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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

CORT

Corcept Therapeutics Incorporated (NASDAQ:CORT) reported preliminary Q4 revenue of $135.4M, surpassing estimates of $127.85M, and full-year 2023 revenue of $482.4M, beating estimates of $474.82M. The company also provided a higher-than-expected 2024 revenue guidance of $600M–$630M, compared to the $513.85M estimate. Additionally, Corcept announced a $200M stock repurchase program. The company's financial growth is attributed to increased treatment rates for Cushing's syndrome with their medication, Korlym.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:28 pm

OFIX

Orthofix Medical has appointed Massimo Calafiore as President, CEO, and Board Member, effective immediately. Julie Andrews has been named CFO, with her role commencing on January 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:09 pm

MMM

3M (NYSE:MMM) will freeze its U.S. pension plans for non-union employees by Dec. 31, 2028. The freeze affects 3M and the future independent health care company's U.S. pension plans. Current pension-eligible employees will accrue benefits until the freeze date, while former employees with vested benefits and retirees are not affected. The company has been transitioning from pension plans to a 401(k) structure since 2009 to give employees more investment flexibility for retirement.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:03 pm

ACN

Accenture has made a strategic investment in QuantHealth through Accenture Ventures. The financial terms of the investment were not disclosed. This move could potentially enhance Accenture's capabilities in the health technology sector by leveraging QuantHealth's expertise.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:02 pm

CRDO

Six analysts have recently provided their ratings on Credo Technology Group (NASDAQ:CRDO), with all six maintaining a bullish stance. Over the past three months, there has been a positive shift in sentiment, with the average 12-month price target for CRDO increasing by 23.24% to $23.17. Analysts from firms including Needham, Goldman Sachs, Stifel, and Mizuho have raised their price targets, reflecting optimism about the company's prospects. Despite this, CRDO faces challenges with a -14.28% revenue decline, a net margin of -15.04%, and an ROA of -1.65%, indicating potential difficulties in profitability and asset utilization. However, a strong ROE of -1.9% and a low debt-to-equity ratio of 0.04 suggest effective use of equity and a healthy balance sheet.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 1:00 pm

UNH

UnitedHealth Group (NYSE:UNH) has seen a 35.19% increase in short interest since its last report, with 6.73 million shares sold short, representing 0.73% of its float. The short interest is below the peer group average of 3.70%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 1:00 pm

UBER

Uber Technologies (NYSE:UBER) has seen a 34.91% increase in short interest since its last report, with 73.59 million shares sold short, representing 3.71% of its float. The average time to cover these short positions is 1.07 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Uber's short interest is below its peer group average of 12.25%.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 1:00 pm

DASH

DoorDash (NASDAQ:DASH) received mixed analyst ratings in the latest quarter with 9 analysts offering their perspectives. The average 12-month price target for DASH is $104.11, a 15.31% increase from the previous target of $90.29. Analysts from firms like Jefferies, Deutsche Bank, and Needham have given bullish ratings with price targets ranging from $105.00 to $130.00. Others like Piper Sandler and Barclays have given more conservative ratings. DoorDash's financials show a strong market presence with a market cap above industry benchmarks, a positive revenue trend with 27.22% growth, but below-average net margin, ROE, and ROA. The company's debt-to-equity ratio is low at 0.08.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 1:00 pm

CDNS

Cadence Design Systems (NYSE:CDNS) has seen a 6.82% increase in short interest since its last report, with 2.88 million shares sold short, representing 1.41% of available shares. The short interest ratio is 1.61 days to cover. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. CDNS has less short interest compared to its peer group average of 3.53%.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 1:00 pm