Mon, Aug. 17, 3:34 PM
- With a rack of 13F filings on the weekend disclosing Q2 holdings, it turns out that Time Warner Cable (TWC +2.1%) was among the top adds by hedge funds and influential investors.
- The company -- in the long process of being acquired by Charter Communications (CHTR +3.6%) -- got new stakes from 7.7% of filers, according to WhaleWisdom.com, which tracks 196 funds. Among those, Soros Fund Management took a 1.45M-share position.
- Only Perrigo (PRGO +0.6%) was added by more filers, at 10.2%. Investors filing that they had opened new buys of TWC came to 16.7M shares added in aggregate.
- On the other hand: TWC was also eliminated by the highest percentage of filers -- 6.6%, getting rid of 8.89M shares. On a net basis, acquisitions of shares still outnumbered dispositions. The second-biggest stock eliminated was Applied Materials (AMAT +2.3%), cut by 6.1% of filers who shed 28.36M shares in aggregate.
- Previously: Buffett 13-F and media: Bought Charter, cut stake in Viacom (Aug. 14 2015)
- More 13F coverage
Tue, Apr. 21, 8:48 AM
- 50% stock and 50% cash
- The proposal gives Mylan (NASDAQ:MYL) shareholders a 37.7% premium to the stock price of Mylan on April 7, 2015, the last day of trading prior to Mylan's press release regarding its unsolicited proposal for Perrigo (NYSE:PRGO), and a 48.3% premium to the unaffected stock price of Mylan on March 10, 2015, which is the last day of trading prior to widespread speculation of a transaction between Teva (NYSE:TEVA) and Mylan.
- Expected to be significantly accretive to Teva non-GAAP EPS, starting in the mid-teens in year 1 and approaching 30% by year 3.
- Teva/Mylan product offerings would create a combined pipeline of over 400 pending ANDAs and over 80 first-to-files in the U.S.
- MYL +9.3% premarket to $74.40. TEVA +2.8% premarket.
- Source: Press Release
- Previously: Bloomberg: Teva offer for Mylan could come today (Apr. 21)
- Previously: Mylan says rumored Teva marriage would not makes sense (Apr. 20)
- Related: Why Does Mylan Want To Buy Perrigo? (Apr. 9)
Fri, Apr. 17, 2:30 PM
- The WSJ and Bloomberg report Teva (TEVA +3.4%) is weighing a bid to acquire fellow generic drug giant Mylan (MYL +5.5%), while adding no decision has been made yet. Shaes of both companies have spiked higher.
- Bloomberg's sources state Teva "hasn't made a formal approach yet," though Mylan is aware of Teva's interest. Many analysts have long expected Teva to go after Mylan, given many perceived top and bottom-line synergies. Teva is currently worth $66.2B, and Mylan $34.3B.
- Perrigo (PRGO -2.8%), which Mylan announced a $28.9B ($205/share) bid for last week, has moved lower on the news.
Wed, Apr. 8, 12:46 PM
Thu, Feb. 5, 7:33 AM
Apr. 21, 2014, 5:45 PM
Jan. 7, 2014, 9:58 AM
- BofA upgrades Perrigo (PRGO +1.2%) to Buy from Neutral. RBC starts the shares as a Top Pick, with a $187 price target.
- BofA upgrades Becton Dickinson (BDX +0.8%) to Neutral from Underperform.
- RBC upgrades Johnson & Johnson (JNJ +1.6%) to Outperform from Sector Perform. Price target is $104.
- Citi upgrades Varian Medical (VAR +1.6%) to Neutral from Sell.
- Roth starts ANI Pharma (ANIP +9.5%) at Buy. Price target is $27.
- RBC starts Teva (TEVA +0.1%) at Sector Perform. Price target is $39.
- RBC starts AcelRx (ACRX +2.5%) at Outperform. Price target is $15.
- RBC starts Mylan (MYL +2.3%) at Outperform. Price target is $50.
- RBC starts Allergan (AGN +1.3%) at Outperform. Price target is $131.
