|Bid||70.51 x 1000|
|Ask||70.65 x 900|
|Day's Range||70.48 - 71.51|
|52 Week Range||62.66 - 96.60|
|Beta (3Y Monthly)||0.70|
|PE Ratio (TTM)||25.74|
|Earnings Date||Oct 31, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||4.28 (6.04%)|
|1y Target Est||86.58|
About a dozen advocacy groups and unions, including Public Citizen and the American Federation of Teachers, wrote the Federal Trade Commission on Thursday urging it to consider blocking drugmaker AbbVie Inc's planned $63 billion purchase of Botox maker Allergan Plc . The combination of two of the world's biggest pharmaceutical companies, which was announced in June, would feature a portfolio that includes the world's top-selling medicine - AbbVie's rheumatoid arthritis drug Humira - as well as its cancer drugs and Allergan's blockbuster wrinkle treatment, Botox, and big-selling dry eye drug Restasis.
Revenue from AbbVie's inflammation treatment Humira will crash to $3 billion annually by 2025, an analyst said Thursday — but he upgraded AbbVie stock ahead of its Allergan buyout.
AbbVie’s acquisition of Allergan will create a new company churning out $20 billion in free cash flow a year, and that makes it worth buying, UBS’ Navin Jacob said Thursday.
AbbVie shares rose in Thursday trading after the drugmaker's stock was upgraded to buy from neutral at UBS. Analyst Navin Jacob also lowered the price target to $79 from $85. "We upgrade AbbVie to buy because its acquisition of Allergan leads to a Newco generating $20 billion-plus of annual free cash flow growing to a highly compelling, 9% free cash flow yield in '23E (year of Humira's U.S. patent expiry)," Jacob wrote in a Sept. 12 note.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does AbbVie (ABBV) have what it takes? Let's find out.
The past several weeks have been raucous ones for all stocks, but particularly wild ones for healthcare stocks. Not only is the future of the nation's healthcare market in flux, drug companies are facing an inordinate degree of litigation, and biopharma names have dished out plenty of R&D updates … some good, some bad.By and large, the bearish market-wide tide and the weakness healthcare stocks have suffered has become something of an opportunity. A handful of these names have become bargains and are ripe for recoveries. * 10 Stocks to Sell in Market-Cursed September To that end, here's a rundown of ten healthcare stocks to buy, even if they're surrounded by bad news and grim headlines. Some are familiar, and others are not. All of them, however, arguably boast more potential than risk at this time, even if not all of them have yet to reach their worst-case-scenario price.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Johnson & Johnson (JNJ)Source: Sundry Photography / Shutterstock.com Johnson & Johnson (NYSE:JNJ) has arguably faced the worst and most alarming headlines of late, facing not one but two major legal battles.The first one of course is its liability linked to asbestos contained in its talcum powder sold under the brand name Johnson & Johnson. The other? Some states' attorneys general are suggesting J&J was culpable for what's turned into a nationwide opioid addiction epidemic. A closer inspection of both matters reveals the ultimate liability for both may not be as dire as is currently believed.Though the state of Oklahoma recently won a case that will fine Johnson & Johnson $572 million for allowing opioid abuse to become a "public nuisance," that figure was smaller than shareholders had feared, and may point to similarly small figures in other state-level cases.As for its talcum powder woes, the company is prevailing in some state courts, and losing in others. With the exception of one case in California, the awards granted in cases it has lost have been relatively modest. AbbVie (ABBV)Source: Piotr Swat/Shutterstock AbbVie (NYSE:ABBV) shares are down nearly 50% from their early 2018 high, reaching another multi-month low in August.The underpinnings for that weakness aren't difficult to deduce. Aside from an increasingly tough battle to defend its patents on breadwinner drug Humira, the decision to acquire Allergan (NYSE:AGN) hasn't been a particularly popular one with shareholders.ABBV stock owners have also been disappointed by a couple of major busts on the R&D front. The company's work in turning Rova-T into a successful lung cancer treatment, for instance, was thrown away when AbbVie ended phase 3 trials after it failed to create meaningful results. * 7 "Boring" Stocks With Exciting Prospects The punishment, so to speak, hasn't fit the crime though. AbbVie now quietly rates as one of the top healthcare stocks to buy at its now greatly-lowered price thanks to a