Progyny Inc., a benefits-management company backed by private-equity
firm TPG Inc., on Tuesday said it expects to sell 6.7 million shares at
$14 to $16 apiece in its initial public offering.
At the $15 midpoint of that range, the New York company focused on
fertility and family-building benefits said it expects net proceeds of
about $91 million.
Certain shareholders, including Germany’s Merck KGaA (MRK.XE), are
selling another 3.3 million shares in the IPO, for a total offering of
10 million shares, Progyny said.
Progyny will have about 82.2 million shares outstanding after the
IPO, according to a filing with the Securities and Exchange Commission,
for a market capitalization of roughly $1.23 billion at the $15-a-share
midpoint.
TPG, which isn’t selling any shares, will own about 25% of Progyny after the offering.
https://www.marketscreener.com/MERCK-KGAA-436395/news/Merck-Progyny-Inc-Sets-IPO-at-10-Million-Shares-Sees-Pricing-at-14-16-Each-29378916/
Tuesday, October 15, 2019
Insurers Rise With UnitedHealth Earnings Beat
Shares of managed-care companies rose after UnitedHealth Group posted better-than-expected third-quarter results and raised its profit guidance.
Anthem shares rose 6.9%, and those of Cigna rose 6%. Humana posted a 5% gain, while Centene shares rose 4.3%.
UnitedHealth posted sales of $60.35 billion for the third quarter, up 6.71% from the comparable quarter a year ago and beating the $59.76 billion analysts polled by FactSet had expected.
The Minnesota-based company’s earnings rose to $3.67 a share, up 13% from the comparable period last year. Analysts were expecting $3.55 a share.
The company said it expects profit for the full year to be between $14.15 a share and $14.25 a share, compared with its previous forecast of $13.95 a share to $14.15 a share.
https://www.marketscreener.com/UNITEDHEALTH-GROUP-14750/news/Insurers-Rise-With-UnitedHealth-Earnings-Beat-29379010/
Anthem shares rose 6.9%, and those of Cigna rose 6%. Humana posted a 5% gain, while Centene shares rose 4.3%.
UnitedHealth posted sales of $60.35 billion for the third quarter, up 6.71% from the comparable quarter a year ago and beating the $59.76 billion analysts polled by FactSet had expected.
The Minnesota-based company’s earnings rose to $3.67 a share, up 13% from the comparable period last year. Analysts were expecting $3.55 a share.
The company said it expects profit for the full year to be between $14.15 a share and $14.25 a share, compared with its previous forecast of $13.95 a share to $14.15 a share.
https://www.marketscreener.com/UNITEDHEALTH-GROUP-14750/news/Insurers-Rise-With-UnitedHealth-Earnings-Beat-29379010/
UnitedHealth Raises Profit Targets on Higher Sales
UnitedHealth Group Inc. boosted its profit guidance for the year as
revenue growth from its network of health services, premiums and
health-care plan membership fueled the company’s third-quarter
performance.
The company projects its 2019 per-share earnings to be between $14.15 and $14.25, compared with its previous forecast of $13.95 to $14.15. UnitedHealth said it expects adjusted per-share earnings to come in between $14.90 and $15 a share, compared with earlier projections of $14.70 a share to $14.90 a share.
The parent of the nation’s largest health insurer posted sales of $60.35 billion for the third quarter, up 6.71% from the comparable quarter a year ago and beating the $59.76 billion analysts polled by FactSet had expected.
Sales for the Optum health-services business grew 13.39% to $28.8 billion compared with the year-ago period. Sales for the UnitedHealthcare health-benefits platform grew 4.79% to $48.1 billion during the quarter as commercial and Medicare Advantage membership grew, UnitedHealth said.
Overall, earnings rose to $3.67 a share, up 13.3% from the comparable period last year. Analysts were expecting $3.55 a share.
UnitedHealth reported an adjusted profit of $3.88 a share, topping analysts’ estimates of $3.75 a share.
https://www.marketscreener.com/UNITEDHEALTH-GROUP-14750/news/UnitedHealth-Raises-Profit-Targets-on-Higher-Sales-29376653/?countview=0
The company projects its 2019 per-share earnings to be between $14.15 and $14.25, compared with its previous forecast of $13.95 to $14.15. UnitedHealth said it expects adjusted per-share earnings to come in between $14.90 and $15 a share, compared with earlier projections of $14.70 a share to $14.90 a share.
The parent of the nation’s largest health insurer posted sales of $60.35 billion for the third quarter, up 6.71% from the comparable quarter a year ago and beating the $59.76 billion analysts polled by FactSet had expected.
