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Equity Actions

Z

On CNBC, Josh Brown, a well-known financial analyst, announced that he has purchased shares of Zillow Group.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 5:33 pm

WBA

Walgreens Boots Alliance Inc. is considering a potential exit from its UK-based Boots drugstore chain, which could be valued at about £7 billion. The company is exploring options, including a London IPO, and may invite fresh offers for Boots. The process is expected to start next year at the earliest. Walgreens, now in cost-cutting mode under new CEO Tim Wentworth, had its credit rating cut to junk by Moody's due to high debt. The company previously attempted to sell Boots in 2022 but abandoned the effort due to unsatisfactory valuations and a turbulent credit market.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 5:32 pm

FTNT

Fortinet (NYSE:FTNT) has seen a 6.08% increase in short interest since its last report, with 12.31 million shares sold short, representing 1.92% of available shares. The short interest is below the peer group average of 4.67%. 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

December 12, 2023 | 5:30 pm

LGND

Ligand Pharmaceuticals provided a five-year outlook, projecting significant growth. The company anticipates a 16% CAGR in royalties from existing commercial programs and partnerships, potentially increasing to over 20% with future investments. Ligand expects total core revenue to reach approximately $290 million by 2028, with an EBITDA margin exceeding 80%. The adjusted diluted EPS forecast for 2028 is between $10.00 and $10.50.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 5:07 pm

ABL

Abacus Life's stock price is on the rise following the announcement of a $15 million stock repurchase program. The buyback plan signals the company's confidence in its financial health and future prospects, which could be a positive indicator for investors and may lead to an increase in shareholder value.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 4:47 pm

ISRG

Intuitive Surgical Inc. (NASDAQ:ISRG) stock rose by 0.14% in the current session, with an 8.81% increase over the past month and a 13.06% rise over the past year. The company's P/E ratio of 74.22 is higher than the Health Care Equipment & Supplies industry average of 56.13, suggesting that investors may expect better future performance but also raising concerns about potential overvaluation.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 4:46 pm

CNC

Centene Corporation's stock is trading higher following the announcement of its FY24 revenue guidance, which surpassed analyst estimates. Additionally, the company has authorized a $4 billion increase to its stock repurchase program.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 4:32 pm

EFX

Equifax (NYSE:EFX) has seen a 16.67% increase in short interest since its last report, with 3.66 million shares sold short, representing 3.36% of its float. The short interest is higher than the peer group average of 2.91%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. It takes traders approximately 4.37 days to cover their short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 4:30 pm

KNTK

Kinetik Holdings Inc (NYSE:KNTK) shares dropped 3.8% after announcing an increased secondary offering size to 6.5 million shares at $31.50 each. Apache Midstream LLC, a subsidiary of Apache Corporation, is the selling stockholder. Kinetik's officers and directors, including the CEO, plan to purchase 63,492 shares at the offering price. Kinetik will not receive any proceeds from the sale by Apache Midstream. KNTK's 52-week range is $26.32 to $37.17.

Portfolio Pulse from Henry Khederian

December 12, 2023 | 4:25 pm

CNC

Centene Corporation (NYSE:CNC) provided its 2024 financial guidance, forecasting revenues of $142.5 billion-$145.5 billion, above the consensus of $142.12 billion. The company expects GAAP diluted EPS greater than $5.61 and adjusted diluted EPS greater than $6.70, with a Health benefits ratio of 87.3% to 87.9%. Additionally, Centene announced a $4.0 billion increase to its stock repurchase program, supplementing the $1.2 billion remaining from the previous authorization. The company reaffirmed its 2023 guidance with premium and service revenues of $137.5 billion-$139.5 billion, a Health benefits ratio of 87.1% to 87.7%, and adjusted EPS of at least $6.60. CNC shares rose 3.86% to $77.12.

Portfolio Pulse from Vandana Singh

December 12, 2023 | 4:21 pm