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Aug. 3, 2015, 5:03 PM
- Community Health Systems (NYSE:CYH) intends to spin off 38 hospitals and Quorum Health Resources, LLC, a hospital management and consulting business, to CYH stockholders in a tax-free transaction that should be completed in Q1 2016. The new company will be named Quorum Health Corp. The hospitals are primarily located in areas with populations of no more than 50K. In 84% of these markets, the hospital is the sole provider of acute hospital services.
- On a pro forma basis, Quorum Health generated $2.1B in revenues and EBITDA of $255M in 2014.
- The company will host a conference call on Tuesday, August 4 at 11:00 am ET to discuss the transaction and Q2 results.
Aug. 3, 2015, 4:34 PM
- Community Health Systems (NYSE:CYH): Q2 EPS of $1.01 beats by $0.12.
- Revenue of $4.9B (+2.7% Y/Y) misses by $120M.
Aug. 2, 2015, 5:35 PM
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Jun. 29, 2015, 3:30 PM
- Becton, Dickinson (BDX +0.3%) upgraded to Buy from undefined with a $167 (18% upside) price target by UBS.
- Community Health Systems (CYH -0.9%) upgraded to Buy from Neutral with an $83.90 (33% upside) price target by Mizuho Securities.
- LifePoint Health (LPNT +2.8%) upgraded to Buy from Neutral with a $95.71 (11% upside) price target by Mizuho Securities.
- UnitedHealth Group (UNH -1.3%) upgraded to Buy from Neutral with a $126 (3% upside) price target by Sterne Agee CRT.
- Tenet Healthcare (THC -1.5%) upgraded to Outperform from Market Perform with a $64 (12% upside) price target by Wells Fargo.
- Cepheid (CPHD -1.7%) raised to Buy from Hold with a $75 (25% upside) price target by Craig-Hallum.
- Merge Healthcare (MRGE -0.1%) upgraded to Buy from Hold with a $5.75 (17% upside) price target by Topeka Capital.
- Alere (ALR -0.2%) upgraded to Buy from Neutral with a $60 (15% upside) price target by Goldman Sachs.
- Smith & Nephew (SNN -2.1%) upgraded to Buy from Neutral with a 1275p (16% upside) price target by UBS.
- Aerie Pharmaceuticals (AERI -4.3%) upgraded to Buy from Hold with a $40 (135% upside) price target by Canaccord Genuity.
Jun. 25, 2015, 10:26 AM| Jun. 25, 2015, 10:26 AM | 87 Comments
Jun. 12, 2015, 12:17 PM
- AMAG Pharmaceuticals (AMAG -1.5%) initiated with Hold rating and $75 (10% upside) price target by Deutsche Bank.
- Supernus Pharmaceuticals (SUPN +9.5%) initiated with Buy rating and $30 (70% upside) price target by SunTrust Robinson Humphrey.
- Plasmatech Biopharmaceuticals (PTBI -2.7%) initiated with Buy rating and $16 (118% upside) price target by Roth Capital.
- Horizon Pharma (HZNP -0.4%) initiated with Overweight rating and $38 (19% upside) price target by Morgan Stanley.
- Depomed (DEPO -2.1%) initiated with Equal Weight rating and $23 (10% upside) price target by Morgan Stanley.
- Community Health Systems (CYH +0.5%) initiated with Outperform rating and $65 (19% upside) price target by Wedbush.
- HCA Holdings (HCA -0.1%) initiated with Outperform rating and $93 (11% upside) price target by Wedbush.
- LifePoint Health (LPNT -0.2%) initiated with Neutral rating and $80 (5% upside) price target by Wedbush.
- HealthSouth (HLS) initiated with Neutral rating and $46 (3% downside risk) price target by Wedbush.
- Adeptus Health (ADPT -0.4%) initiated with Overweight rating and $106 (26% upside) price target by KeyBanc.
- Universal Health Services (UHS -0.1%) initiated with Neutral rating and $141 (7% upside) price target by Janney Capital.
- Owens & Minor (OMI -0.2%) initiated with Sector Perform rating and $35 (3% upside) price target by RBC Capital.
- Henry Schein (HSIC -0.6%) initiated with Outperform rating and $165 (16% upside) price target by RBC Capital.
May 5, 2015, 4:41 PM
- Community Health Systems (NYSE:CYH): Q1 EPS of $0.85 beats by $0.19.
- Revenue of $4.9B (+16.7% Y/Y) misses by $110M.
May 4, 2015, 5:35 PM
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Mar. 4, 2015, 7:21 PM
- Shares of hospital operators and some managed care providers turned in strong gains today after the U.S. Supreme Court entertained arguments on a case that questioned whether Obamacare health insurance subsidies should be provided in the 34 states that have not set up their own exchanges (transcript).
- The catalyst come from questions posed by Justice Kennedy - considered a swing vote on the issue - voicing concerns about potential constitutional consequences of a ruling that strikes down the availability of the subsidies.
