HUTCHMED (HCM) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
The average of price targets set by Wall Street analysts indicates a potential upside of 72.8% in HUTCHMED (HCM). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
On Wednesday, Hutchmed (China) Limited HCM entered into two agreements to divest its 45% equity interest in Shanghai Hutchison Pharmaceuticals Limited (SHPL) for approximately $608 million (RMB 4.478 billion) in cash to GP Health Service Capital Co., Ltd and Shanghai Pharmaceuticals Holding Co., Ltd.
Hutchmed (China), controlled by tycoon Li Ka-shing, is selling stakes in its health subsidiary for around $608 million as the billionaire and his flagship conglomerate look to ramp up capital and pivot towards core operations at the drugmaker.
I am upgrading PYCR to a buy rating due to optimistic mid-term guidance and strong earnings growth potential. PYCR's new guidance indicates sustainable mid-teens recurring revenue growth and >800 bps adj EBIT margin expansion, driving >20% adj EBIT growth. Successful upmarket traction, increased sales headcount, and strong broker relationships are key drivers of PYCR's positive outlook.
Shares of HUTCHMED (China) Ltd (HCM, Financial) surged 2.90% in mid-day trading on Oct 2. The stock reached an intraday high of $21.10, before settling at $20.58, up from its previous close of $20.00.
Paycor HCM, Inc. PYCR is expected to release earnings results for its fourth quarter, after the closing bell on Wednesday, Aug. 14.
Share price up nearly 20% since our previous Buy call. Approval of the colon cancer drug FRUZAQLA by the U.S. FDA was a game-changer to their growth in sales. We expect continued growth in sales of oncology products from the approval of FRUZAQLA in the E.U. and Japan.
HUTCHMED (China) Limited (NASDAQ:HCM ) Q2 2024 Earnings Conference Call July 31, 2024 8:00 AM ET Company Participants David Ng - Head:Investor Relations Wei-Guo Su - Chief Executive Officer & Chief Scientific Officer Johnny Cheng - Chief Financial Officer George Yuan - Head of Commercial Michael Shi - Executive Vice President, Head of R&D & Chief Medical Officer Conference Call Participants Alec Stranahan - Bank of America Chen Chen - UBS Clara Dong - Jefferies Adam McCarter - Cavendish Paul Choi - Goldman Sachs Julie Simmonds - Panmure Liberum David Ng Hello, everyone. Welcome to HUTCHMED 2014 Interim Results Presentation.
Paycom is recommended as a buy due to its long-term growth potential and strong value proposition with its BETI product. The global HCM software industry is expected to grow, providing opportunities for cloud-based HCM solutions like PAYC. The revised sales strategy and international expansion are expected to drive customer satisfaction and future growth for PAYC.