Target to $65 from $70
Friday, July 26, 2019
Zimmer Biomet EPS beats by $0.02, beats on revenue
Zimmer Biomet (NYSE:ZBH): Q2 Non-GAAP EPS of $1.93 beats by $0.02; GAAP EPS of $0.65 misses by $0.62.
Revenue of $1.99B (-1.0% Y/Y) beats by $10M.
Ventas Q2 beats, raises 2019 guidance
Ventas (NYSE:VTR) boosts 2019 guidance for FFO after a strong H1 2019.
Sees 2019 normalized FFO per share of $3.80-$3.86 vs. prior range of $3.75-$3.85; consensus estimate is $3.84.
Reaffirms previous overall and segment level same-store cash NOI growth guidance.
Q2 FFO per share of 97 cents beats the average analyst estimate of 95 cents and fell from $1.08 in the year-ago quarter.
Y/Y decline was primarily due to Q2 2018 full payoff of the Ardent Health Services loans and related fee recognition.
Q2 total revenue of $950.7M beats the consensus estimate of $931.2M; increased from $942.3M a year ago.
Q2 same-store total property portfolio cash net operating income rose 0.3%, in line with its expectations.
Excluding the impact of a cash fee of $2.5M received by the company in Q2 2018 from Brookdale, portfolio grew same-store NOI 0.9%.
Conference call at 9:00 AM ET.
Previously: Ventas FFO beats by $0.02, beats on revenue (July 26)
Euro advisory group back Bristol-Myers’ Empliciti combo for multiple myeloma
The European Medicines Agency’s advisory group CHMP has adopted a positive opinion backing approval of Bristol-Myers Squibb’s (NYSE:BMY) Empliciti (elotuzumab) plus Celgene’s (NASDAQ:CELG) Pomalyst (pomalidomide) and low-dose dexamethasone for the treatment of adults patients with relapsed/refractory multiple myeloma who have received at least two prior lines of therapy, including Celgene’s Revlimid (lenalidomide) and a protease inhibitor, and have experienced cancer progression on the last therapy.
A final decision from the European Commission usually takes ~60 days.
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