dividend yield of 6.44% that's reasonably well protected, and a forward-looking P/E of only 7.. CVS Health (CVS)Source: Shutterstock Admittedly, it remains unclear which sliver of the healthcare market will be the one to bear the brunt of any cost-cutting reform. Hospitals and insurers are just as targeted as pharmacy names like CVS Health (NYSE:CVS), which is a key part of the reason CVS stock has been nearly cut in half since the middle of 2015.That doubt is rooted in a paradigm shift that isn't likely to happen, however, or at least not as abruptly as some are fearing.Case in point: Just days after announcing plans to eliminate the rebate enjoyed by pharmacies and pharmacy benefits managers, President Donald Trump backpedaled. Although it's not clear where the pressure for the reversal came from, clearly someone is in the industry's corner.In the meantime, CVS is preparing for all contingencies. It now owns health insurer Aetna and is tiptoeing into the medical device arena. In July the company announced it was beginning trials of an at-home kidney dialysis solution. Bausch Health Companies (BHC)Source: n4i Via FlickrYou may recognize the name as one that has specialized in eye care for a long time now. And Bausch -- Bausch + Lomb, to be precise -- certainly still makes contact lenses and eye-surgery products. This is not the Bausch Health Companies (NYSE:BHC) in question, however. While Bausch Health owns and operates Bausch + Lomb, the Bausch that has earned a spot on a list of healthcare stocks to buy is actually the company formerly known as Valeant Pharmaceuticals.That name will also ring a bell for most investors … although not a good one. That's the company that went on an aggressive acquisition spree, planning on buying specialty drugs to then mark their price up to unnecessarily expensive levels.In addition to public outcry, congress got involved, ultimately forcing then-CEO Michael Pearson out, and forcing new CEO Joseph Papa to rebuild everything the company is, and does. * 7 Best Stocks That Crushed It This Earnings Season Surprise! He's doing it. Though it's still erratic and somewhat unpredictable, sales are expected to grow 1.6% this year, and 3% next. It's not much, but it's enough to drive real earnings growth. Intercept Pharmaceuticals (ICPT)Source: Shutterstock Intercept Pharmaceuticals (NASDAQ:ICPT) isn't an easy name to own. Although the biopharma outfit is driving major sales growth with its chronic liver disease drug Ocaliva, the company's a one-trick pony that's still losing money. Last quarter's top line of $66.3 million -- mostly Ocaliva -- was up 53% year-over-year, but still let Intercept book an operating loss of $63.6 million and a total net loss of $71.4 million.In this case though, the company's fiscal trajectory against the backdrop of an obesity epidemic translates into a bright future. Intercept Pharmaceuticals is also working on a nonalcoholic steatohepatitis (NASH) drug that takes aim at what is expected to be the leading cause of liver failure by 2020. That under-served market could be worth $50 billion, if not more, leaving this company amazingly well-positioned for growth. Pfizer (PFE)Source: Manuel Esteban/Shutterstock Stripping out last month's 20% stumble, Pfizer (NYSE:PFE) has been a pretty good bet in recent years. Thing is, the aspects that have made PFE stock one of the best healthcare stocks to buy for a long while now are still in place. That is, a diverse portfolio that doesn't lean too much on any one drug. No one product accounts for more than 10% of the company's total revenue.The selloff, for the record, was spurred by the decision to sell its 'off patent' drug business operating as Upjohn to rival Mylan (NASDAQ:MYL). The downside of that exit appears to be fully priced in now though, and then some. * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off In the meantime, a $500 million investment in a North Carolina manufacturing facility pushes the company deeper into gene therapy waters, which may offer more upside than existing business lines. PRA Health Sciences (PRAH)Source: Shutterstock When investors thinks of healthcare stocks, PRA Health Sciences (NASDAQ:PRAH) isn't a name that generally comes to mind. Indeed, most investors may have never even heard of it.The one who have heard of it, meanwhile, might be wishing they hadn't. Even with this year's choppy rebound effort, shares of the contract research organization are still down 19%.A bet against PRA Health Sciences hasn't been a particularly wise bet in the grand scheme of things. Contracted research is a key part of the future of healthcare, as outsourcing R&D becomes the more cost-effective solution.PRA Health