, Lagevrio, Belsomra, Simponi, and Januvia brands, as well as vaccine products consisting of preventive pediatric, adolescent, and adult vaccines under the Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Live Oral, Vaxneuvance, Pneumovax 23, and Vaqta names.

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ABMN Staff

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July 10, 2024
Next Gen Weight Loss Drugs Are Coming for Ozempic’s Throne

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The future of weight loss is fast approaching. At a recent scientific conference, drug companies showed off a variety of next-generation drugs for both obesity and type 2 diabetes. Some of these treatments might help people lose even more weight than current forerunners like Novo Nordisk’s semaglutide—the active ingredient in popular drugs Ozempic and Wegovy—while others may come with fewer side effects or be easier to take.

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Semaglutide is a drug that mimics GLP-1, one of several hormones that help regulate our sense of hunger and blood sugar. In clinical trials, semaglutide has proven to be much more effective at treating obesity than diet and exercise alone. Previously only approved for type 2 diabetes as Ozempic, semaglutide was approved for obesity in 2021 under the name Wegovy. However, it’s already started to be overshadowed by the arrival of Eli Lilly’s tirzepatide, which combines GLP-1 with another incretin hormone called GIP. Tirzepatide was approved by the Food and Drug Administration in 2021 for type 2 diabetes under the brand name Mounjaro; in November 2023, it was approved to treat obesity as Zepbound.

Newer treatments in the works are poised to compete with and possibly surpass both of these drugs. The American Diabetes Association held its annual conference over the past weekend, and the emergence of these future medications was a big aspect of the event. Companies presented preliminary data on over two dozen GLP-1 related drugs, all in various stages of development.

“We’ve heard about Ozempic and Mounjaro and so on, but now we’re seeing lots and lots of different drug candidates in the pipeline, from very early-stage preclinical all the way through late-stage clinical,” Marlon Pragnell, ADA’s vice president of research and science, told NBC News. “It’s very exciting to see so much right now.”

Altimmune’s pemvidutide, for instance, combines GLP-1 with glucagon, another hormone key to keeping our blood sugar level stable. In Phase II trial data presented this weekend, pemvidutide was found to help people lose over 15% of their baseline weight within 48 weeks, a bit ahead of the pace seen with semaglutide (15% weight loss over 68 weeks). A dual GLP-1/GIP candidate developed by scientists in China, called HRS9531 for now, was found to cause up to 16% weight loss within 24 weeks. Eli Lilly also presented new data on its second-generation drug retatrutide, which combines GLP-1, GIP, and glucagon, finding it improved insulin’s ability to control blood sugar in people with type 2 diabetes. In previous research, retatrutide was found to cause up to 24% weight loss, the highest mark seen yet with these drugs.

It’s not certain that these or other GLP-1 drugs in development will truly outmatch semaglutide and tirzepatide in terms of weight loss, but they may still have other benefits over them. Pemvidutide was found to cause less lean body mass loss, for instance, possibly due to the addition of glucagon (exercise naturally raises glucagon levels, so the drug could be mimicking some of the positive effects of exercise). Some experts are skeptical that lean body mass loss is a major concern with these drugs. However, it may be important to prevent this in individuals who are more vulnerable to muscle or bone loss, such as older adults.

It will take years for these newer drugs to reach the public, assuming they continue to succeed in larger trials. Their arrival may not only help people who don’t respond to existing treatments, though, but could also drive down the overall high costs of these medications (without insurance coverage, which is often denied, a month’s supply of semaglutide can reach over $1,000 per month).

“Over the past few years, we have seen the substantial impact of new research working to solve the dual health crisis we are facing, obesity and diabetes,” said Robert Gabbay, chief scientific and medical officer for the ADA, in a statement from the ADA. “The studies we are seeing presented at this year’s annual meeting show great promise to fuel new solutions and treatment options for patients across the globe living with type 2 diabetes and obesity.”