Sales for the Optum health-services business grew 13.39% to $28.8 billion compared with the year-ago period. Sales for the UnitedHealthcare health-benefits platform grew 4.79% to $48.1 billion during the quarter as commercial and Medicare Advantage membership grew, UnitedHealth said.
Overall, earnings rose to $3.67 a share, up 13.3% from the comparable period last year. Analysts were expecting $3.55 a share.
UnitedHealth reported an adjusted profit of $3.88 a share, topping analysts’ estimates of $3.75 a share.
https://www.marketscreener.com/UNITEDHEALTH-GROUP-14750/news/UnitedHealth-Raises-Profit-Targets-on-Higher-Sales-29376653/?countview=0
Abeona up 25% on positive long-term data on RDEB cell therapy
Abeona Therapeutics (ABEO +25.3%) is up on modestly higher volume on the heels of long-term results
from a Phase 1/2a clinical trial evaluating autologous gene-corrected
cell therapy EB-101 in patients with a rare inherited skin blistering
disorder called recessive dystrophic epidermolysis bullosa (RDEB).
Three years after treatment with EB-101, the
majority of patients experienced sustained wound healing, with 80%
(n=16/20) achieving at least 50% healing and 70% (n=14/20) achieving at
least 75% healing, superior to the 17% of untreated patients who
experienced at least 50% healing at year 2 (year 3 results not
provided).
50% or greater wound healing was associated with
no pain (n=0/16) or itch (n=0/16) three years after treatment compared
to 53% (n=20/38) and 61% (n=23/38), respectively, at baseline.
No new safety signals were observed and no replication competent virus was present at any time point.
A Phase 3 trial, VIITAL, is next up.
https://seekingalpha.com/news/3505838-abeona-25-percent-positive-long-term-data-rdeb-cell-therapyJ&J gains on Q3 beat; guidance raised
Johnson & Johnson (JNJ) Q3 results: Revenues: $20,729M (+1.9%); Consumer: $3,469M (+1.6%); Pharmaceuticals: $10,877M (+5.1%); Medical Devices: $6,383M (-3.1%).
Net Income: $4,833M (+22.9%); EPS: $1.81 (+25.7%); Non-GAAP Net Income: $5,672M (+1.5%); Non-GAAP EPS: $2.12 (+3.4%).
Key Product Sales: Remicade: $1,136M (-17.6%);
Simponi/Simponi Aria: $586M (+9.6%); Stelara: $1,698M (+29.6%); Tremfya:
$290M (+69.0%); Darzalex: $765M (+53.5%); Xarelto: $613M (+0.1%);
Zytiga: $741M (-22.7%); Imbruvica: $921M (+30.6%); Velcade: $149M
(-44.8%); Invega Sustennn/Xeplion/Trinza/Trevicta: $851M (+13.7%);
Edurant/rilpivirine: $218M (+7.9%); Prezista/Prezcobix/Rezolsta/Symtuza:
$508M (+3.7%); Precrit/Eprex: $198M (-22.4%); Opsumit: $347M (+11.7%);
Uptravi: $210M (+23.4%).
2019 Guidance: Revenues: $81.8B – 82.3B from $80.8B – $81.6B; Non-GAAP EPS: $8.62 – 8.67 from $8.53 – 8.63.
Shares were up 2% premarket.
https://seekingalpha.com/news/3505685-j-and-j-gains-q3-beat-guidance-raised
Neovasc nabs new patent in U.S
The USPTO has issued Neovasc (NASDAQ:NVCN), Patent No. 10,433,952, titled: “PROSTHETIC VALVE FOR AVOIDING OBSTRUCTION OF OUTFLOW”.
The granted claims are directed to a prosthetic
valve that helps reduce LVOT obstruction and improve unobstructed blood
flow through the Tiara and the native ventricle.
Shares are up 14% premarket.
https://seekingalpha.com/news/3505712-neovasc-nabs-new-patent-u-s-shares-14-percent-premarketKyowa Kirin’s Nourianz now available in U.S. for Parkinson’s
Kyowa Kirin (OTCPK:KYKOF) launches
NOURIANZ (istradefylline), an adenosine receptor antagonist in U.S. as
an adjunctive treatment to levodopa/carbidopa in adult patients with
Parkinson’s disease (PD) experiencing “off” episodes.
https://seekingalpha.com/news/3505724-kyowa-kirins-nourianz-now-available-u-s
https://seekingalpha.com/news/3505724-kyowa-kirins-nourianz-now-available-u-s
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