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☆ Year-end tax strategies may affect how much retirees pay for Medicare. Here's what to know
▼ + stars: | 2023-10-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

The change will result in an estimated Social Security retirement benefit increase of more than $50 per month, on average. The average monthly retirement benefit for workers will be $1,907, up from $1,848 this year, according to the Social Security Administration. "But remember, depending on your income, you may also be paying a lot more for Medicare," Franklin said. Medicare Part B premiums are based on incomeMedicare Part B covers physician services, outpatient hospital services, some home health care services, durable medical equipment and certain other services not covered by Medicare Part A. Medicare Part B premiums for 2024 have not yet been announced. This strategy may help reduce adjusted gross income and future Medicare premiums, Franklin said.

Persons: Mary Beth Franklin, Franklin, Roth Organizations: Social, Social Security Administration, Social Security, CNBC, Medicare Locations: Franklin

Gavin Newsom signed two major pieces of legislation Thursday to transform the state's mental health system and address the state's worsening homelessness crisis, putting them both before voters in 2024. The Democratic governor needs voters' approval because he wants to borrow billions of dollars through a bond to pay for the proposals. It would mark the first major update to the state's mental health system in 20 years. “The days of looking away are gone.”Voters in 2004 approved a special tax on millionaires that has been used to fund mental health programs. It's one of several efforts by Newsom to reform California's mental health system.

Persons: Gavin Newsom, Newsom, ” Newsom, “, Los Angeles Mayor Karen Bass, we're, ”, Democratic Sen, Susan Eggman, ” Dr, Mark Ghaly, We'll, Newsom's Organizations: —, Democratic, General, “, Los Angeles Mayor, ” Voters, California, Human Services Agency Locations: SACRAMENTO, Calif, — California, Los Angeles, California, L.A

☆ Gasoline, food drive US producer prices higher; core inflation cools
▼ + stars: | 2023-10-11 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The so-called core PPI increased 2.8% on a year-on-year basis in September after climbing 2.9% in August. Wholesale goods prices increased 0.9%, with a 3.3% rise in the cost of energy products accounting for nearly three-quarters of the increase. Excluding the volatile food and energy components, core goods prices edged up 0.1% for the second straight month. This mostly reflected the normalization of supply chains, whose disruption fueled goods inflation in the aftermath of the COVID-19 pandemic. Though core inflation is cooling, higher gasoline and food prices could hamper progress by raising the cost of other goods as well as causing consumers to expect inflation to rise.

Persons: Sarah Silbiger, Christopher Rupkey, Will Compernolle, Alex McGrath, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: El Progreso Market, Washington , D.C, REUTERS, Labor Department, Federal Reserve, Treasury, Reuters, PPI, Reuters Graphics, Trade, Fed, Thomson Locations: Mount Pleasant, Washington ,, WASHINGTON, New York, East, Greenville , South Carolina

☆ Why nursing schools are turning away applicants amid a major staffing shortage
▼ + stars: | 2023-10-05 | by ( Tami Luhby | ) edition.cnn.com time to read: +8 min

CNN —At a time when registered nurses are going on strike to protest staffing shortages, thousands of applicants who want to enter or advance in the profession are being turned away from nursing schools. Nearly 78,200 qualified applications were not offered spots at nursing schools last year, according to the American Association of Colleges of Nursing, which represents schools with baccalaureate and advanced degree programs. Staffing shortages are the main reason why nursing schools are not able to accept more students who want to become registered nurses. Staffing shortages are also a major factor in the current strike by more than 75,000 unionized employees, including registered nurses, at Kaiser Permanente. The national median salary for nursing school professors with master’s degrees is just under $89,000, according to the nursing college association.