- RBC starts Impax Labs (IPXL +0.2%) at Sector Perform. Price target is $25.
Oct. 31, 2013, 8:35 AM
- Perrigo (PRGO) rises 2.6% premarket as the company easily beats Street estimates for FQ1.
- Revenue growth by segment: Consumer Healthcare, +19.5% (Sergeant's and Velcera acquisitions, existing product sales +$40M); Nutritionals, +24.8%; Rx Pharmaceuticals, +25% (Rosemont and Fera acquisitions); API, +18.5%.
- Full year guidance (excluding Elan): EPS of $6.35-6.60.
- Elan acquisition expected to be $0.10 accretive in FY14 and $0.70-0.80 accretive in FY15. (PR)
Sep. 10, 2013, 2:31 PM
- Perrigo (PRGO +0.3%) says it's landed final approval from the FDA for its abbreviated new drug application for a bubble gum-flavored cetirizine hydrochloride oral solution, the generic version of Children's Zyrtec Allergy Syrup.
- The company plans to begin shipments during the next cough, cold and flu season.
Aug. 15, 2013, 8:44 AM
- Shares of Perrigo (PRGO) slip 3.5% premarket after FQ4 revenue comes in well light of consensus, despite rising 16% Y/Y.
- Consumer healthcare segment results: The acquisitions of Sergeant's Pet Care Products and Velcera add $67M to FQ4 revenue while sales of existing contract and smoking cessation products rise $37M. Sales of existing gastrointestinal and analgesics products fall $34M for the period.
- Adjusted gross margin in the consumer healthcare segment rises 410 bps for the quarter.
- Rx Pharmaceuticals segment results: Net sales rise 24% to $195M helped to the tune of $16M by the acquisitions of Rosemont and the product portfolio from Fera. Prescription volumes look strong (existing product sales up $10M).
- Guidance for PRGO (not including any impact from Elan acquisition): FY13 EPS of $5.51-5.76.
- Elan is expected to add $0.10 to FY14 results and $0.70-0.80 to the bottom line in 2015. (PR)
Aug. 5, 2013, 1:00 PM
- Perrigo's (PRGO) recent deal for Elan has investors all jazzed up about Irish-domiciled healthcare companies.
- The allure of a 12.5% corporate tax rate could mean more M&A activity in the not-so-distant future for "anything with an Irish corporate tax structure," one analyst tells Bloomberg.
- Some of the names being tossed about: Jazz Pharmaceuticals (JAZZ +3.2%) and Alkermes (ALKS +3.8%).
May 7, 2013, 11:39 AMPerrigo (PRGO -3.7%) takes a hit this morning after its FQ3 result misses across the board. Net earnings fell 3.3% Y/Y, as the pharmaceutical supplier was hit by higher input costs and a big jump in tax expenses, which masked a 19% increase in net sales. All product categories within the segment grew from the year earlier, with sales in the nutritionals business in particular rising 13% to $133.3M. Gross margin also edged up to 36% from 35.9%, despite total operating expenses widening by 15%. | May 7, 2013, 11:39 AM | Comment!
Feb. 25, 2013, 3:32 PMPerrigo Company (PRGO +1.8%) trades higher after UBS upped the shares to Buy earlier today on valuation. The firm cites optimism over its generic testosterone gel 1%, which is a generic version of AbbVie's (ABBV -2%) AndroGel 1%, a treatment for adult males who have low or no testosterone. | Feb. 25, 2013, 3:32 PM | Comment!
Feb. 5, 2013, 2:29 PM
Feb. 1, 2013, 11:08 AMPerrigo (PRGO +5.3%) trades higher after its FQ2 results easily beat estimates this morning. Net earnings rose 6.2% Y/Y as the store-brand pharmaceutical and nutritional-products maker recorded strong revenue growth from its consumer health-care business, although margins narrowed on higher costs. The company also says it's bought pet-health company Velcera for $160M in an all-cash deal it's billed as a "natural extension" to its Sergeant's pet care product line. | Feb. 1, 2013, 11:08 AM | Comment!
Feb. 1, 2013, 9:10 AM
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