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ELV

Elevance Health (NYSE:ELV) has delivered an average annual return of 18.26% over the past 15 years, outperforming the market. A $1000 investment in ELV 15 years ago would be worth $11,719.48 today. The company's current market capitalization stands at $112.79 billion.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 2:00 pm

BMY

NVO

PRTA

RHHBY

Prothena Corporation provided updates on its clinical programs, including PRX012 and PRX123 for Alzheimer's disease, and birtamimab for AL amyloidosis. The company also highlighted its partnered programs with Bristol Myers Squibb, Roche, and Novo Nordisk for various treatments. Prothena reported having around $621 million in cash, cash equivalents, and restricted cash at the end of 2023, indicating a strong financial position to support ongoing clinical trials.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:49 pm

BTCUSD

A study by Coingecko Research based on Google Trends data from January 2019 to January 2024 shows Luxembourg, St. Helena, Singapore, and Switzerland have the highest interest in Bitcoin ETFs, surpassing the US, which ranks 12th. The US shows relatively even interest across states, with Nevada leading. The study also notes that 4 of the top 15 interested countries already have spot Bitcoin ETFs. BTC price is up 1.6% at $45,003.

Portfolio Pulse from Mehab Qureshi

January 08, 2024 | 1:42 pm

FMS

Fresenius Medical Care (FMS) has made significant progress in its Portfolio Optimization Program by divesting noncore assets and exiting certain markets. The company sold its operations in Argentina to Grupo Olmos, its National Cardiovascular Partners (NCP) business in the US, and signed a deal to sell Cura Day Hospitals Group in Australia to ICG and a consortium. These divestitures, which include 127 facilities and over 4,500 employees, are expected to generate around EUR 500 million in proceeds, with EUR 135 million recognized in Q4 2023. The divestments will result in a EUR 50 million operating income impact treated as a special item. The optimization aims to improve the leverage ratio and focus on more profitable and strategically fitting businesses.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:37 pm

KIDS

OrthoPediatrics Corp. (NASDAQ:KIDS) has acquired Boston Orthotics & Prosthetics for $22M in cash. The acquisition expands OrthoPediatrics' Specialty Bracing division and its presence in the pediatric orthopedic specialty bracing market. To finance the acquisition and future business needs, OrthoPediatrics closed an $80M debt financing deal with MidCap Financial, replacing a prior $50M credit line. Boston O&P, with a history of profitability and approximately $25M in annual revenue, brings a portfolio of advanced bracing technologies and maintains 26 clinics across the U.S. The acquisition aims to support the continuum of care for pediatric orthopedic patients and address unmet needs in non-surgical orthopedic treatment markets.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:20 pm

BROS

Dutch Bros Inc. expanded significantly in Q4 2023, opening 37 new shops, with 32 being company-operated. Throughout 2023, they opened 159 new shops, 146 of which were company-operated. The company anticipates opening an additional 150-165 shops in FY24.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:15 pm

BLUE

bluebird bio provided an update on its financial status and commercial launch plans for its gene therapies. The company reported approximately $275M in cash and cash equivalents, including restricted cash of about $53M. It anticipates 85 to 105 patient starts in 2024 across its commercial portfolio, with the first patient start for LYFGENIA expected in Q1 2024. bluebird has established agreements covering approximately 200 million U.S. lives and expects its funds to support operations into Q1 2025.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:11 pm

RPTX

Repare Therapeutics has provided a corporate update, outlining key milestones expected in 2024. The company concluded 2023 with about $223 million in cash, cash equivalents, and marketable securities. This financial position is projected to support its planned operations until mid-2026.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:48 pm

FRT

Federal Realty Investment Trust has announced a private placement of $400 million in exchangeable senior notes due in 2029, with an option for initial purchasers to buy an additional $60 million in notes. This financial move could impact the company's leverage and interest expenses.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:32 pm

AVDL

Avadel Pharmaceuticals provided a business update, revealing that it held approximately $105 million in cash, cash equivalents, and marketable securities as of December 31, 2023. The company also estimated net product revenue of about $19 million for the quarter and $28 million for the year ended on the same date.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:20 pm