Wed, Sep. 16, 7:03 PM
- J.P. Morgan analysts warn that companies with large amounts of floating-rate debt - including Chesapeake Energy, Freeport McMoRan, Ford and GE - could be at risk if the Fed decides to raise interest rates.
- Companies with variable/floating-rate debt suffer a more immediate impact by a rate hike than companies with fixed-rate debt, the analysts say; variable-rate coupons typically reset quarterly, meaning that changes in the base rate flow through almost immediately to variable-rate borrowers, while fixed-rate borrowers do not see such an impact until they refinance or issue new debt.
- JPM lists 25 companies - not including financials - that have the “highest variable-rate debt as a percentage of market cap": FMC, NRG, FCX, AES, CVC, LVLT, PVH, CHK, FE, DVA, THC, OI, CNX, F, HCA, FOSL, RCL, JOY, GE, ADS, ALLE, HBI, GT, DNB, AN
Tue, Aug. 25, 5:35 PM
- investors should stick with "market darlings" - the 25 stocks that had performed the best during the six months before a market pullback - according to the analyst team at RBC.
- The firm notes that although many recent winners are leading the market lower, the extent of the underperformance is just 1%; it also says investing in the group following sharp market pullbacks is a winning strategy over the ensuing week, month and six months.
- RBC's 25 market darlings are AET, ALTR, AMZN, AIZ, CVC, CI, CAG, EA, EQIX, EXPE, GME, GOOGL, HAS, HCA, MNST, NFLX, NKE, PRGO, REGN, SBUX, TSO, TWC, TSS, UA, UHS
Wed, Aug. 5, 9:09 AM
- HCA Holdings (NYSE:HCA) Q2 results ($M): Net Revenues: 9,897 (+7.2%); Operating Expenses: 7,917 (+8.8%); Non-GAAP EBITDA: 2,008 (+0.4%); Quick Assets: 673 (+2.3%).
- Net Income: 507 (+5.0%); EPS: 1.18 (+10.3%); CF Ops: 1,057 (-15.4%).
- Admissions: 464,200 (+4.8%); Equivalent Admissions: 778,200 (+6.0%); Revenue per Equivalent Admission: 12,719 (+1.2%); Inpatient Surgery Cases: 131,800 (+2.4%); Outpatient Surgery Cases: 228,300 (+1.5%); ER Visits: 2,007,400 (+8.5%).
- 2015 Guidance: Net Revenues: $39B - 40B (unch); Non-GAAP EBITDA: $7.55B - 7.85B (unch but upper end of range); Non-GAAP EPS: $4.90 - 5.30 (unch); CAPEX: ~$2.5B (unch).
Wed, Aug. 5, 8:33 AM
Tue, Aug. 4, 5:30 PM
- AMSC, ANSS, ARIA, ARQL, ATHM, ATRO, AVA, AVT, BLT, CEQP, CHK, CLDT, CLH, CMLP, CONE, CRK, CRME, CSTE, CSTM, CTSH, D, DAVE, DISCA, DISH, DNOW, DNR, EE, ENBL, FI, GDP, GTN, HCA, HFC, HSC, ICE, INXN, KATE, KELYA, KERX, LDOS, LG, LINC, LIOX, LL, LPLA, MEMP, MSI, MSO, MWE, PCLN, PWR, RDC, RL, SALE, SBGI, SCMP, SE, SNAK, SODA, SPAR, SPB, SUP, TMHC, TWX, USAC, VC, VLP, VOYA, VSI, WCG, WD, WEN, WIX
Wed, Jul. 15, 4:53 PM
- HCA Holdings expects to report Q2 revenue of $9.897B and EPS of $1.18. The former is above a $9.77B consensus, but the latter is below a $1.32 consensus.
- Same facility admissions rose 4.1% Y/Y, same facility equivalent admissions 4.9%, and same facility emergency room visits 7.4%. Same facility revenue per equivalent admission is expected to be up 2.8% Y/Y, after factoring a $142M one-time adjustment.
- Adjusted EBITDA is now expected to be near the high end of a prior $7.55B-$7.85B guidance range.
- HCA -1% AH to $93.15. Formal Q2 results are expected to arrive on or about Aug. 5.
Thu, Jun. 25, 12:45 PM
Fri, Jun. 12, 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 $165 (16% upside) price target by RBC Capital.
Fri, May 22, 11:14 AM
- Major health insurers in some states are proposing rate increases of as much as 51% for plans sold under the federal health law, according to a WSJ analysis, setting the stage for an intense debate over the law’s impact.
