Bulletin
Investor Alert

Topics

Income

2:16 a.m. Dec. 1, 2021 - By Ciara Linnane
Patterson Cos. beats Q2 earnings estimates and raises guidancePatterson Cos. Inc. said Wednesday it had net income of $48.3 million, or 49 cents a share, in its fiscal second quarter to Oct. 30, down from $54.1 million, or 56 cents a share, in the year-earlier period. Adjusted per-share earnings came to 58 cents, ahead of the 51 cent FactSet consensus. The provider of dental equipment and animal health products said sales rose to $1.65 billion from $1.55 billion a year ago, also ahead of the $1.58 billion FactSet consensus. "Given our momentum and confidence in the business, we are increasing our adjusted EPS guidance range for fiscal 2022," CEO Mark Walchirk said in a statement. The company is now expecting fiscal 2022 EPS to range from $1.69 to $1.79, up from prior guidance of $1.64 to $1.74. It expects adjusted EPS to range from $2.00 to $2.10, compared with prior guidance of $1.95 to $2.05. The FactSet consensus is for $2.02. Shares were not yet active premarket but have gained 6% in the year to date, while the S&P 500 has gained 21.6%.
1:59 a.m. Nov. 23, 2021 - By Tomi Kilgore
Medtronic stock drops toward 8-month low after revenue miss and lowered full-year growth outlookShares of Medtronic PLC dropped 1.2% toward an eight-month low in premarket trading Tuesday, after the medical technology company beat fiscal second-quarter profit expectations but missed on revenue, citing the negative impact of the COVID-19 pandemic resurgence and healthcare staffing challenges on medical procedure volumes. Net income for the quarter to Oct. 29 nearly tripled to $1.31 billion, or 97 cents a share, from $489 million, or 36 cents a share, in the year-ago period. Revenue rose 2.6% to $7.85 billion but was below the FactSet consensus of $7.97 billion, while cost of sales fell 7.7%. Cardiovascular revenue rose 3.7% to $2.83 billion, medical surgical revenue increased 0.6% to $2.30 billion, neuroscience revenue fell 0.4% to $1.07 billion and diabetes revenue grew 1.9% to $585 million. For fiscal 2022, the company affirmed its adjusted EPS guidance range of $5.65 to $5.75, but cut its revenue growth outlook to 7% to 8% from 9%. The stock has shed 9.0% over the past three months through Monday, while the SPDR Health Care Select Sector ETF has slipped 2.8% and the S&P 500 has gained 4.5%.
4:08 a.m. Nov. 18, 2021 - By Steve Gelsi
Pfizer to supply U.S. government with 10 million doses of its antiviral for $5.29 billionPfizer said Thursday it has agreed to supply the U.S. government with 10 million doses of its COVID-19 antiviral and will receive $5.29 billion assuming the treatment is authorized. Paxlovid would be the first oral antiviral of its kind. Antivirals are expected to be a game changer in the pandemic as they can be taken at home, while existing treatments have to be administered by intravenous or subcutaneous infusion in a clinical setting. The drug maker has applied to the U.S. Food and Drug Administration for an emergency use authorization for the treatment and is also working to submit applications to regulatory agencies around the world. It's entered into a voluntary license agreement with the Medicines Patent Pool to expand access in 95 low- and middle-income countries with about 53% of the world's population.
1:13 a.m. Nov. 17, 2021 - By Ciara Linnane
Merck and Ridgeback Biotherapeutics to present Phase 3 data from COVID antiviral at ASTMH meeting at 9. a.m.Merck and partner privately held Ridgeback Biotherapeutics will present data from a Phase 3 trial of their COVID-19 antiviral molnupiravir at the American Society of Tropical Medicine and Hygiene (ASTMH) 2021 Annual Meeting taking place virtually starting later Wednesday. "Poster data will be available on Wednesday, Nov. 17 at 9 a.m. ET and presented during Poster Session C from 11 a.m.-12:30 p.m. ET on Saturday, Nov. 20.," the companies said in a joint statement. There are high hopes for the drug, which can be taken at home, while existing COVID treatments have to be administered by intravenous or subcutaneous infusion in a clinical setting. The treatment has already been authorized for use in the U.K. in treating mild-to-moderate COVID-19 in adults who have tested positive and who have at least one risk factor for developing severe illness. The company has sought regulatory approval in the U.S., EU, Japan and other countries. Merck has agreed to make molnupiravir available to lower income countries and will allow generic companies to make it. Merck shares were slightly lower premarket but have gained 8% in the year to date, while the S&P 500 has gained 25%.
2:20 a.m. Nov. 16, 2021 - By Ciara Linnane
UPDATE: Pfizer to allow generics companies to make its COVID-19 oral antiviral treatment, expand access to poorer countriesPfizer Inc. said Tuesday it has signed a voluntary license agreement with United Nations-backed public health organization the Medicines Patent Pool that will allow generics makers to manufacture its COVID-19 oral antiviral treatment. The move will help expand access to the drug to low and middle-income countries. Under the terms of the main license agreement, qualified generic medicine manufacturers worldwide that are granted sub-licenses "will be able to supply PF-07321332 in combination with ritonavir to 95 countries, covering up to approximately 53% of the world's population," the company said in a statement. "This includes all low- and lower-middle-income countries and some upper-middle-income countries in Sub-Saharan Africa as well as countries that have transitioned from lower-middle to upper-middle-income status in the past five years. " Pfizer will not receive royalties on sales in those countries and will also waive royalties on sales in all countries covered by the agreement as long as COVID remains classified as a Public Health Emergency of