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Ed Cara

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June 25, 2024
Surgeon General Calls For Social Media Warning Labels

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U.S. surgeon general Vivek Murthy has called for warning labels on social media platforms similar to those on tobacco or alcohol, stating that social media preys on developing brains and contributes to excessive use. What do you think?

“He’s going to lose a lot of followers over this.”

Max Welch, Nougat Expert

Police Did Great Job, Police Say

“Isn’t Jake Paul enough of a warning?

Alyssa Lindestaf, Ambling Instructor

“Sounds like someone needs to unfollow his ex.”

Lukas Vicenik, unemployed

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June 18, 2024
Elo Mutual Pension Insurance Co Has $2.18 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

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Elo Mutual Pension Insurance Co increased its position in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 1.5% during the fourth quarter, Holdings Channel reports. The fund owned 21,636 shares of the company’s stock after acquiring an additional 327 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Cardinal Health were worth $2,181,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC acquired a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $30,000. Hexagon Capital Partners LLC increased its stake in Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after buying an additional 118 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Cardinal Health in the 4th quarter valued at approximately $36,000. Finally, Altshuler Shaham Ltd acquired a new position in Cardinal Health in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.2 %

NYSE CAH opened at $99.01 on Wednesday. The company has a fifty day simple moving average of $101.44 and a 200 day simple moving average of $104.93. The company has a market cap of $24.12 billion, a P/E ratio of 44.00, a P/E/G ratio of 1.12 and a beta of 0.64. Cardinal Health, Inc. has a 1 year low of $85.11 and a 1 year high of $116.04.

Cardinal Health (NYSE:CAH – Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. Cardinal Health’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.74 EPS. Equities research analysts forecast that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, July 1st. Cardinal Health’s dividend payout ratio is currently 88.89%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CAH shares. Robert W. Baird dropped their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Wells Fargo & Company dropped their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Argus dropped their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.57.

Read Our Latest Analysis on CAH

Cardinal Health Company Profile

(Free Report)

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.

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ABMN Staff

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June 12, 2024
Cooper Companies (NASDAQ:COO) Announces Earnings Results, Beats Expectations By $0.02 EPS

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Cooper Companies (NASDAQ:COO – Get Free Report) posted its earnings results on Thursday. The medical device company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02, Briefing.com reports. Cooper Companies had a return on equity of 8.79% and a net margin of 7.93%. The company had revenue of $942.60 million for the quarter, compared to analyst estimates of $948.07 million. During the same period last year, the company earned $0.77 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. Cooper Companies updated its FY24 guidance to $3.54-3.60 EPS and its FY 2024 guidance to 3.540-3.600 EPS.

Cooper Companies Stock Down 1.0 %

Shares of COO opened at $90.23 on Friday. The company has a market capitalization of $17.93 billion, a P/E ratio of 61.70, a PEG ratio of 2.31 and a beta of 0.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.86 and a quick ratio of 1.08. Cooper Companies has a one year low of $75.93 and a one year high of $104.07. The business’s 50 day simple moving average is $94.69 and its 200-day simple moving average is $93.59.

Analyst Ratings Changes

Several equities analysts have weighed in on COO shares. Needham & Company LLC restated a “hold” rating on shares of Cooper Companies in a report on Friday. Piper Sandler raised their target price on Cooper Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Redburn Atlantic upgraded Cooper Companies from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, March 19th. Citigroup lifted their price objective on Cooper Companies from $108.00 to $116.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upgraded Cooper Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $100.00 to $120.00 in a research note on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.69.

Get Our Latest Report on COO

Insider Transactions at Cooper Companies

In other news, CAO Agostino Ricupati sold 54,724 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $100.89, for a total value of $5,521,104.36. Following the transaction, the chief accounting officer now directly owns 5,081 shares of the company’s stock, valued at approximately $512,622.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Agostino Ricupati sold 54,724 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $100.89, for a total value of $5,521,104.36. Following the completion of the transaction, the chief accounting officer now owns 5,081 shares in the company, valued at approximately $512,622.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary S. Petersmeyer sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $103.51, for a total transaction of $103,510.00. Following the completion of the transaction, the director now owns 5,668 shares of the company’s stock, valued at approximately $586,694.68. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

About Cooper Companies

(Get Free Report)

The Cooper Companies, Inc, together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical. The CooperVision segment provides spherical lense, including lenses that correct near and farsightedness; and toric and multifocal lenses comprising lenses correcting vision challenges, such as astigmatism, presbyopia, and myopia in the Americas, Europe, Middle East, Africa, and Asia Pacific.

