|Bid||0.00 x 2200|
|Ask||0.00 x 1000|
|Day's range||91.14 - 92.28|
|52-week range||78.74 - 96.06|
|PE ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.93|
|Expense ratio (net)||0.14%|
In the first quarter of fiscal 2019, Medtronic generated net revenues of $7.4 billion, a ~0.1% year-over-year (or YoY) decline. Wall Street analysts estimate that Medtronic will generate revenues of $7.3 billion in the second quarter of fiscal 2019.
On October 10, Abbott Laboratories (ABT) ended the trading day at $68.92, down ~3.3% from the previous day’s close. On the day, Morgan Stanley raised its target price on ABT stock from $70 to $80. However, the stock price dropped as the broader market sell-off pulled down ABT stock prices along with a large number of other healthcare stocks. The SPDR S&P 500 ETF (SPY) was down ~3.2% on October 10.
Yesterday, most healthcare stocks were trading below their previous day’s closing price. Biotech players seem to have been hit the worst. However, all other sectors including pharmaceuticals, medical devices, and hospitals saw significant weakness. Johnson & Johnson (JNJ), Boston Scientific (BSX), Pfizer (PFE), Merck (MRK), and Bristol-Myers Squibb fell 1.1%, 2.1%, 2.6%, and 3.9%, respectively, yesterday. Major biotechnology players Gilead Sciences (GILD), Amgen (AMGN), Biogen (BIIB), and Novo Nordisk (NVO) fell 2.30%, 2.33%, 2.04%, and 1.81%, respectively.
Wall Street analysts expect Celgene to report a net income and EPS of $1.2 billion and $1.71, respectively, in the third quarter.
On October 3, Allergan’s (AGN) stock price closed at $193.46, which is ~11.0% below its 52-week high of $215.10 on October 3, 2017. Allergan’s stock price grew from $164.05 at the open of the market on January 2 to $193.46 on October 3, which reflects ~18.0% YTD (year-to-date) growth. On March 5, Merck hit its 52-week low of $142.81.
The US jobs report for September was released on October 5. While the jobs report was mixed, there were enough signs that the labor market was tightening, which would eventually lead to wage growth gains.
Economists expect the US economy to add 180,000 jobs in September—below the 201,000 job additions reported in August and the average monthly gain of 196,000 over the previous 12 months. Economists’ estimate for job additions could have an upside, according to data from ADP and Moody’s Analytics. Based on the data released on October 3, private companies added 230,000 more jobs in September—much higher than the expectations of 184,000 jobs. The job additions were the highest level since 241,000 job additions in February.
The closing price for Mylan (MYL) stock on September 25 was $23.27, and its market capitalization stood at $19.4 billion. The stock registered its 52-week high of $47.82 on January 23 and its 52-week low of $30.73 on September 28. Currently, Mylan stock is trading above its 50-day moving average of $23.18 as well as its 200-day moving average of $21.39.
As of September 28, Edwards Lifesciences (EW) has registered a rise of ~52.5% YTD (year-to-date). In the same period, the S&P 500 has risen ~9.2%.
The S&P 500 health-care sector has been on a tear in recent months, on track for its best quarter in five years and surging to an all-time high on Friday. Names such as Eli Lilly, Biogen and Pfizer are among the biggest winners in the last three months, with double-digit gains. According to one chart-minded analyst, Biogen is one name in the space set to continue rallying.
On September 27, Edwards Lifesciences (EW) ended trading at a closing price of $172.16. The stock traded at its record high of $172.54 on September 27. The stock continued its bull run after it increased ~7.7% on September 25. A Wells Fargo analyst suggested Edwards Lifesciences or Boston Scientific as the potential acquisitions for Johnson & Johnson (JNJ). The company registered strong second-quarter results on July 26. However, the stock registered a fall of ~5.8% in the after-hours trading. Since then, Edwards Lifesciences stock has risen ~22%. ...
The technology sector climbed Thursday, helping the Nasdaq composite lead. But the health care sector was even stronger.
On September 24, UnitedHealth Group (UNH) ended the trading day at $267.36. The stock was marginally up ~0.26% from its previous day’s closing price. It hit its 52-week high of $271.16 on September 7. UNH stock was trading at its 52-week low of $186 on October 13, 2017.
On September 21, Johnson & Johnson (JNJ) stock closed at $142.88, ~0.63% higher than the previous day’s closing price of $141.98. JNJ stock returned ~2.4% last week and is currently trading above its 50-day and 200-day moving averages of $135.35 and $128.52, respectively.
Merck (MRK) stock has risen from $54.93 on January 2 to $70.42 on September 18—a 28.2% increase year-to-date. The performance of Merck stock has been closely related to the sales, clinical trial outcomes, and regulatory decisions for the company’s leading immuno-oncology drug, Keytruda. Approved in 13 indications and eight tumor types, Keytruda reported sales of $1.7 billion in the second quarter.
The S&P 500 has a big problem: too much return from a handful of technology stocks. It has a plan to fix that, and it goes into effect next Monday morning, when major tech stocks, including Facebook, Alphabet and Netflix, are on the move into new S&P sectors, with big implications for investors.
As of September 19, Abbott Laboratories (ABT) has registered a rise of ~17% YTD (year-to-date). In the same period, the S&P 500 has risen ~8%. Abbott Laboratories has clearly surpassed the market’s returns so far in 2018.
Currently, BSX stock is trading near its all-time high. Boston Scientific (BSX) stock has been on a bullish trend over the last year, driven by strong fundamentals, a robust acquisition strategy, and a diverse product pipeline. Why did BSX stock jump today?
On September 12, Johnson & Johnson (JNJ) stock closed at $139.36. That was a 0.61% rise from the previous day’s closing price of $138.51. Currently, JNJ stock is trading above its 50-day moving average of $133.29 and below its 200-day moving average of $127.99.
Eli Lilly (LLY) announced in a press release on September 10 that the company has initiated the IXORA-R head-to-head (or H2H) study evaluating the superiority of drugs Taltz (ixekizumab) and Tremfya (guselkumab) in patients with moderate-to-severe plaque psoriasis. The below chart shows key highlights for the IXORA-R H2H trial.
On September 5, UnitedHealth Group (UNH) ended the trading day at $267.64. The stock was marginally down from its previous day’s closing price. However, the stock registered its 52-week high of $270.17 last week on August 30. It was trading at its 52-week low of $186 on October 13, 2017.