has the numbers to prove it, too. This year's expected 6.4% revenue growth isn't jaw-dropping, but it's reliable, as will be next year's projected 8.4% top-line growth. Better still, that progress is driving even greater profit growth. Per-share profits are expected to reach $5.03 this year, up from last year's $4.28, and grow 13% to $5.68 per share next year. Alexion Pharmaceuticals (ALXN)Source: Shutterstock Last week, Alexion Pharmaceuticals (NASDAQ:ALXN) shares started what would end up becoming a 14% plunge. The selloff may not be done yet either. The prod? Amgen (NASDAQ:AMGN) is challenging Alexion's patent on Soliris, which is used to treat a trio of rare diseases. It makes up the bulk of Alexion's sales.It's an alarming development, although not one that's necessarily devastating. Right or wrong, running patent-based interference meant to disrupt other companies is the new norm within the pharmaceuticals arena, and there's not necessarily any assurance that Amgen will prevail. The chatter that Amgen could make an acquisition bid for Alexion still has its merits as well. * 10 Buy-and-Hold Stocks to Own Forever In the meantime, the forward-looking P/E of 9.9 suggests ALXN is priced cheaply enough to survive any profit-sharing agreement that Amgen may end up pursuing instead of an outright legal victory. Cigna (CI)While pharmacies and pharmaceuticals are certainly vulnerable to any sweeping overhauls in the way the United States healthcare industry works, it's not like the insurers are particularly well-shielded. Cigna (NYSE:CI), for instance, is down more than 30% since its early 2018 high on concerns about insurers' futures, after they all had a pretty good run between 2013 and 2017.Not everyone is concerned about one of a myriad of 'maybes' that could impact Cigna though.Alliance Bernstein analyst Lance Wilkes is one of those optimists. He recently upgraded CI stock while it was down, re-rating it at an "Outperform," explaining "We are increasing our price target and rating on [Cigna] based upon earnings growth driven from deal synergies and its low valuation, which we believe offset our [long term] concerns on policy risks and strategic position."CI stock is trading at only 14 times its trailing earnings, and only 8.2 times next year's expected profits. Eli Lilly (LLY)Source: Shutterstock Finally, add drugmaker Eli Lilly (NYSE:LLY) to your list of healthcare stocks to buy despite a recent wave of bad news.For Lilly, that's mostly been spurred by pipeline and portfolio questions. In March it announced it would launch a cheaper alternative to its own top-selling Humalog insulin, and early this year it decided to acquire Loxo Oncology at an unpopularly frothy premium.There's a reason that slide suffered during the first half of the year has started to reverse course beginning in early August. Not only did Lilly win the outcome it wanted in a recent arbitration claim regarding a collaboration it entered with Adocia to develop rapid-acting insulin, a phase 3 trial of its oral JAK inhibitor Baricitinib as a therapy for atopic dermatitis showed tremendous promise with last month's update.They're little victories that can really add up in investors' heads.As of this writing, James Brumley held no position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell in Market-Cursed September * 7 of the Worst IPO Stocks in 2019 * 7 Best Stocks That Crushed It This Earnings Season The post 10 Healthcare Stocks to Buy Despite the Headlines appeared first on InvestorPlace.
The largest Insider Buys this week were for AbbVie Inc. (ABBV), Keurig Dr Pepper Inc. (KDP), Corteva Inc. (CTVA) and Fox Corp. (FOX). Continue reading...
NORTH CHICAGO, Ill. , Sept. 6, 2019 /PRNewswire/ -- The board of directors of AbbVie Inc. (NYSE: ABBV) declared a quarterly cash dividend of $1.07 per share. The cash dividend is payable November 15, ...
Over the next five years, biosimilar copycats will hammer away at blockbuster medicines from pharmaceutical companies like AbbVie, Roche and the Dow's Johnson & Johnson, experts say.
Johnson & Johnson (JNJ) receives European Commission's (EC) approval for the label expansion of Stelara for the treatment of adults with moderately-to-severely active ulcerative colitis (UC).
AbbVie stock fell on its $63 billion plan to acquire Botox-maker Allergan, which helps the pharmaceutical company diversify as Humira patents expire. So, is ABBV stock a buy right now?
AbbVie failed big-time with its decision to buy Stemcentrx to get Rova-T. Here's what investors can learn from its mistake.
Bank of America believes that the S&P 500 will close 2019 unchanged, but see dividend payers as superior to bonds for the short and long terms.