In today’s briefing:
- ChiNext/ChiNext50 Index Rebalance Preview: Plenty of Overlap Between the Indices
- Liquid Universe of European Ordinary and Preferred Shares: April‘24 Report
- Regeneron Pharmaceuticals: Bolstering Cell Therapy Research with 2seventy Bio Acquisition! – Major Drivers
- Laboratory Corporation of America (LabCorp): Significant Growth Momentum In The Diagnostics & Women’s Health Can Revolutionize Growth? – Major Drivers
- Teladoc Health: Performance of Integrated Care and BetterHelp Are Encouraging Factors In 2024 & Beyond! – Major Drivers
ChiNext/ChiNext50 Index Rebalance Preview: Plenty of Overlap Between the Indices
- Nearing the end of the review period, we forecast 8 changes for the ChiNext Index (SZ399006 INDEX) and 5 changes for the ChiNext 50 Index in June.
- There are overlapping names for the two indices and some of the stocks will also have flows from the CSI Smallcap 500 Index – Shang (SH000905 INDEX) trackers.
- The potential adds have outperformed the potential deletes between 9-10% for both indices over the last month with the deletes dropping a lot more than the adds.
Liquid Universe of European Ordinary and Preferred Shares: April‘24 Report
- Since mid-March, spreads have generally widened across our European liquid universe of ordinary and preferred shares (5 have tightened, 12 widened, 2 remained at same level).
- Views are unchanged. Recommended trades long preferred / short ordinary shares: Danieli, Grifols, Media-for-Europe, Sixt, Volkswagen.
- Recommended trades long ordinary / short preferred shares: Fuchs, Henkel, SSAB Svenska Stal, Roche.
Regeneron Pharmaceuticals: Bolstering Cell Therapy Research with 2seventy Bio Acquisition! – Major Drivers
- Regeneron Pharmaceuticals Inc.’s latest earnings highlighted several critical developments and financial performance data that shape its investment appeal.
- Among the company’s accomplishments in 2023 were the FDA approval and successful launch of its EYLEA HD, a promising treatment for patients with wet age-related macular degeneration and diabetic eye diseases, which had strong start despite initial delays.
- Additionally, the company won a notable legal battle to preserve its intellectual property related to EYLEA, which deterred infringements from a biosimilar manufacturer, potentially deterring future biosimilar launches.
Laboratory Corporation of America (LabCorp): Significant Growth Momentum In The Diagnostics & Women’s Health Can Revolutionize Growth? – Major Drivers
- Laboratory Corporation of America Holdings’ Q4 2023 highlighted a robust performance, driven by strong base business revenue growth.
- Discussing Q4 results, revenues reached $3 billion, adjusted earnings per share was $3.30, and free cash flow from operations, excluding spin-related items, was $422 million.
- Enterprise revenue grew by 4% compared to Q4 2022, led by an 8% growth in the Diagnostics business and 7% growth in the Biopharma business.
Teladoc Health: Performance of Integrated Care and BetterHelp Are Encouraging Factors In 2024 & Beyond! – Major Drivers
- Teladoc health has shown growth in the previous year’s earnings with an increased focus on operating efficiencies and bottom line performance.
- The company delivered 33% growth in adjusted EBITDA and free cash flow of $194 million in 2023.
- Their selling season yielded double-digit bookings growth over the prior year, with around 75% being upsells or expansions with existing clients.
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