International Concern by the World Health Organization. Pfizer said last week it would seek an emergency-use authorization for the treatment "as soon as possible." The company released data from a double-blind Phase 2/3 clinical trial in 1,219 unvaccinated adults with COVID-19 who were at high risk of severe disease and found it reduced the risk of dying or ending up in the hospital by 89%. Less than 1% of the patients who took the drug were hospitalized by the 28-day mark, compared with the 7% who received the placebo and were hospitalized or died. Participants took two pills a day for five days. Antivirals are expected to become a game changer in the pandemic, as they can be taken at home, while the current treatments are done by infusion in a clinical setting. Pfizer shares were down 0.7% premarket but have gained 35% in the year to date, while the Dow Jones Industrial Average has gained 18% and the S&P 500 has gained 25%.
1:16 a.m. Nov. 10, 2021 - By Tomi Kilgore
National Vision beats profit and revenue expectations, sets $50 million stock repurchase programNational Vision Holdings Inc. reported Wednesday third-quarter profit and revenue that beat expectations, as continued growth in customer transactions led to surprise growth in same-store sales even as average ticket fell amid COVID-19 concerns. The optical retail company's stock was still inactive in premarket trading. Net income rose to $41.0 million, or 45 cents a share, from $35.3 million, or 42 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 38 cents beat the FactSet consensus of 25 cents. Revenue grew 6.7% to $518.0 million, above the FactSet consensus of $512.3 million, as same-store sales rose 3.4% to beat expectations for a 0.5% decline. For 2021, the company lifted its guidance range for revenue to $2.04 billion to $2.06 billion from $2.01 billion to $2.06 billion and affirmed its EPS guidance of $1.28 to $1.33. Separately, a new $50 million share repurchase program was set, which represents about 1% of the company's market capitalization at Tuesday's close. The stock has rallied 40.3% year to date, while the S&P 500 has gained 24.7%.
2:16 a.m. Nov. 9, 2021 - By Tomi Kilgore
Cardinal Health stock gains as profit misses expectations but revenue beats and outlook affirmedShares of Cardinal Health Inc. rose 1.5% in premarket trading Tuesday, after the drug distributor and make of lab products reported fiscal first-quarter profit that missed expectations, as supply chain costs weighed on its medical business, but revenue rose above forecasts. The company swung to net income of $271 million, or 94 cents a share, from a loss of $253 million, or 86 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.29 was below the FactSet consensus of $1.32. Revenue grew 12.6% to $43.97 billion, above the FactSet consensus of $41.84 billion. Pharmaceutical revenue rose 13% to $39.8 billion, to beat the FactSet consensus of $37.7 billion, and medical segment revenue rose 5% to $4.1 billion to match expectations. Pharmaceutical profit increased 1% while medical segment profit dropped 46% due primarily to elevated supply chain costs. The company affirmed its fiscal 2022 adjusted EPS guidance range of $5.60 to $5.90, despite expectations that the medical business will see greater inflationary pressure. The stock has slipped 7.3% year to date through Monday, while the SPDR Health Care Select Sector ETF has rallied 17.8% and the S&P 500 has advanced 25.2%.
1:49 a.m. Nov. 4, 2021 - By Tomi Kilgore
AmerisourceBergen swings to profit, as it laps the big loss from opioid lawsuit expensesAmerisourceBergen Corp. reported Thursday that it swung to a fiscal fourth-quarter profit, as the drug distribution company moved past expenses related to opioid lawsuits, and revenue that rose above expectations. Net income for the quarter to Sept. 30 was $437.7 million, or $2.08 a share, after a loss of $4.85 billion, or $23.74 a share, which included a $6.6 billion legal expense accrual. Excluding nonrecurring items, adjusted earnings per share of $2.39 topped the FactSet consensus of $2.36. Revenue increased 19.6% to $58.91 billion, well above the FactSet consensus of $57.17 billion, while cost of goods sold grew 18.7%. Pharmaceutical Distribution Services sales rose 8.4% to $51.25 billion and other sales jumped 286.8% to $7.70 billion, driven primarily by the Alliance Healthcare acquisition. For fiscal 2022, the company expects adjusted EPS of $10.50 to $10.80, surrounding the FactSet consensus of $10.61, and revenue growth in the high single-digit to low double-digit percentage range, while the FactSet revenue consensus of $237.2 billion implies 10.8% growth. The stock, which was still inactive in premarket trading, has rallied 31.2% year to date while the S&P 500 has advanced 24.1%.
1:46 a.m. Nov. 4, 2021 - By Ciara Linnane
Regeneron earnings boosted by $804 million in sales of COVID antibody treatmentRegeneron Pharmaceuticals Inc. shares rose 1.8% in premarket trade Thursday, after the company blew past estimates for the third quarter and said the U.S. government has ordered another 1.4 million doses of its COVID-19 antibody treatment. The company posted net income of $1.632 billion, or $14.33 a share, for the quarter, or almost double the $842 million, or $7.39 a share, in the year-earlier period. Adjusted per-share earnings came to $15.37, well ahead of the $10.20 FactSet consensus. Revenue rose 51% to $3.453 billion from $2.294 billion a year ago, also ahead of the FactSet consensus of $2.746 billion. The company said its COVID treatment, Regen-COV, chalked up $804 million in sales in the quarter. Its Eylea treatment for macular degeneration saw sales rise 12% to $1.47 billion and sales of Duplixent, which treats eczema and asthma rose 55% to $1.66 billion. Shares have gained 45% in the year to date, while the S&P 500 has gained 24%.
1:32 a.m. Nov. 4, 2021 - By Tomi Kilgore