Persons: preceptors, Preceptors, ”, Judith Jarosinski, Rick Garcia, David Auerbach, Cynthia McCurren, McCurren, Jarosinski, ” McCurren, Marie Ann Marino, Thomas, “, Marino, ” Marino Organizations: CNN, American Association of Colleges of Nursing, Salisbury University’s School of Nursing, Community, Organization, Nursing, Brandeis University, Kaiser Permanente, Bureau of Labor Statistics, School of Nursing, University of Michigan, Nurse.com, Thomas Jefferson University College of Nursing, Thomas Jefferson University, US Department of Health, Human Services, Loan, Salisbury School of Nursing, Faculty Academy, Maryland Higher Education Commission, Jefferson College of Nursing, Jefferson Health, Jefferson Locations: Salisbury, Maryland, Kaiser, Flint, Philadelphia

A new study from the Centers for Disease Control and Prevention warns that COVID-19 hospitalization is a “continued public health threat” that predominantly affects adults ages 65 and older. The study looked at hospitalizations from January to August and found that adults ages 65 and older accounted for 63% of all hospitalizations associated with COVID-19. Nearly all hospitalized individuals ages 65 and older had two or more underlying medical conditions. Despite the issues, uptake of the shot is likely to be significantly higher than the last round of boosters. Broken down by age group, about two-thirds of adults ages 65 and older are likely to get the vaccine.

Persons: ≥, Biden Organizations: Centers for Disease Control Locations: hospitalizations, U.S

☆ Kaiser Permanente strike: How patients say the strike is impacting their health care
▼ + stars: | 2023-10-05 | by ( Jennifer Korn | ) edition.cnn.com time to read: +6 min

New York CNN —Over 75,000 Kaiser Permanente unionized employees walked off the job Wednesday in the largest health care worker strike in US history. One of the largest health care organizations in the country, Kaiser has 12.7 million members, according to the company. As a bus driver for the Orange County Transportation Authority, “I need those legs to drive,” Signorio told CNN Tuesday, citing the long wait for care. Michael Signorio, a Kaiser Permanente member, talked about the effects of the ongoing strike with CNN's Natasha Chen on October 4. During the last few months most of his doctors appointments have been rescheduled and overall everything has been very slow,” Fidel Vasquez told CNN over email.

Persons: —, Kaiser, Michael Signorio, ” Signorio, “ I’ve, ”, CNN's Natasha Chen, “ We’re, “ I’m, I’m, Christina Campbell’s, “, ” Campbell, Jennifer Fry, ” Fry, haven’t, ” Fidel Vasquez, Vasquez, Julie Zuchowski, Zuchowski, ” Zuchowski, ” Larriesha, ’ Organizations: New, New York CNN, Kaiser Permanente, DC, CNN, Orange, Orange County Transportation Authority, Kaiser Locations: New York, California , Colorado, Washington , Virginia , Oregon, Maryland, Washington, Colorado , Oregon, California, Los Angeles, Sunset, Orange County, Kaiser

☆ Researchers link popular weight loss drugs to serious digestive problems for ‘hundreds of thousands’ worldwide
▼ + stars: | 2023-10-05 | by ( Brenda Goodman | ) edition.cnn.com time to read: +11 min

They can help people with diabetes control their blood sugar and lead to substantial weight loss for people with or without diabetes. Liraglutide was FDA approved as a weight loss medicine since 2014. What’s been less clear is whether patients taking these drugs for weight loss may have the same serious side effects. CNN reached out to Novo Nordisk, the manufacturer of both injectable weight loss drugs examined in this study, for comment. Sodhi said they started the man on a medication that treats stomach paralysis, “and he got a lot better,” Sodhi said.