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May 31, 2024
How to Look Up the Money Your Doctor Is Getting From Big Pharma

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When doctors take money or gifts from pharmaceutical companies they’re required by law to report that to the U.S. government. But did you know there’s a website where you can look up how much money any doctor in the U.S. has taken from healthcare companies? It’s completely free and run by Medicare.

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A new study from JAMA found that 26 of 28 physicians who had given endorsements to healthcare products on the social media platform X had taken at least one payment from the companies making those products, according to news outlet STAT on Thursday. Incredibly, roughly half of the physicians had published no research related to the topics they were endorsing.

But the website for looking up payments to American doctors isn’t just about endorsements. It covers payments involving research, speaking fees, and a host of other areas where doctors receive payment from companies within the healthcare sector. Doctors are supposed to report any kind of compensation, even if it’s just a cup of coffee while the doctor and a drug company representative discuss the latest medications being released.

The website is called Open Payments and is run by the Centers For Medicare and Medicaid Services. And you can type in the name of any doctor in the country to see their latest data. For example, you can plug in any celebrity doctor and see which companies might be giving them money.

Screenshot: OpenPaymentsData.cms.gov

Take Dr. Drew, a celebrity doctor whose full name is Drew Pinsky, a man who used to be on mainstream TV all the time with shows like Celebrity Rehab With Dr. Drew and Dr. Drew on Call. The most recent data for Pinsky is from 2022 and shows that he made a total of $60,000 in five payments that year from Metuchen Pharmaceuticals. Metuchen owns the rights to Stendra, an erectile dysfunction medication, which Pinsky started promoting in a social media-driven campaign, according to a press release from 2022.

As you can see from the screenshot below, the nature of the payment is listed as, “Compensation for services other than consulting, including serving as faculty or as a speaker at a venue other than a continuing education program.” Pinsky didn’t immediately reply to a message sent through his website on Thursday.

Screenshot: OpenPaymentsData.cms.gov

To be clear, it’s not necessarily wrong or shady when doctors get payments from Big Pharma companies. Firms that develop new drugs and introduce new medical devices are doing important work. But it can be tremendously useful to know who’s getting paid by whom in every aspect of life. As soon as we take money or gifts from someone, it can influence even the most ethical person’s behavior in sometimes subtle ways.

It’s not just celebrity doctors with data available on the Open Payments website. Every doctor in the country is theoretically in the database and you can search your own doctor to find out what kind of money they’re taking from Big Pharma. The Open Payments website also has a video explaining what you can learn by using this tool.

Open Payments Program Overview Video

Frustratingly, not every doctor is diligent about reporting payments they’re receiving from healthcare companies. As STAT’s new article explains, almost half of the 28 physicians in that recent study didn’t report the compensation they’d received for social media endorsements.

Doctors received $12.58 billion in compensation from healthcare companies in 2022, according to the Open Payments website. The site has over 80 million records accounting for $68.44 billion dating back several years.

And, again, none of this is necessarily evidence doctors are doing anything wrong by getting paid. However, the U.S. has the highest healthcare costs in the world while maintaining the lowest life expectancy among all large wealthy countries. It’s reasonable to ask if all the money sloshing around in the healthcare industry is really making any of us better off. Because all of the available evidence suggests it’s actually making us sicker.

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Matt Novak

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May 30, 2024
New York Gets Cannabis Leadership Change

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After a chaotic and, some would say, failed rollout of legal marijuana, the lead official is stepping down

The failed legal marijuana rollout in New York cost taxpaying jobs, state revenues and crushed dreams. It was another painful blow to the weed industry and it made the Governor look foolish as she flailed to find a solution. Finally, New York get cannabis leadership change, but will it be able to fix the issue is anyone’s guess.