Becton Dickinson net profit more than doubles, revenue beat expectationsBecton Dickinson & Co. reported Thursday fiscal fourth-quarter profit and revenue that rose above expectations, with strength in its medical and interventional businesses, and in international sales. Net income for the quarter to Sept. 30 more than doubled to $242 million, or 84 cents a share, from $105 million, or 36 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.59 beat the FactSet consensus of $2.45. Revenue rose 7.3% to $5.14 billion, above the FactSet consensus of $4.91 billion, as U.S. sales grew 1.9% to $2.80 billion and international sales rose 14.7% to $2.33 billion. Among business segments, Medical sales rose 9.2%, Life Sciences sales increased 2.9% and Interventional sales rose 9.5%. Cost of sales rose 10.5% to $2.85 billion. For fiscal 2022, the medical technology company expects adjusted EPS of $12.30 to $12.50 and revenue of $19.3 billion to $19.5 billion, surrounding the FactSet consensus for EPS of $12.34 and for revenue of $19.47 billion. The stock, which was little changed in premarket trading, has slipped 1.3% year to date while the S&P 500 has gained 24.1%.
1:12 a.m. Nov. 4, 2021 - By Ciara Linnane
Cigna tops estimates for third quarter and raises EPS guidanceCigna Corp. said Thursday it had net income of $1.621 billion, or $4.80 a share, in the third quarter, up from $1.388 billion, or $3.78 a share, in the year-earlier period. Adjusted per-share earnings came to $5.73, ahead of the FactSet consensus of $5.23. Revenue rose to $44.310 billion from $40.801 billion a year ago, also ahead of the $42.940 billion FactSet consensus. The company is now expecting full0year EPS of at least $20.35, up from earlier guidance of $20.20, and ahead of the FactSet consensus of $20.28. Shares were slightly higher premarket and have gained about 5% in the year to date, while the S&P 500 has gained 24%.
1:58 a.m. Nov. 3, 2021 - By Steve Gelsi
CVS Health net income rises 30%CVS Health Corp. said Wednesday its third-quarter net income increased to $1.59 billion, or $1.20 a share, from $1.22 billion, or 93 cents a share in the year-ago period. Adjusted earnings rose to $1.97 a share from $1.66 a share. Revenue rose by 10% to $73.8 billion from $67.1 billion. Analysts expected the company to earn $1.79 a share on revenue of $70.5 billion, according to a survey by FactSet. CVS tweaked its adjusted 2021 earnings outlook to a range of $7.90 to $8 a share, from its earlier view of $7.70 to $7.80 a share. Analysts were looking for 2021 earnings of $7.79 a share. CVS Health president and CEO Karen S. Lynch said the company "outperformed expectations once again and continue to lead the way in changing how, when and where care is delivered for millions of Americans." Shares of CVS are up 33.5% in 2021, compared to a rise of 23.3% by the S&P 500. The stock fell 1.2% in pre-market trades.
1:46 a.m. Nov. 3, 2021 - By Tomi Kilgore
Humana beats profit expectations but misses on revenue, cuts full-year outlookHumana Inc. reported Wednesday third-quarter profit that beat expectations but revenue that missed, and cut its full-year earnings outlook after a revised outlook Medicare Advantage utilization in the fourth quarter. The health care services company's stock was still inactive in premarket trading. Net income fell to $1.64 billion, or $11.84 a share, from $1.76 billion, or $10.05 a share, in the year-ago period. Excluding nonrecurring items, such as gain on Kindred at Home investment, adjusted earnings per share rose to $4.83 from $3.08 and beat the FactSet consensus of $4.66. Revenue rose 3.1% to $20.70 billion but was below the FactSet consensus of $20.90 billion. The company said it now expects overall fourth-quarter Medicare Advantage utilization to be 1.0% below baseline, compared with the guidance provided in September to be 2.5% below baseline. With the new outlook, the company said it now expects 2021 adjusted EPS to be approximately $20.50, down from previous guidance of $21.25 to $21.75. The stock has rallied 7.4% over the past three months while the S&P 500 has gained 4.7%.
1:14 a.m. Nov. 3, 2021 - By Ciara Linnane
Teva Pharmaceuticals plans $5 billion sustainability-linked bond tied to climate and access to medicine targetsTeva Pharmaceutical Industries Ltd. said Wednesday it is planning to execute a $5 billion sustainability-linked bond that will be tied to climate and access to medicine targets. The Israeli generics company said the bond is the biggest of its kind from any sector and first issued by a generics company. The bond will be tied to a 25% reduction in Scope 1 and 2 greenhouse gas emissions and a 150% increase in access to essential medicines for patients in low- and middle-income countries by the end of 2025. Teva said it is also the only drug company to issue a bond with both social and environmental targets. The company recently said it is targeting reducing Scope 3 GHG emissions by 25% by 2030. It will disclose its performance against each target in its annual ESG Progress report. Shares were down 0.8% premarket and have gained about 5% in the year to date, while the S&P 500 has gained 23%.
2:00 a.m. Nov. 2, 2021 - By Ciara Linnane
