18.15 -0.00 (-0.01%)
After hours: 4:00PM EDT
|Bid||18.03 x 900|
|Ask||18.03 x 900|
|Day's Range||17.68 - 18.96|
|52 Week Range||15.00 - 28.58|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 18, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||23.00|
One Medical is bringing its modernized, membership-based primary care model to Austin, and will partner with Ascension Texas to facilitate more seamless access and coordinated care across primary care and specialty care services. One Medical plans to launch in Austin with new medical office locations and its digital health services over the next 12 months, and will clinically and digitally integrate with Ascension Texas providers and sites of care in the community.
Fourth Quarter 2019 Net Revenue of $77.4 Million, a 33% Increase Year-Over-YearFull Year 2019 Net Revenue of $276.3 Million, a 30% Increase Year-Over-Year2019 Ending Membership.
NEW YORK, NY / ACCESSWIRE / March 18, 2020 / 1life Healthcare Inc (NASDAQ:ONEM) will be discussing their earnings results in their 2019 Fourth Quarter Earnings call to be held on March 18, 2020 at 5:00 ...
One Medical clinic operator 1Life Healthcare is Stock of the Day after surging on Super Tuesday results that showed Bernie Sanders' hopes have faded.
The premise is simple; Investors are after plentiful returns. What is entirely more complicated is the execution of the idea. Macrotrends, unforeseen headwinds, internal conflicts and disappointing quarterly statements, all have the potential to derail what at first appeared like a winning choice of investment.So, how to know which of the 3000’s of stocks Wall Street has on offer, present the most compelling opportunities? There multiple ways to find out, of course, but a well-trodden path is to follow the trail laid down by those in the know.To cut through the fog, banking giant J.P. Morgan has been releasing reports on three stocks that it believes will bring returns to investors despite a cloudy economic horizon. Interestingly, its research arm sees each surging by at least 20% in the year ahead.Running each stock through the Stock Screener tool at TipRanks, we’ve confirmed that J.P. Morgan is in the majority on Wall Street in recommending these equities. Let's take a closer look.Beam Therapeutics (BEAM)Fresh out of the box, we’ll start with Beam Therapeutics. Listed publicly only last month, this biotech developing precision genetic medicines, has been turning heads on the Street. Beam is up 26% above its offering price of $17, and some believe that further appreciation lies ahead.The company is building a diverse portfolio of treatments for various diseases, including sickle cell disease (SCD), acute myeloid leukemia (AML), and liver diseases. While still in early stages of research, the company’s unique approach is what could set it apart in the long run.Beam’s novel base editing technology differs from other gene editing CRISPR-based platforms in that it can accurately target the DNA’s single base pair and edit the DNA letter without cutting the molecule. CRISPR-based platforms, on the other hand, make double-stranded cuts to DNA which count on cellular mechanisms to repair the molecule and complete the edit, and therefore, are less accurate and efficient.J.P. Morgan’s Eric Joseph notes Beam’s “attractive commercial opportunity in likely lead SCD program, with best-in-class potential within the gene therapy landscape.”The 4-star analyst took the plunge and initiated coverage of the promising biotech with an Overweight rating and a price target of $31. With Beam currently trading at $23.55, a 30% gain could be in place should Joseph’s thesis play out. (To watch Joseph’s track record, click here)Joseph notes the high level of unmet need for the 25,000 patients in the US suffering with severe SCD. Beam’s proprietary base-editing gene therapy platform has the potential to address this issue.Joseph said, “Looking to sickle cell disease (SCD) as the likely lead indication from the ex vivo cell therapy portfolio (expected IND in 2021), we see an attractive ~$1.5B US peak opportunity, with differentiated manufacturing and clinical potential. Combined with a diverse array of programs in heme-onc, liver-mediated disease and retinopathy, we see an attractive setup for long-term value creation from the platform, with current share levels ascribing conservative success assumptions to the earlier stage pipeline.”The Street concurs. 3 additional Buy ratings add up to a Strong Buy consensus rating for BEAM. The average price target is $31, and implies upside movement of 34%. (See BEAM stock analysis on TipRanks)1Life Healthcare (ONEM)The next company on our list is another which only recently went public. 