RELATED: NY Begs Tech Companies To Solve Their Weed Problem

Chris Alexander, the executive director of New York State Office of Cannabis (OCM) Management, is stepping down in June. Earlier this month, the governor. announced the OCM will be restructured. The decision came after an investigation found inefficiencies and mismanagement bungled the transition, costing the state millions.

The state has a strong plan for the transition from medical to recreational market and had worked closed with existing medical dispensaries. Weeks before the change, the OCM scrapped the entire plan and bumbled through a system where the state now has less than 100 legal retailers and over 1,500 illicit dispensaries in NYC alone. BDSA, a leading analyst firm which covers marijuana, estimated last year’s legal and illicit market would have been close to $2 Billion. As it was, the licensed market brought in $175 million.

The change comes at time where thing are moving forward federally with rescheduling, yet the state is struggling. Adding to the pain, the state is grappling with a variety of lawsuits over the chaos. Another issue the office has seen it self as more of advocacy organization, focused on messaging rather than being a state department in charge of licenses of a billion plus dollar segment. Players who wanted to follow the rules so they can build a long term business future feel stymied. Some were shocked to find illicit players sometimes got to jump the line to open licensed stores at the same time they are running ones with no license.

RELATED: California or New York, Which Has The Biggest Marijuana Mess

The change is positive news for the the legal industry and players since New York’s OCM has operated in a persistently opaque and inefficient manner, contributing to the slow growth. For years the office has released conflicting information about its own rules and licensing processes, and hasn’t responded to applicants and licensees in a timely manner.

Time will tell if New York is able to solve the current mess or if this will be another opportunity to cost taxpayers more money.

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Terry Hacienda

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May 28, 2024
Medtronic (NYSE:MDT) Issues FY 2025 Earnings Guidance

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Medtronic (NYSE:MDT – Get Free Report) updated its FY 2025 earnings guidance on Friday. The company provided earnings per share guidance of 5.400-5.500 for the period, compared to the consensus earnings per share estimate of 5.450. The company issued revenue guidance of $33.1 billion-$33.6 billion, compared to the consensus revenue estimate of $33.6 billion.

Analysts Set New Price Targets

MDT has been the subject of a number of recent research reports. Needham & Company LLC reissued a hold rating on shares of Medtronic in a research report on Friday. Royal Bank of Canada reissued a sector perform rating and issued a $92.00 price target on shares of Medtronic in a research report on Friday. Mizuho raised their price objective on Medtronic from $95.00 to $98.00 and gave the company a buy rating in a research report on Wednesday, February 21st. UBS Group boosted their target price on Medtronic from $75.00 to $76.00 and gave the stock a sell rating in a report on Friday. Finally, Truist Financial reduced their price target on Medtronic from $90.00 to $88.00 and set a hold rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of Hold and a consensus price target of $94.45.

View Our Latest Report on Medtronic

Medtronic Trading Up 1.1 %

Shares of MDT stock opened at $82.29 on Friday. The stock has a market capitalization of $109.27 billion, a P/E ratio of 29.92, a P/E/G ratio of 2.68 and a beta of 0.78. The company has a current ratio of 2.03, a quick ratio of 1.71 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $82.81 and its 200 day moving average is $82.75. Medtronic has a 12-month low of $68.84 and a 12-month high of $91.00.

Medtronic (NYSE:MDT – Get Free Report) last released its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. The firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the business posted $1.57 EPS. Research analysts expect that Medtronic will post 5.45 earnings per share for the current year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio is 100.36%.

Insider Activity at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Medtronic Company Profile

(Get Free Report)

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

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May 26, 2024
Edible Gel Promises Hangover-Free Mornings

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Just how far would you be willing to go to avoid the dreaded hangover? Researchers in Switzerland have developed an oral gel meant to prevent booze from breaking down into the toxic compounds most responsible for a hangover. In mice, it appeared to work as intended.