Pfizer shares jump 2.5% premarket as earnings beat, company raises guidance Pfizer Inc. shares jumped 2.5% in premarket trade Tuesday, after the company beat earnings estimates for the third quarter and raised guidance, boosted by strong sales of its COVID-19 vaccine, Comirnaty. The company posted net income of $8.146 billion, or $1.42 a share, for the quarter, up from $1.469 billion, or 26 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.34, well ahead of the $1.08 FactSet consensus. Revenue more than doubled to $24.094 billion from $10.277 billion, also comfortably ahead of the $22.576 billion FactSet consensus. Vaccine revenue rose to $14.6 billion from $1.717 billion. "More than 75% of the revenues we have recorded up through third-quarter 2021 for Comirnaty have come from supplying countries outside the U.S., and we remain on track to achieve our goal of delivering at least two billion doses to low- and middle-income countries by the end of 2022 -- at least one billion to be delivered this year and one billion next year, with the possibility to increase those deliveries if more orders are placed by these countries for 2022," CEO Albert Bourla said in a statement. The company is expecting full-year COVID vaccine sales of about $36 billion, reflecting the 2.3 billion doses expected to be delivered in the year. It raised its overall full-year guidance and now expects adjusted EPS to range from $4.13 to $4.18, up from prior guidance of $3.95 to $4.05. It expects revenue to range from $81.0 to $82.0 billion, up from prior guidance of $78.0 billion to $80.0 billion. Shares have gained 18.6% in the year to date, while the Dow Jones Industrial Average has gained 17% and the S&P 500 has gained 22.8%.
1:43 a.m. Oct. 28, 2021 - By Tomi Kilgore
Merck stock gains after profit and revenue rise above expectations, and upbeat full-year outlookShares of Merck & Co. Inc. rose 1.0% in premarket trading Thursday, after the drug maker and animal health company reported third-quarter profit and revenue that rose above expectations and provided and upbeat full-year outlook. Net income rose to $4.57 billion, or $1.80 a share, from $2.94 billion, or $1.16 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $1.75 from $1.37, and beat the FactSet consensus of $1.55. Sales grew 20.4% to $13.15 billion, well above the FactSet consensus of $12.32 billion, as pharmaceutical sales increased 18.3% to $11.50 billion, with Keytruda sales rising 22.0%, and animal health sales rose 16.1% to $1.42 billion. For 2021, the company expects adjusted EPS of $5.65 to $5.70, above the FactSet consensus of $5.63, and revenue of $47.4 billion to $47.9 billion, surrounding expectations of $47.60 billion. The stock has gained 4.1% over the past three months through Wednesday, while the Dow Jones Industrial Average has tacked on 1.6%.
2:29 a.m. Oct. 27, 2021 - By Ciara Linnane
Teva shares slump premarket after earnings fall short of estimatesTeva Pharmaceuticals Inc. swung to a profit in the third quarter, although profit and revenue fell below Wall Street estimates. The Israeli generics company posted net income of $292 million, or 26 cents a share, for the quarter, after a loss of $4.349 billion, or $3.97 a share, in the year-earlier period. Adjusted per-share earnings came to 59 cents, below the 64 cents FactSet consensus. Revenue fell 2% to $3.887 billion, also missing the FactSet consensus of $4.03 billion. "This decrease was mainly due to lower revenues in our North America segment, mainly due to COPAXONE and generic products, partially offset by higher revenues from generic and OTC products in our Europe segment, AJOVY and AUSTED,' the company said in a statement. "Revenues continued to be affected by the ongoing impact of the COVID-19 pandemic on markets and on customer stocking and purchasing patterns." The company announced that is launching a $4 billion Sustainability-Linked Bond (SLB) today, which CEO Kåre Schultz said would help secure access to medicines in low and middle-income countries. Schultz said Teva is the first generics company to offer an SLB. Shares were down 0.4% premarket and are down 2.7% in the year through Tuesday's close, while the S&P 500 has gained 22%.
1:44 a.m. Oct. 27, 2021 - By Tomi Kilgore
Boston Scientific stock gains after profit tops expectations, while sales came up a bit shortShares of Boston Scientific Corp. rose 0.4% in premarket trading Wednesday, after the medical device company reported third-quarter profit that topped expectations, but sales that came up a bit shy, while nudging up its earnings outlook and cutting its sales growth view. The company swung to net income of $405 million, or 28 cents a share, from a loss of $169 million, or 12 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to 41 cents from 37 cents, above the FactSet consensus of 40 cents. Sales increased 10.3% to $2.93 billion, just below the FactSet consensus of $2.96 billion, as MedSurg sales grew 11.2%, Rhythm and Neuro sales rose 8.2% and Cardiovascular sales increased 19.4%. For 2021, the company revised its adjusted EPS guidance range up to $1.60 to $1.62 from $1.58 to $1.62 but lowered its sales growth guidance to 19% to 20% from 21% to 22%. The stock has slipped 2.6% over the past three months through Tuesday, while the S&P 500 has gained 3.9%.
1:50 a.m. Oct. 26, 2021 - By Steve Gelsi
Eli Lilly & Co. net income falls 8%, but adjusted profit risesEli Lilly & Co. said Tuesday its third-quarter net income fell 8% to $1.11 billion, or $1.22 a share, from $1.21 billion, or $1.33 a share in the year-ago period. Adjusted net income increased to $1.94 a share from $1.41 a share. Revenue increased to $6.773 billion from $5.74 billion. Analysts expected the drug maker to earn $1.96 a share on revenue of $6.639 billion, according to a FactSet survey. Citing increased revenue from products related to the battle against COVID-19, Eli Lilly increased its 2021 profit target to $7.95 to $8.05 a share, from its earlier view of $7.95 to $8.05 a share. Analysts were expecting earnings of $7.90 a share. Shares of Eli Lilly rose 2.2% in pre-market trades. The company's stock is up 45% this year compared to an increase of 21.6% by the S&P 500.
1:15 a.m. Oct. 26, 2021 - By Ciara Linnane