1Life Healthcare has been on the market since the end of January and made an instant splash, surging by 58% on its first day. The stock has pulled back since, but the company’s disruption of the primary care market could provide further upside in 2020, according to J.P. Morgan’s Lisa Gill.1Life (or One Medical as it is also known) is a membership-based primary care platform. By paying a $200 annual fee, members get access to more than 70 clinics across the country and 24hr digital health services, including telehealth appointments.According to fortune business insights, the global telehealth market size was valued at $49.8 Billion in 2018 and is projected to reach $266.8 Billion by 2026, exhibiting a CAGR of 23.4% between 2018 and 2026. As the demand for telehealth services grows, so could 1Life’s customer base.As with the majority of early stage healthcare technology companies, 1Life Healthcare currently operates at a loss. The primary care disruptor, though, has some heavyweights backing it up; Carlyle Group and Alphabet's Google Ventures are investors, with the latter also a big client, providing 10% of 1Life’s revenue.J.P. Morgan’s Lisa Gill foresees “significant addressable market opportunity with substantial runway for growth.”The 5-star analyst notes, “One Medical's unique offering is highlighted by a superior in-office patient experience vs. traditional primary care (convenient and inviting offices, longer, more high-touch visits), enhanced access (same/next day appointments, 24x7 digital access and coordination with health system partners for specialist care). The company delivers high quality care based on a longitudinal approach that treats patients more holistically, and can drive lower costs through fewer ER/urgent care visits, the avoidance of unnecessary specialist visits and also via improved employee productivity.”Gill pulls the trigger on ONEM with an Overweight rating and a $28 price target, indicating potential upside of 30%. (To watch Gill’s track record, click here)Out on the Street, 1Life receives a Moderate Buy from the analyst consensus, based on 5 Buys and 3 Holds. Should the average price target of $26.71 be met over the coming months, investors stand to pocket a 24% gain. (See 1Life stock analysis on TipRanks)Baidu Inc (BIDU)Shares of Baidu, or as it is commonly referred to in the west, China’s Google, have tumbled nearly 10% in the past 30 days. According to J.P. Morgan’s Alex Yao, the recent sell-off is too much of a good opportunity. The 4-star analyst believes the share price weakness and increasingly clear visibility on 2020 financials suggests a favorable risk-reward scenario for Baidu.Baidu’s recent fourth quarter print was strong; Revenue of 28.9 billion yuan ($4.15 billion)indicated an increase by 6% year-over-year and came in close to the high end of Baidu’s guidance. EPS of 26.54 yuan ($3.81), more than doubled from the same quarter last year, and beat the analysts' expectations of $3.66 EPS. Subscriber numbers for Baidu’s streaming business, iQiyi, continued to rise, too; up 22% year-over-year with total subscribing members reaching 106.9 million.Concerns about the company's advertising outlook, along with the unknown impact the coronavirus will have on future earnings have been noted as the likely reasons for the recent pullback. Yao notes, though, that while search engine marketing has entered a mature stage and, long-term, will probably lose ad market share to feed ad operators, the increased clarity provided by Baidu is the clincher.“The value of the 4Q19 print to investors is not in revealing the strength of the 2020 revenue outlook. Rather, the weak but more certain 1Q20 revenue guidance narrows the range of the possible revenue growth rate in 2020 (JPMe Baidu core revenue-2% in 2020 vs. +10% prior to the print). The reason that a weaker revenue growth outlook makes us more positive on the share price is a much stronger visibility, which plays a more important role in determining Baidu’s core multiple,” he said.Accordingly, the 4-star analyst upgraded his rating from Neutral to Overweight along with a hiking up of the price target. The figure rises from $130 to $150 and presents potential upside of 23.5%. (To watch Yao’s track record, click here)All in all, 8 Buys and 3 Holds provide Baidu with a Moderate Buy consensus rating. At $159.75, the average target price could provide upside of 35%, should the figure be met in the year ahead. (See Baidu stock analysis on TipRanks)
SAN FRANCISCO, March 04, 2020 (GLOBE NEWSWIRE) -- 1Life Healthcare, Inc. (One Medical) (ONEM) today announced that its fourth quarter and full fiscal year 2019 results will be released on Wednesday, March 18, 2020, after the close of the market. A live audio webcast will be available online at https://investor.onemedical.com. The conference call can also be accessed by dialing 1-800-258-1651 for U.S. participants, or 1-612-979-9928 for international participants, and referencing participant code 9174566.
The second Bay Area IPO of the year is marching towards its Wall Street debut on Thursday, while a microcap offering gets smaller.