- All the insurers cite high medical costs incurred by people newly enrolled under the Affordable Care Act, saying their proposed rates reflect the revenue they need to pay claims now that they have had time to analyze their experience with the law’s requirement that they offer the same rates to everyone regardless of medical history.
- Some insurers are trying to catch up with the impact of expensive drugs such as Sovaldi, foreseeing significant pent-up demand from the newly enrolled, says a fellow at the Society of Actuaries.
- Relevant tickers: IHF, HNT, UNH, MOH, CNC, UAM, AET, CI, HUM, HCA, WCG, GTS, EMCI, MGLN
Tue, May 5, 10:56 AM
- HCA Holdings (HCA -2.4%) Q1 results ($M): Revenues: 9,676 (+9.6%); Operating Expenses: 7,753 (+7.3%); Non-GAAP EBTIDA: 1,961 (+19.3%); Net Income: 591 (+70.3%); EPS: 1.36 (+78.9%); CF Ops: 586 (-31.1%).
- Admissions: 470,900 (+5.8%); Equivalent Admissions: 769,400 (+7.9%); Revenue Per Equivalent Admission: 12,576 (+1.5%); Inpatients Surgery Cases: 130,100 (+3.0%); Outpatient Surgery Cases: 214,500 (+1.9%); ER Visits: 1,982,000 (+12.3%).
- 2015 Guidance: Revenues: $39.0B - 40.0B from $38.5B - 39.5B; Non-GAAP EBITDA: $7.55B - 7.85B from $7.35B - 7.65B; Non-GAAP EPS: $4.90 - 5.30 from $4.55 - 4.95; CAPEX: ~$2.5B from ~$2.4B.
Tue, May 5, 8:32 AM
Mon, May 4, 5:30 PM
- ABMD, ACTA, AFSI, ALLT, AMAG, ANIP, BBEP, BBW, BLMN, BPI, CIE, CLDT, CRTO, CVLT, CYNO, DIS, DISCA, DTV, EIGI, EL, EMR, ENR, EXH, EXLP, GCAP, GLDD, GLT, GTN, GVA, H, HCA, HCP, HEP, HRC, HRS, HW, ICE, ISIS, K, KEM, KLIC, KMT, LPX, MDC, MDCO, MMP, MNK, MSO, NBL, NGLS, NNN, [[NTi]], NWN, ODP, OZM, PRIM, SABR, SALE, SBH, SCOR, SGNT, SMG, SNSS, SPAR, SRE, SSE, STWD, TDG, TECH, TGH, TRW, TW, UAM, USAK, VLP, VMC, VSH, WEC, WNR, YORW, ZTS
Wed, Apr. 15, 11:34 AM
- On a preliminary basis, HCA Holdings (HCA +2.5%) expects Q1 revenues of $9.675B (+9.5%), pre-tax income of $1.075B (+58.1%); adjusted EBITDA of $1.960B (+19.2%) and EPS of $1.35 (+77.6%).
- Same facility admissions increased 5.1%, same facility equivalent admissions rose 6.8% and same facility emergency room visits rose 11.5%. Same facility revenue per equivalent admission is expected to increase 1.6%.
- Updated 2015 Guidance: Revenues: $39.0B - 40.0B from $38.5B - 39.5B; Non-GAAP EBITDA: $7.55B - 7.85B from $7.35B - 7.65B; Non-GAAP EPS: $4.90 - 5.30 from $4.55 - 4.95; CAPEX: ~$2.4B (unch).
- The company will report final Q1 results on or about May 5.
Wed, Apr. 1, 3:30 PM
- Actavis (ACT -1%) should outperform following its purchase of Allergan, and FDA action dates for eluxadoline and cariprazine could also be catalysts.
- Though Occidental Petroleum is the team's top pick in energy, Anadarko (APC +1.1%) is the best short-term play on a recovery in oil prices.
- Strong fundamentals and easy year-over-year comps make AvalonBay (AVB -0.9%) a pick in apartment rentals.
- A favorable Supreme Court ruling in King vs. Burwell by the end of June provides plenty of upside possibility with little downside for HCA Holdings (HCA -0.8%).
- Also on the buy list are Ingersoll-Rand (IR -1.5%), Nvidia (NVDA +0.2%), UTX (UTX -1.1%), and Disney (DIS +0.4%).
- Making the underperform list is the Gap (GPS -2.2%) thanks to less room for cost cutting and a forecast for continued weakness in sales. Also a Q2 sell: Tesla (TSLA -1%) " lacks any real technological advantage over its competitors" says the team, seeing a significant Q1 loss, an increase in the already-high cash burn, and a questionable delivery outlook.
- Source: Benzinga
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%)
HCA vs. ETF Alternatives
Other News & PR