Centene tops Q3 estimates and offers upbeat guidanceCentene Corp. beat estimates for the third quarter and offered above-consensus guidance on Tuesday, . The St. Louis-based company posted net income of $584 million, or 99 cents a share, for the quarter, up from $568 million, or 97 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.26, ahead of the $1.24 FactSet consensus. Revenue rose to $32.4 billion from $29.1 billion, also ahead of the $31.6 billion FactSet consensus. Total operating expenses came to $31.9 billion, up from $28.2 billion a year ago. The company said its managed care membership rose 5% to 26.5 million. Its health benefits ratio climbed to 88.1% from 86.4% a year ago. The company is now expecting full-year adjusted EPS of $5.05 to $5.15 and revenue of $125.2 billion to $126.4 billion. The FactSet consensus is for EPS of $5.11 and $124.8 billion. Shares were down 3.3% premarket but have gained 13% in the year to date, while the S&P 500 has gained 21.6%.
2:15 a.m. Oct. 22, 2021 - By Ciara Linnane
HCA Healthcare blows past earnings estimates as it books gain on sale of facilities, offers upbeat guidanceHCA Healthcare Inc. blew past earnings estimates for the third quarter on Friday, and offered guidance that was above consensus as the coronavirus pandemic caused a surge in demand for hospital care. The Nashville, Tenn.-based hospital operator said it had net income of $2.269 billion, or $7.00 per share, compared to $668 million, or $1.95 per diluted share, in the year -earlier period. Revenue rose to $15.276 billion from $13.311 billion. The FactSet consensus was for EPS of $4.06 on revenue of $14.476 billion. "During the third quarter we experienced the most intense surge yet of the pandemic, and our colleagues and physicians delivered record levels of patient care to meet the demand caused by the Delta variant," CEO Sam Hazen said in a statement. The results included a gain on sales of facilities of $1.047 billion, or $2.43 a share. Same-facility admissions rose 6.8% in the quarter from the year-earlier period, while same-facility emergency room visits jumped 31.2%. The company is now expecting full-year EPS to range from $17.20 to $17.80 and for revenue to range from $58.7 billion to $59.3 billion. The FactSet consensus is for EPS of $17.05 and $57.872 billion. Shares were up 1% premarket and have gained 58% in the year to date, while the S&P 500 has gained 21%.
2:05 a.m. Oct. 21, 2021 - By Steve Gelsi
Quest Diagnostics net income falls; hikes 2021 outlookQuest Diagnostics Inc. said Thursday its third-quarter net income fell to $505 million, or $4.02 a share, from $568 million, or $4.14 a share in the year-ago quarter. Adjusted earnings fell to $3.96 a share from $4.31 a share. Revenue at the medical testing company dropped to $2.774 billion from $2.786 billion. Analysts expected the company to earn $2.88 a share on revenue of $2.452 billion, according to a FactSet survey. Quest Diagnostics said it's lifting its 2021 profit target to a range of $13.50 to $13.90 a share, from its previous guidance of $11.65 to $12.35 share because of higher than expected COVID-19 testing volume. Analysts expected the company to earn $12.12 a share in 2021. Shares of Quest Diagnostics rose 3% in pre-market trades. As of Wednesday's close, the stock is up 23.2% so far this year, compared to a rise of 20.8% by the S&P 500.
4:05 a.m. Oct. 20, 2021 - By Steve Gelsi
AirSculpt Technologies sets IPO price range at $15 to $17 a shareAirSculpt Technologies Inc. on Wednesday could raise about $160 million in its upcoming initial public offering, based on the midpoint of its estimated price range of $15 to $17 a share and 10 million shares in the offering. The company will raise about $26.6 million by offering 1.56 million shares, and selling shareholders will draw in $143.4 million of the total proceeds. AirSculpt Technologies will have 55.4 million shares outstanding after it goes public, with a market cap of $886 million based on a share price of $16. AirSculpt, which specializes in fat removal through a minimally invasive process, reported net income of $16.7 million on revenue of $61 million in the six months ended June 30, compared to a net loss of $908,000 and revenue of $22.1 million in the year-ago period. Vesey Street Capital Partners will own 47% of the company once it goes public, according to its IPO prospectus. Morgan Stanley, Piper Sandler and SVB Leerink are the lead underwriters out of five banks working on the deal.
2:44 a.m. Oct. 20, 2021 - By Tomi Kilgore
Abbott Laboratories stock surges after big profit and sales beats, and upbeat full-year outlookShares of Abbott Laboratories rallied 2.8% in premarket trading Wednesday, after the health care company reported third-quarter profit and sales that rose well above expectations, with the strongest growth seen in its diagnostics business, and provided an upbeat full-year outlook. Net income rose to $2.52 billion, or $1.17 a share, from $1.76 billion, or 69 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $1.40 from 98 cents to beat the FactSet consensus of 94 cents. Sales grew 23.4% to $10.93 billion, above the FactSet consensus of $9.56 billion, as nutrition sales rose 9.6%, diagnostics sales increased 48.2%, established pharmaceuticals sales grew 15.15 and medical devices sales rose 14.6%. Sales growth outpaced the 13.9% rise in operating costs and expenses. For 2021, the company expects adjusted EPS of $5.00 to $5.10, compared with the FactSet consensus of $4.46. Abbott Labs' stock has gained 9.0% year to date through Tuesday, while the S&P 500 has rallied 20.3%.
1:19 a.m. Oct. 20, 2021 - By Tomi Kilgore
Anthem stock gains after profit and revenue beats, raised full-year earnings outlookShares of Anthem Inc. rose 0.6% in premarket trading Wednesday, after the health benefits company reported third-quarter profit and revenue that rose above expectations, amid higher premium revenue due to growth in Medicaid and Medicare, and raised its full-year outlook. Net income rose nearly seven-fold to $1.51 billion, or $6.13 a share, from $222 million, or 87 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $6.79, above the FactSet consensus of $6.37. Revenue grew 15.0% to $35.82 billion, beating the FactSet consensus of $35.35 billion, while expenses increased 9.9% to $33.83 billion. Medical enrollment grew 5.7% to 45.1 million members. The company raised is 2021 adjusted EPS guidance to "greater than $25.85" from "greater than $25.50," compared with the FactSet consensus is $25.66. The stock has rallied 22.6% year to date through Tuesday, while the SPDR Health Care Select Sector ETF has advanced 13.5% and the S&P 500 has climbed 20.3%.