- Kennedy said throwing out subsidies would potentially unlawfully pressure states and cause an insurance "death spiral" because premiums would increase, but he also said he had an open mind over the challengers' interpretation of the law.
- CYH +6.3%, THC +6.2%, HCA +5.8%, LPNT +3.6%, EVHC +3.6%, UHS +2.7%, TMH +2%.
Mar. 4, 2015, 12:11 PM
- Hospitals rally on comments from Supreme Court Justice Anthony Kennedy, often a swing vote in important cases. He says there is a powerful point to the Obama administration's argument that the Affordable Care Act would fall apart if the subsidies were ruled invalid.
- The Court is currently hearing arguments in the case King v. Burwell, which challenges federal subsidies in states that did not create their own health insurance exchanges. Its final decision will not be announced until June, though.
- Hospitals and health insurers have the most at stake. They have benefited greatly since the law was signed in 2010. To date, 11.4M Americans have signed up for coverage in 2015, giving both groups more paying customers and potentially cutting the number of non-paying emergency room visits. If the subsidies were ruled invalid then many people would drop coverage due to the higher cost.
- Related tickers: (HCA +6.2%)(THC +5.4%)(UHS +2.6%)(CYH +5.4%)(LPNT +3.3%)(SEM -0.9%)(SSY)(HUM +0.1%)(CI -0.4%)(CNC)(MOH +0.3%)(ANTM +0.5%)(UNH +0.3%)(MGLN +0.3%)(WCG +0.3%)
Feb. 20, 2015, 7:50 AM
- Community Health Systems (CYH +1.3%) Q4 results: Net Operating Revenues: $4,918M (+54.1%); Total Operating Expense: $4,441M (+50.6%); Operating Income: $477M (+96.3%); Net Income: $165M (+166.1%); EPS: $1.12 (+180.0%); CF Ops: $976M (50.6%).
- FY2014 results: Net Operating Revenues: $18,639M (+45.4%); Total Operating Expense: $17,259M (+45.2%); Operating Income: $1,380M (+48.5%); Net Income: $260M (+7.4%); EPS: $1.32 (-25.4%); Quick Assets: $509M (36.5%); CF Ops: $1,615M (+48.3%).
- 2015 Guidance: Net Operating Revenues less provision for bad debts: $19,600M - 20,600M; Adjusted EBITDA: $3,000M - 3,200M; Diluted EPS from continuing operations: $3.40 - 4.05; Same-store hospital annual adjusted admissions growth: 0.0 - 2.0%; CAPEX: $1,050M - 1,250M; CF Ops: $1,650M - 1,850M.
Feb. 19, 2015, 4:24 PM
- Community Health Systems (NYSE:CYH): Q4 EPS of $1.23 beats by $0.05.
- Revenue of $4.92B (+54.2% Y/Y) misses by $100M.
Feb. 18, 2015, 5:35 PM
Feb. 5, 2015, 9:04 AM
- Fourteen of 23 prominent hospitals contacted by Reuters have rolled out pilot programs of Apple's HealthKit service, which enables the remote monitoring of patient-generated health information, such as blood pressure, weight and heart rate, via an iPhone. The technology will potentially enable physicians detect early signs of trouble and to intervene accordingly in patients with chronic diseases like diabetes and hypertension before the situation becomes acute (and much more expensive).
- Google and Samsung have released similar services and have also begun to reach out to hospitals. This bodes well for patients and doctors alike.
- Related tickers: (NYSE:HUM) (NYSE:HCA) (NYSE:UHS) (NYSE:CYH) (NASDAQ:LPNT) (NYSE:SEM) (NYSE:ADPT) (NYSEMKT:SSY) (NYSE:THC)
Dec. 2, 2014, 10:22 AM
- Based on data collected from the analysis of medical records, the Centers for Medicare and Medicaid Services (CMS) report that U.S. hospitals saved 50,000 lives in 2013 by making 17% fewer medical mistakes. The improvement includes a 9% decline in hospital-acquired conditions such as infections, bedsores and pneumonia.
- Secretary of Health and Human Services (HHS) Sylvia Burwell is scheduled to announce the findings today at the CMS Healthcare Quality Conference in Baltimore.
- In 1999, the Institute of Medicine estimated that almost 100K people die each year from medical mistakes and poor quality of care. In 2010, the HHS inspector general estimated that poor care contributed to the deaths of 180K Medicare patients.
- One motivator for the improvement is a change in the way Medicare pays hospitals. Under updated rules, CMS reduces the reimbursement rate for hospitals that readmit too many patients within 30 days of discharge, an indicator of substandard care the first time.
- ETFs: IRY, IXJ,
- Hospital tickers: (HUM)(HCA +0.2%)(UHS -0.3%)(SEM +0.8%)(LPNT +0.4%)(CYH +0.3%)(SSY -0.2%)
Nov. 3, 2014, 4:32 PM
- Community Health Systems (NYSE:CYH): Q3 EPS of $1.01 beats by $0.25.
- Revenue of $4.8B (+49.1% Y/Y) misses by $120M.
- Shares -2%.
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