Reynolds Consumer Products (NASDAQ:REYN), the maker of Hefty trash bags and Reynolds Wrap aluminum foil, sold 47.2 million shares at $26 each on January 30 for proceeds of $1.2 billion. The first billion-dollar listing of 2020, it is the largest offering by a household goods company.Source: iStockphoto The company marketed its stock at a price range of $25 to $28 a share. On the first day of trading, Reynolds stock gained a respectable 9.8%, closing at $28.55. While it didn't quite meet the first-day open of 1Life Healthcare (NASDAQ:ONEM), an operator of primary care clinics in the U.S. which gained 58% in its trading debut, Reynolds did show that boring names can deliver the goods for investors.Reynolds products aren't sexy, but it believes it's got a compelling investment thesis.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"What's attractive to investors about our company is steady proven growth over a long period of time," Reynolds Chief Executive Officer Lance Mitchell said in an interview. "We have a very consistent, durable demand and investment thesis that's compelling." * 7 Utility Stocks to Buy That Offer Juicy Dividends Here are seven reasons you shouldn't buy into the Reynolds IPO hype. Don't Buy The Hype: IPO Investors Got HosedSource: Shutterstock Reynolds, as I said in the intro, sold its shares to the public for $26 each. Based on 202.6 million shares outstanding after the IPO, it went public with a market cap of $5.3 billion. As I write this, it's trading above $30, an $800 million increase in its market cap in just three days of trading. That gives Reynolds an enterprise value of $8.5 billion on a pro forma basis.If you turn to page 51 of its prospectus, you will see that Graeme Hart, the company's owner and chief beneficiary of its IPO, contributed $77.2 million in equity to control 77% of the company post-IPO. For anyone that's counting, he paid 50 cents a share for his ownership stake.Meanwhile, IPO investors paid $1.2 billion or 26 cents a share for the remaining 23% of the company. That's quite a deal. Hart's $77.2 million investment is now worth $4.7 billion. How did he get to this point?Hart's private equity firm, Rank Group, acquired Reynolds from Alcoa (NYSE:AA) in December 2007 for $2.7 billion, much of the payment made with borrowed funds.In 2018, Hart said the following about his leveraged buyout strategy:"Be bold," Hart said in a speech at his alma mater in New Zealand. "That means buy as big as you can, borrow as much as you can and then work the asset as hard as you can."He did that at the expense of those buying IPO shares. It's Got a Ton of DebtSource: Photo from CreditRepairExpert Source: Shutterstock As I stated previously, a big chunk of the purchase from Alcoa was made with borrowed funds. Then, in 2010, Reynolds acquired Pactiv Corp., the maker of Hefty trash bags, for $4.4 billion and the assumption of $1.5 billion in debt. That was a significant acquisition for Reynolds because today, Hefty accounts for 46% of the company's overall revenue. Without it, Reynolds wouldn't have nearly as interesting a story to tell IPO investors. As the "Use of Proceeds" section states, Reynolds will use the net proceeds to pay down some of the $4.1 billion in debt it had before its IPO. It has arranged a new term loan facility of $2.475 billion, of which $2.45 billion of it will replace the old debt. It will also have a new $250 million revolving facility that is undrawn as of the IPO.The long and the short of it is that the company's long-term debt hasn't changed, but Hart and his related companies have gotten the funds they borrowed to buy and grow Reynolds repaid. * 7 Utility Stocks to Buy That Offer Juicy Dividends Again, remember that $77 million is all it took to build a company with an $8.5 billion enterprise value. Very Little GrowthSource: Shutterstock Source: Who is Danny / Shutterstock.com As CEO Mitchell stated in the interview I referenced in the introduction, Reynolds has a history of proven growth over a long period. For this reason, he believes Reynolds is a compelling investment.I see things a little differently. In 2014, Reynolds had sales of $2.72 billion. In 2018, it had annual sales of $2.81 billion. That's a compound annual growth of less than 1% in a period of reasonably healthy economic expansion. In my eyes, that's anemic growth, at best. The company's prospectus brags that of its four key areas of focus, two of them: Cost Reduction and Automation, have to do with cutting costs rather than growing the top line. Meanwhile, Reynolds' adjusted EBITDA grew from $523 million in 2014 to $647 million in 2018, a 5.5% CAGR. That, too, isn't what you would call hitting the leather off the ball.Sure, the company discusses paying out a quarterly dividend of 22 cents a share, but I suspect in 2-3 years, that will be the only thing attractive about REYN stock. Little Growth at a Reasonable PriceSource: Who is Danny / Shutterstock.com In the first nine months ended September 30, 2019, Reynold's adjusted EBITDA grew by 4.2% over the same period a year earlier, 130 basis points lower than its four-year average. I'll assume Reynolds' 5.5% growth rate stays intact for 2019. That works out to adjusted EBITDA of $674 million, which means its enterprise value of $8.5 billion is almost 13 times EBITDA.That's certainly not expensive when compared to other household products companies. However, the likelihood of the company's adjusted EBITDA growing at a pace that keeps up with