12:12 a.m. Oct. 20, 2021 - By Steve Goldstein
Novavax shares tumble after report on vaccine manufacturing difficultiesNovavax shares tumbled 16% in premarket action after that meets regulators' quality standards, citing three people with direct knowledge of the company's problems. The report said Novavax's troubles mean the international consortium known as COVAX is now likely to fall short of its 2 billion dose target to lower and middle-income countries by the end of 2022 by more than 1 billion doses. The report said Novavax's difficulties are more concerning than the analytics and testing issues disclosed in Securities and Exchange Commission filings. Novavax told Politico that it still plans on filing for emergency use authorization by the end of the year and will fulfill all its committed doses both in the U.S. and globally.
8:21 a.m. Oct. 15, 2021 - By Tomi Kilgore
Milan Laser hair removal company files to go publicMilan Laser Inc., the profitable Nebraska-based laser hair removal company, has filed to go public. The company has not yet determined how many shares it will offering in its initial public offering, the expected pricing of the IPO or the number of shares expected to be outstanding after the IPO. The company did said it have three classes of common stock. The Class A shares to offered in the IPO will have one per share, while Class B and Class C shares will initially have 10 votes. The company expects its shares to list on the NYSE under the ticker symbol "MLAN." Goldman Sachs and Jefferies are the underwriters. The company recorded net income of $10.0 million on revenue of $71.8 million during the six months ended June 30, after a loss of $2.7 million on revenue of $27.4 million in the same period a year ago. The filing comes about two months after European Wax Center Inc. went public, and currently has a market capitalization of about $1.76 billion. Milan Laser said in its S-1 filing: "We believe that laser hair removal is a better alternative to other hair removal techniques such as shaving, waxing or sugaring as it uses FDA-cleared lasers, and it is safe, fast (appointments as short as 10 minutes), effective, affordable, and, most importantly, a permanent solution for the reduction of unwanted hair." The company filed to go public at a time that the Renaissance IPO ETF has run up 10.1% over the past three months while the S&P 500 has gained 2.4%.
1:08 a.m. Oct. 14, 2021 - By Ciara Linnane
UnitedHealth shares up premarket after earnings beat estimates, raises guidanceUnitedHealth Group Inc. shares jumped 1.7% in premarket trade Thursday, after the health benefits company beat earnings estimates for the third quarter and raised its guidance. The company posted net income of $4.086 billion, or $4.28 a share, up from $3.172 billion, or $3.30 a share, in the year-earlier period. Adjusted per-share earnings came to $4.52, ahead of the $4.41 FactSet consensus. Revenue rose to $72.337 billion from $65.115 billion, also ahead of the $71.347 billion FactSet consensus. The company raised its full-year guidance and now expects EPS to range from $17.70 to $17.95, and for adjusted EPS to range from $18.65 to $18.90. The FactSet consensus is for full-year EPS of $18.75. Shares have gained 15% in the year to date, while the Dow Jones Industrial Average [s :djia] has gained 12%.
12:01 p.m. Sept. 29, 2021 - By Claudia Assis
Ensemble Health files for $100 million IPOEnsemble Health Partners has filed for an initial public offering, seeking to sell $100 million worth of shares, although that figure is often a placeholder used to calculate fees. Based in Cincinnati, Ensemble offers medical-claim management tools for hospitals and other health-care providers, enabling them to identify, manage, and collect revenue from patients, insurance companies, and other payors. Underwriters include Goldman Sachs and B. of A. Securities, according to the filing Wednesday. Ensemble plans to trade on the Nasdaq under the symbol ENSB. It listed revenue of $600 million in 2020, compared with $231 million for the six months ended in December 2019, and net income of $101 million for 2020, compared with net income of $33.6 million for the six months ended in December 2019.
1:12 a.m. Sept. 22, 2021 - By Tomi Kilgore
Pfizer, BioNTech to provide additional 500 million COVID-19 vaccine doses to U.S. government for donationPfizer Inc. and BioNTech SE announced Wednesday plans to provide an additional 500 million doses of their COVID-19 vaccine to the U.S. government. The additional doses will be sold at "not-for-profit" prices, for donation to low- and lower-middle-income countries, as defined by Gavi's COVAX Advanced Market Commitment (AMC) and the 55 member states of the African Union. That brings the total number of doses to be supplied to the U.S. government for donation to 1 billion. Pfizer shares gained 0.6% in premarket trading and BioNTech's stock rose 0.6%. Delivery of the additional doses began in August, and the total 1 billion doses are expected to be delivered by the end of September 2022. The doses will be produced at Pfizer's facilities in Kalamazoo, Michigan, Andover, Massachusetts, Chesterfield, Missouri and McPherson, Kansas. Shares of Pfizer have climbed 19.3% year to date through Tuesday and BioNTech have rocketed 318.7%, while the S&P 500 has gained 15.9%.
3:29 a.m. Sept. 1, 2021 - By Tomi Kilgore