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May 15, 2024
RFK Jr. Claims He Had Parasitic Worm In Brain

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Robert F. Kennedy Jr. stated that in 2010 after he experienced bouts of memory loss for which he sought neurological treatment, one of his doctors found evidence of a parasitic worm in his brain. What do you think?

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May 9, 2024
Orangutan Stuns Researchers By Using Rogaine To Fix Bald Spot

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ACEH, INDONESIA—Watching in awe as the wild animal applied the medicinal product to the top of his head, primate researchers were reportedly stunned Friday after witnessing an orangutan use Rogaine to fix a bald spot. “This is the first known case of any wild animal using an over-the-counter hair loss treatment product,” said evolutionary biologist Sophia Guskin, who was in the process of co-authoring a paper describing how the male Sumatran orangutan named Rakus was seen holding the can upside down, spraying the product onto his scalp, and using his fingers to massage the foam into the roots of his thinning red hair. “Rogaine contains minoxidil, a medication that many cultures believe can prevent or treat balding. Rakus was seen applying this product to the skin on his head not just once, but every day for several months, ultimately resulting in visibly thicker, fuller hair. We’re still not sure if the bald spot was a result of genetics from his mother’s side, father’s side, or stress, but nonetheless, we will continue to study this ape carefully.” At press time, Rakus was observed popping generic Viagra.

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May 3, 2024
Zurcher Kantonalbank Zurich Cantonalbank Buys 148 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

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Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,897 shares of the company’s stock after buying an additional 148 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Medpace were worth $2,114,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MEDP. CWM LLC increased its holdings in Medpace by 554.3% in the 3rd quarter. CWM LLC now owns 1,518 shares of the company’s stock worth $368,000 after buying an additional 1,286 shares in the last quarter. IFP Advisors Inc increased its holdings in Medpace by 144.3% in the 3rd quarter. IFP Advisors Inc now owns 171 shares of the company’s stock worth $41,000 after buying an additional 101 shares in the last quarter. SG Americas Securities LLC increased its holdings in Medpace by 353.2% in the 3rd quarter. SG Americas Securities LLC now owns 2,515 shares of the company’s stock worth $609,000 after buying an additional 1,960 shares in the last quarter. Impact Partnership Wealth LLC bought a new stake in Medpace in the 3rd quarter worth about $105,000. Finally, Hanlon Investment Management Inc. bought a new stake in Medpace in the 3rd quarter worth about $787,000. 77.98% of the stock is currently owned by institutional investors.

Medpace Stock Up 8.2 %

Medpace stock opened at $407.15 on Wednesday. Medpace Holdings, Inc. has a 52-week low of $187.03 and a 52-week high of $419.42. The company has a market cap of $12.61 billion, a P/E ratio of 45.85, a P/E/G ratio of 1.97 and a beta of 1.38. The business has a 50-day simple moving average of $397.68 and a two-hundred day simple moving average of $323.14.

Medpace (NASDAQ:MEDP – Get Free Report) last posted its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. Medpace had a return on equity of 63.98% and a net margin of 15.00%. The firm had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $512.39 million. During the same period in the previous year, the firm earned $2.27 EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis. Research analysts anticipate that Medpace Holdings, Inc. will post 10.53 EPS for the current fiscal year.

Insider Activity

In other news, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $403.00, for a total value of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The disclosure for this sale can be found here. Insiders have sold a total of 189,340 shares of company stock valued at $76,651,647 in the last ninety days. Corporate insiders own 20.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MEDP shares. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and boosted their price target for the company from $340.00 to $450.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a research note on Monday, March 18th. They set a “hold” rating and a $395.00 price target for the company. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and boosted their price target for the company from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, Robert W. Baird boosted their price target on Medpace from $312.00 to $408.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Medpace has a consensus rating of “Moderate Buy” and an average target price of $395.60.

View Our Latest Analysis on MEDP

Medpace Profile

(Free Report)

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.

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April 24, 2024