Pharmaceutical, biotech, and healthcare equipment research.
4 articles in Healthcare
Humana’s Q1 2026 operating cash flow surged 278% to $1.25B, confirming the Medicare Advantage actuarial crisis is stabilizing — while 22% membership growth and a CenterWell platform valued at zero in consensus models point to a trough-earnings setup with $25+ EPS by 2028.
CVS Health's Q1 2026 Aetna medical benefit ratio of 84.6% and five consecutive earnings beats confirm the turnaround is structural, not seasonal. Caremark's 11% revenue growth and 200bps GLP-1 share gain are the hidden growth engine.
Pfizer's April 2026 patent settlements quietly pushed the Vyndaqel franchise cliff from 2029 to mid-2031 — while a 39%-growing Padcev franchise and a hidden obesity option in Metsera remain priced near zero. The market hasn't caught up.
BMY trades at 9.3x P/E and a 4.5% yield while three forensic mispricings sit in plain sight: the Eliquis IRA cliff that didn't happen, a growth/legacy crossover already cleared in 2025, and a $14B Cobenfy option the Street is valuing at zero. Rating: BUY. 12-month target $78, multi-year intrinsic $95+.
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