Mon, Jun. 1, 1:12 PM
- In a regulatory filing, Tenet Healthcare (THC +0.1%) discloses that it has agreed to sell its St. Louis University Hospital to St. Louis University. The price is not specified, but it appears to be taking a loss on the deal considering its planned $150M - 160M pre-tax impairment charge this quarter ($95M - 100M after-tax). The transaction should close in Q3.
Mon, May 4, 4:48 PM
- Tenet Healthcare (NYSE:THC) Q1 results ($M): Revenues: 4,428 (+12.8%); Operating Income: 290 (+70.6%); Net Income: 47 (+246.9%); EPS: 0.47 (+242.4%); Quick Assets: 522 (+167.7%); CF Ops: (57) (-200.0%).
- Total admissions: 208.3M (+7.2%); Total patient days: 958.4K (+3.1%).
- 2015 Guidance: Revenues: $17.4B - 17.7B; Non-GAAP EBITDA: $2.05B - 2.15B; EPS: $1.32 - 2.40.
- Q2 Guidance: Non-GAAP EBITDA: $500M - 550M; EPS: $0.15 - 0.64.
- Shares are up 3% after hours on moderate volume.
Mon, May 4, 4:11 PM
Mon, Mar. 23, 7:03 AM| Mon, Mar. 23, 7:03 AM | Comment!
Mon, Mar. 23, 2:01 AM
- Tenet Healthcare (NYSE:THC) is poised to buy United Surgical Partners in a deal that could be worth more than $2.5B, WSJ reports, saying the acquisition could be announced as soon as today.
- United Surgical Partners, which operates more than 200 short-stay surgical facilities, is controlled by P-E firm Welsh, Carson, Anderson & Stowe.
Wed, Mar. 4, 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%.
Wed, Mar. 4, 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%)
Mon, Feb. 23, 4:17 PM
Mon, Feb. 23, 12:07 PM
- Among the additions to the index (which fuels the IBLN ETF) are EMC, Google (GOOG, GOOGL), Goodyear (NASDAQ:GT), Mohawk Industries (NYSE:MHK), PVH, Time Warner (NYSE:TWX), and Yahoo (NASDAQ:YHOO). There are three health care additions as well: Allergan (NYSE:AGN), Amgen (NASDAQ:AMGN), and HCA. The lone energy name added is Consol Energy (NYSE:CNX).
- Exiting the index are energy names Halliburton (NYSE:HAL) and National-Oilwell Varco (NYSE:NOV), along with healthcare companies AbbVie (NYSE:ABBV), Aetna (NYSE:AET), Humana (NYSE:HUM), and Tenet Healthcare (NYSE:THC). Citigroup (NYSE:C), CBS, Crown Castle (NYSE:CCI), and Michael Kors (NYSE:KORS) round out those subtracted.
- IBLN tracks the highest-conviction S&P 500 picks by hot-handed billionaires who built their fortunes through hedge funds and investing. The list of billionaires tracked is updated each October, and the equity components are rebalanced each quarter after sifting through regulatory filings.
- IBillionaire Index Rebalance
Sun, Feb. 22, 5:35 PM
Thu, Feb. 5, 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)
Mon, Jan. 12, 10:29 AM
- Tenet Healthcare (THC -6.2%) expects adjusted EBITDA of $2.05B - 2.15B this year. For 2014, adjusted EBITDA will be toward the upper range of $1.90B - 1.95B.
- For Q4 2014, same hospital adjusted growth in admissions was 4.8%, growth in inpatient admissions was 4.0%, paying admissions grew 6.1% and outpatient visits grew 9.5%. Exchange admissions were 3,768 (+11.0%).
- 2015 Guidance: Net revenues: $17.4B - 17.7B; adjusted EPS: $1.32 - 2.40; adjusted CF Ops: $1.15B - 1.25B; capex: $900M - 1.0B; admissions growth: 1.5 - 2.5%; adjusted admissions growth: 2.5 - 3.5%; exchange volume growth: 60 - 80%; net revenue per adjusted admission growth: 1.0 - 2.0%; controllable expenses per adjusted admission growth: 0 - 1.0%.
Dec. 25, 2014, 12:18 PM
Nov. 25, 2014, 2:46 PM
- "Not surprisingly, billionaires reduced their energy allocations (NYSEARCA:XLE) during Q3," says Direxion, unveiling the quarterly rebalance for the iBillionaire Index (which serves as the benchmark for the IBLN ETF). Attention was instead shifted to healthcare (NYSEARCA:XLV) and materials (NYSEARCA:XLB), with companies like Humana (NYSE:HUM) and Monsanto (NYSE:MON).
- Also added to the index: TMO, GM, FB, CBS, GOOG, MAS, APD, DAL, NOV, WHR, THC, ABBV.
- Dropped from the index: AIG, MCK, CTSH, MSI, RIG, CI, APC, GPS, MSFT, CMCSA, NFLX, MHFI, WMB, ICE.
- Outlying sectors: Consumer Discretionary (NYSEARCA:XLY) makes up 23.33% of the iBillionaire Index vs. 11.68% for the S&P 500, and Industrials (NYSEARCA:XLI) and financials (NYSEARCA:XLF) make up just 6.67% each of the index vs. 10.44 and 16.30 of the S&P 500, respectively. Consumer Staples (NYSEARCA:XLP) have zero representation in the index vs. 9.7% in the S&P 500.
- Previously: Direxion launched an ETF with iBillionaire today
Nov. 3, 2014, 4:19 PM
Oct. 14, 2014, 3:31 PM
- Global growth, foreign-exchange, oil, and small caps are the subject of every client inquiry, says David Kostin. His team's recommendation: Buy "American exceptionalism."
- In Kostin's view, U.S. economy and corporate fundamentals are still strong, with economic growth expected by Goldman economists to be 3.2% next year, the fastest expansion since 2005. Europe is expected to grow just 1%.
- What his team likes are those stocks of companies which have a high proportion of domestic sales, plus sectors like Consumer Staples (XLP -0.1%) and Discretionary (XLY +0.7%) which stand to benefit from lower oil prices (plunging again today).
- As for small caps (IWM +0.9%), Kostin is wary, noting downward earnings revisions have boosted small cap P/E ratios even as prices have declined.
- The list of S&P 500 names capturing two or more of Kostin's themes: GT, GM, PCLN, AMZN, CMCSA, LOW, DG, TSN, ADM, CVS, AVP, WAG, PXD, HAL, JPM, BAC, SCHW, PNC, MS, C, GNW, LNC, MET, THC, AET, UNH, ESRX, HUM, WLP, BIIB, GILD, DAL, CMI, FLR, CRM, JBL, MA, FB, MU, FSLR, VMC, MON, T.
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