Reports Q1 revenue $, consensus $116.05M. Same store revenues for de novo and acquired clinics open for one year or more increased 4.7% in the most recent quarter. Visits increased 3.6% for de novo and acquired clinics open for one year or more while the same store net rate increased 1.0%. CEO Chris Reading said, “Despite a historically long and difficult winter our dedicated team of partners, clinicians and support staff got us started off on the right foot for 2019. Cost control coupled with good volume helped to create some meaningful margin improvement in all aspects of our business. With our recently announced industrial injury prevention acquisition coupled with continued opportunity, internally and externally, we look forward to a good year ahead.”
Thursday, May 2, 2019
Abbott receives WHO prequalification approval for HIV test
Abbott’s m-PIMA HIV-1/2 VL, the world’s first point-of-care viral load diagnostic test, has received the World Health Organization’s Prequalification approval. The test received CE Mark in December 2018. Viral load testing is the gold standard for monitoring ART treatment failure.
Teva sees free cash flow stronger in second half of 2019
Sees FY19 free cash flow $1.6B-$2B. Comments from Q1 earnings conference call.
Nuvectra price target lowered to $18 from $26 at JMP Securities
JMP Securities analyst David Turkaly noted a few negative takeaways from Nuvectra’s Q1 earnings call, foremost among them being news that the FDA has requested additional information as part of the pending PMA application for approval of its Virtis sacral nerve stimulation product and will collect supplementary data on the biocompatibility of the device’s leads. While he believes Nuvectra shares are already trading at a depressed valuation and keeps an Outperform rating on the stock, Turkaly lowered his price target on shares to $18 to reflect the extended timeline on Virtis and his lowered 2020 sales estimate.
Alcon initiated with an Outperform at Credit Suisse
Credit Suisse analyst Matt Miksic started coverage of Alcon (ALC) with an Outperform rating and a $66 price target. Recently spun off from parent Novartis (NVS), Alcon is now positioned to deliver improving growth and margins, the analyst contends. Miksic believes the key to the Alcon investment case is the opportunity to increase revenue growth and margins through expanded market share and its leadership positions in cataract, retinal surgery, contact lenses and consumer eye care.
Humana price target lowered to $315 from $352 at Credit Suisse
Credit Suisse analyst A.J. Rice lowered his price target for Humana to $315 from $352 following quarterly results given macro noise. The analyst reiterates an Outperform rating on the shares.
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