Medical Properties Trust raised earnings outlook, announces deal to sell an interest in 8 hospitals for a premiumShares of Medical Properties Trust Inc. rose 0.6% in premarket trading Wednesday, after the real estate investment trust announced a deal to sell an interest in acute care hospitals it owns and raised its earnings outlook. The REIT (MPT) said it reached an agreement with Macquarie Infrastructure Partners V (MIP V) to form a partnership in which an MIP V subsidiary buys a 50% stake in eight Massachusetts-based hospitals currently owned by MPT and operated by Steward Health Care System, in a deal that values the portfolio at $1.78 billion. "This transaction's portfolio valuation is a 48% increase over our original investment in these hospitals made in 2016, and the compelling value creation reflects the strength of MPT's underwriting process, which allows our team to identify operators and strategies that are likely to result in long-term and sustained improvement in operating results," said Medical Properties Trust Chief Executive Edward Aldag. Separately, MPT said based on year-to-date transactions, it raised its guidance for annual net income to $1.81 to $1.85 per share for normalized funds from operations, from $1.72 to $1.76. MPT's stock has lost 6.0% year to date through Tuesday, while the SPDR Real Estate Select Sector ETF has soared 30.4% and the S&P 500 has advanced 20.4%.
2:01 a.m. Aug. 26, 2021 - By Tomi Kilgore
Pfizer, BioNTech sign LOI with Brazil's Eurofarma to make COVID-19 vaccines for use in Latin AmericaPfizer Inc. and BioNTech SE said Thursday that they have signed a letter of intent (LOI) with Brazil-based biopharmaceutical company Eurofarma Laboratórios SA to make COVID-19 vaccines for distribution in Latin America. Eurofarma will receive drug product from the U.S., and will perform manufacturing activities, with distribution expected to start in 2022. The annual production is expected to be more than 100 million doses. Pfizer and BioNTech said it will now have 20 manufacturing facilities in four continents. The companies have shipped 1.3 billion COVID-19 vaccine doses to more than 120 countries to date, and aim to provide 2 billion doses to low and middle income countries through 2022. The Pfizer-BioNTech vaccine has been by the U.S. Food and Drug Administration, and the companies have initiated an application for approval of a third dose as a booster. Shares of Pfizer are up 0.3% in premarket trading, while BioNTech's stock is down 0.8% and futures for the S&P 500 are slipping 0.1%.
2:00 a.m. Aug. 24, 2021 - By Tomi Kilgore
Medtronic stock gains after profit and sales beats, outlook for earnings nudged upShares of Medtronic PLC tacked on 0.6% in premarket trading Tuesday, after the medical device maker reported fiscal first-quarter profit and sales that beat expectations, and nudged up its full-year earnings outlook, citing a strong recovery from the impact of the COVID-19 pandemic on elective procedures. Net income for the quarter to July 30 rose to $763 million, or 56 cents a share, from $487 million, or 36 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $1.41, above the FactSet consensus of $1.32. Sales grew 22.7% to $7.99 billion, beating the FactSet consensus of $7.87 billion, as cardiovascular, medical surgical and neuroscience segments topped revenue expectations but diabetes came up a bit short. For fiscal 2022, the company lifted its adjusted EPS guidance range to $5.65 to $5.75 from $5.60 to $5.75. The stock has gained 9.7% year to date through Monday, while the S&P 500 has rallied 19.3%.
5:02 a.m. Aug. 18, 2021 - By Jaimy Lee
WHO again calls for holding off on COVID-19 booster shots until SeptemberThe World Health Organization reiterated its call for a moratorium on giving COVID-19 booster shots until the end of September. The comments were made Wednesday morning, hours before White House officials with Americans later today. During a press briefing on Wednesday, director-general Tedros Adhanom Ghebreyesus waiting until late September to provide boosters in higher-income countries would "help shift supply to those countries that have not even been able to vaccinate their health workers and at-risk communities and are now experiencing major spikes."
4:59 a.m. Aug. 12, 2021 - By Tomi Kilgore
Organon stock jumps after earnings beat, initiating dividend with yield well above its peer groupShares of Organon & Co. shot up 7.1% in morning trading Thursday, after the pharmaceutical company and . reported second-quarter profit and revenue that beat expectations, amid strength in its women's health business, and initiated a dividend that implied a yield that was well above its peer group. Net income fell to $427 million, or $1.68 a share, from $542 million, or $2.14 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share was $1.72. The results beat the Wall Street EPS consensus of $1.42, according to FactSet. Revenue rose 5% to $1.595 billion, above the FactSet consensus of $1.522 billion, as established brands revenue fell 4% to $1.045 billion while revenue from women's health grew 19% to $417 million and from biosimilars increased 43% to $86 million. The company initiated a quarterly dividend of 28 cents a share, payable Sept. 13 to shareholders of record on Aug. 23. Based on current stock prices, the annual dividend rate implies a dividend yield of 3.50%, compared with the yield for the SPDR Health Care Select Sector ETF of 1.33% and the implied yield for the S&P 500 of 1.35%.
10:02 a.m. Aug. 5, 2021 - By Tomi Kilgore