its market cap and debt accumulation growth, suggests its valuation could get expensive in a hurry. Further, Reynolds' 2018 free cash flow was $448 million. If we assume it will be 10% higher in 2019, you get $493 million. Based on an $8.5 billion enterprise value, its free cash flow yield is 5.8%. That too isn't half bad. Again, just as in the case of adjusted EBITDA, it's likely not going to be increasing its free cash flow each year at the same pace as its market cap and debt accumulation, which means its free cash flow yield won't get more attractive in the years to come. This means you're buying REYN stock today for little growth at a reasonable price. Tomorrow, you'll be getting a low growth for a nosebleed valuation. * 7 Utility Stocks to Buy That Offer Juicy Dividends There are much better buys given the risk/reward profile. Innovation Can't Happen Fast EnoughOne of Reynolds' business strategies is to drive growth through new and innovative products. To that end, it says that 21% of its revenue in fiscal 2018 was from products that were less than three years old, exceeding its annual goal of 20%.Source: Shutterstock In the prospectus, it mentions several innovative products, including the Hefty Ultra Strong product line, which was named one of 2018's most innovative products, according to Nielsen. In fact, it mentions the words innovation or innovative 101 times in the prospectus. The problem is all companies push innovation these days. In its fourth-quarter conference call, Church & Dwight (NYSE:CHD) management mentioned these same words a total of 12 times. "We've really picked up the pace of innovation for vitamins. If you look at '17 and '18, we kind of averaged six new items a year, we had 22 new items in 2019, we got 17 more coming in 2020," stated Church & Dwight CEO Matthew Farrell. Reynolds sells aluminum foil, garbage bags, food and storage bags, party cups, etc. Innovation can be a good soundbyte, but there's not a whole lot of change the company can bring to the table. It's a Controlled CompanyAs I mentioned previously, New Zealand billionaire Graeme Hart owns 77% of Reynolds post-IPO (74% if the over-allotment is exercised). This means that Hart will be able to act in his own best interests rather than the company.Source: Shutterstock I realize that it doesn't make sense for someone to act against the best interests of a company they control because, ultimately, they might want to sell it. However, it happens more often than people realize. It's one thing to have a significant stake in a business, but when it's more than 50% of the outstanding shares, corporate governance often goes out the window.As an interesting aside, page 32 of the prospectus states that two subsidiaries of RGHL Group, which is owned by Graeme Hart, have defined benefit pension plans that are currently underfunded by $900 million. Should things go sideways with these pensions, Reynolds could find itself in the middle of a nasty lawsuit because it's a controlled company. * 7 Utility Stocks to Buy That Offer Juicy Dividends Now, the likelihood of this happening is remote, but it's something to consider when considering this slow-growth business, International Expansion Going Will Be ToughSource: Shutterstock Reynolds cooking and baking division generates a small amount of revenue outside the U.S. Here in Canada, where I live, it owns the Alcan brand of aluminum foil. It's very popular at Costco (NASDAQ:COST). Outside North America, it has the Diamond brand. In total, the company sells its wares in 54 different countries. However, it is the U.S. and Canada that account for 99% of its sales. It estimates that its addressable market outside North America is $7.2 billion. Based on $2.98 billion in 2018 annual sales, its international revenues were $298 million or just 4% of its estimated addressable market. While this seems like an obvious area of expansion for the company, it's important to remember that it participates in product categories that aren't exactly cutting edge or new to the world. Established brands outside North America aren't going to give up market share just because it says Reynolds or Hefty on the box. Whatever profitability Reynolds currently enjoys could partly disappear if it were to up spending outside North America. Therefore, I believe investors must view this opportunity as a double-edged sword. Be careful what you wish for because you just might get it. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Utility Stocks to Buy That Offer Juicy Dividends * 10 Gold and Silver Stocks to Profit Off 2020's Fear Trade * 3 Top Companies That Should Be More Careful With Your Data The post 7 Reasons Not to Buy Into the Hype Over Reynolds IPO appeared first on InvestorPlace.
SAN FRANCISCO, Feb. 04, 2020 (GLOBE NEWSWIRE) -- 1Life Healthcare, Inc. (One Medical) (ONEM) today announced the closing of its initial public offering of 20,125,000 shares of common stock at a price of $14.00 per share, which includes the full exercise of the underwriters’ option to purchase 2,625,000 additional shares of common stock. Including the option exercise, the gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by One Medical, were approximately $281.8 million. The shares began trading on The Nasdaq Global Select Market under the symbol “ONEM” on January 31, 2020.
One Medical, a membership-based primary care provider, soared during its public debut, opening at $18 per share after pricing shares at $14 on Thursday evening.