Cardinal Health stock tumbles to pace S&P 500 losers, after big Q4 profit miss and downbeat outlookShares of Cardinal Health Inc. tumbled 13.7% toward a nine-month low in afternoon trading Thursday, after the distributor of drugs and laboratory products reported a big fiscal fourth-quarter earnings miss, and provided a downbeat outlook, as results were hurt by a $197 million COVID-related inventory reserve, related to personal protective equipment. The stock, which paced the S&P 500's decliners, was also on track to suffer the biggest one-day selloff since May 2018. Net income for the quarter to June 30 fell to $116 million, or 40 cents a share, from $656 million, or $2.23 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 77 cents, missing the FactSet consensus of $1.20. Revenue grew 16% to $42.59 billion, topping the FactSet consensus of $40.39 billion. Pharmaceutical revenue increased 15% to $38.3 billion, topping expectations of $36.7 billion, while medical revenue grew 23% to $4.2 billion but came up short of expectations of $4.28 billion. For fiscal 2022, the company expects adjusted EPS of $5.60 to $5.90, while the current FactSet EPS consensus $6.13. The stock has shed 4.9% year to date, while the SPDR Health Care Select Sector ETF has rallied 17.0% and the S&P 500 has advanced 17.7%.
2:24 a.m. Aug. 5, 2021 - By Tomi Kilgore
Zoetis reported profit and revenue rose above expectations, raised the full-year guidanceZoetis Inc. reported Thursday second-quarter profit and revenue that rose above expectations and lifted its full-year outlook, driven by petcare parasiticides, dermatology products, vaccines and diagnostics. The animal health company's stock slipped 0.4% in premarket trading, after closing Wednesday at a record. Net income rose to $512 million, or $1.07 a share, from $377 million, or 79 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $1.19, beating the FactSet consensus of $1.08. Revenue grew 25.8% to $1.95 billion, above the FactSet consensus of $1.83 billion. For 2021, the company raised its guidance ranges for adjusted EPS to between $4.47 and $4.55 from between $4.42 and $4.51, and for revenue to between $7.63 billion and $7.70 billion from between $7.50 billion and $7.63 billion. "Our triple combination parasiticide Simparica Trio® continues exceeding our launch expectations and strengthening our overall position in this competitive market, and we remain very positive about further uptake of our petcare innovations in monoclonal antibodies and diagnostics," said Chief Executive Kristin Peck. The stock has soared 17.8% over the past three months through Wednesday, while the S&P 500 has gained 5.6%.
1:55 a.m. Aug. 5, 2021 - By Ciara Linnane
Regeneron shares jump 3.3% premarket after earnings blow past estimates; COVID antibody sales total $2.59 billionRegeneron Pharmaceuticals Inc. shares jumped 3.3% in premarket trade Thursday, after . Tarrytown, New York-based Regeneron posted net income of $$3.099 billion, or $27.97 a share, for the quarter, up from $897 million, or $7.61 a share, in the year-earlier period. Adjusted per-share earnings came to $25.80, well ahead of the $17.90 FactSet consensus. Revenue rose to $5.139 billion from $1.952 billion a year ago, also well ahead of the $3.963 billion FactSet consensus. Revenue included $2.59 billion in sales of the company's COVID-19 antibody treatment, after it made and delivered 1.25 million doses for the U.S. government. The company said it also achieved record sales of its Eylea and Dupixent franchises, according to Chief Executive Leonard Schleifer. The company is planning to invest $1.8 billion over six years to expand R&D and manufacturing at its Tarrytown campus. Shares have gained 20% in the year to date, while the S&P 500 has gained 17%.
1:19 a.m. Aug. 5, 2021 - By Tomi Kilgore
Cigna beats earnings expectations and raises revenue outlook, but stock fallsCigna Corp. reported Thursday second-quarter profit and revenue that topped forecasts, amid strength in the health insurers pharmacy business, while growth in customer relationships slowed from the previous quarter. The stock fell 2.8% in premarket trading. Net income fell to $1.47 billion, or $4.25 a share, from $1.75 billion, or $4.73 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share declined to $5.24 from $5.81 but beat the FactSet consensus of $4.96. Total revenue rose 9.8% to $43.13 billion, above the FactSet consensus of $41.19 billion, as pharmacy revenue grew 13.1% to $30.05 billion to beat expectations of $28.53 billion. Total customer relationships as of June 30 rose 3.6% to 191.11 million and total pharmacy customers increased 5.0% to 101.93 million, driven by strong ongoing retention and new sales, which compares with growth of 13.7% and 28.2%, respectively, in the second quarter. For 2021, Cigna raised its revenue outlook to at least $170 billion from at least $166 billion, and affirmed its adjusted EPS outlook of at least $20.20.
1:42 a.m. Aug. 4, 2021 - By Tomi Kilgore
AmerisourceBergen's stock set to rally after profit and revenue beats, raised outlookShares of AmerisourceBergen Corp. were indicated up nearly 2% in premarket trading Wednesday, after the drug and health care products delivery company reported fiscal third-quarter profit and revenue that beat expectations and raised its full-year outlook, amid increased sales of specialty product, including COVID-19 treatments. Net income for the quarter to June 30 was $292.1 million, or $1.40 a share, after $289.4 million, or $1.41 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.16 beat the FactSet consensus of $2.04. Revenue rose 17.7% to $53.41 billion, above the FactSet consensus of $52.16 billion, as pharmaceutical distribution services sales increased 13.2% to $49.3 billion and other revenue grew 128.0% to $4.1 billion. For fiscal 2021, the company raised its adjusted EPS guidance range to $9.15 to $9.30 from $8.90 to $9.10. The stock has rallied 26.5% year to date, while the S&P 500 has gained 17.8%.
Browse topics:

Filter results by

Industry

Manufacturing (250)

Financial Services (207)

Retail (206)

Banks (183)

Health-care (183)

Food And Beverage (148)

Location

Us (1256)

Europe (24)

Canada (17)

Asia Pacific (13)

China (10)

Eu (10)

Link to MarketWatch's Slice.