Persons: Ozempic, ”, Mahyar, —, It’s, Liraglutide, it’s, Mohit Sodhi, Sodhi, Ian Musgrave, Musgrave, What’s, “, ” Sodhi, Dr, Sanjay Gupta Organizations: CNN, University of British, US Food and Drug Administration, FDA, “, University of Adelaide, Science Media Centre, BMI, Novo Nordisk, CNN Health Locations: University of British Columbia, Australia, Novo

☆ US inflation outlook brightens as underlying price pressures subside
▼ + stars: | 2023-09-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The personal consumption expenditures (PCE) price index, excluding the volatile food and energy components, edged up 0.1% last month. Economists polled by Reuters had forecast the core PCE price index would climb 0.2%. In the 12 months through August, the so-called core PCE price index increased 3.9%. It was the first time since June 2021 that the annual core PCE price index was below 4.0%. In the 12 months through August, the PCE price index advanced 3.5% after gaining 3.4% in July.

Persons: Conrad DeQuadros, Bing Guan, David Russell, Scott Anderson, Lucia Mutikani, Paul Simao Organizations: Federal Reserve, Commerce Department, Brean, Reuters, University of Michigan, Consumers, REUTERS, Treasury, Financial, BMO Capital Markets, Retailers, Thomson Locations: WASHINGTON, U.S, New York, SoHo, New York City, San Francisco

☆ Costco teams up with Google-backed health startup to offer $29 virtual doctor's visits to members
▼ + stars: | 2023-09-25 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Costco members will soon be able to receive low-cost health care through a partnership with Sesame. In addition to $29 virtual visits, Costco members will receive discounts on other services. Through a new partnership with Sesame, a healthcare marketplace startup backed by Google, Costco members can receive virtual doctor's visits for $29, plus discounts on other telehealth and in-person services, Sesame said Monday. The move into primary care follows similar investments by retailers Walmart and Amazon, as well as from pharmacies CVS and Walgreens. In addition to $29 virtual visits, Costco members will be able to receive virtual mental health sessions for $79, health checkups for $72, and a 10% discount on other services.

Persons: Sesame, —, David Goldhill, Goldhill Organizations: Costco, Walmart, Amazon, CVS, Walgreens, Service, Google, Costco Members, Bloomberg

☆ Kaiser Permanente patients are siding with its workers as they vote on whether or not to strike
▼ + stars: | 2023-09-04 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementVoting is underway among 85,000 Kaiser Permanente healthcare workers on whether or not to authorize what would be the largest healthcare strike in US history. But despite the possibility of an interruption to their healthcare, some Kaiser Permanente patients are siding with the workers. What the strike could mean for Kaiser Permanente patientsThe Coalition of Kaiser Permanente Unions represents employees across dozens of roles at the company, including admissions staff, cleaners, phlebotomists, surgery assistants, and others. Mike Blake/ReutersShort staffing prevents quality healthcare, Kaiser Permanente patients and workers sayShort-staffing is the No. Dardon said the union effort has received a significant amount of support from Kaiser Permanente patients.

Persons: Kaiser, Mark Mason, Mason, Keven, Dardon, Mike Blake, Miriam De La, there's, De La Paz, Mason he'd, Kaiser Permanente, we've Organizations: Kaiser Permanente, Permanente, Kaiser Permanente Unions, Coalition, Healthcare, Miriam De La Paz Locations: Oregon, Kaiser

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Amazon, Palantir, Exxon, Salesforce & more
▼ + stars: | 2023-08-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs reiterates Salesforce as buy Goldman said it's standing by its buy rating on the Salesforce after its earnings report on Wednesday. JPMorgan initiates Establishment Labs as overweight JPMorgan said in its initiation of the med tech company that Establishment Labs has a "unique offering." JPMorgan initiates MP Materials as overweight JPMorgan said in its initiation of the rare-earths materials company that it sees "solid demand growth." JPMorgan downgrades Hostess Brands to neutral from overweight JPMorgan downgraded the stock mainly on valuation. Redburn Atlantic upgrades Exxon to neutral from sell Redburn upgraded the stock mainly on valuation.

Persons: Evercore, Morgan Stanley downgrades Palantir, Morgan Stanley, Goldman Sachs, Goldman, it's, Salesforce, Rosenblatt, Wells, VSCO, Uber, Raymond James, it's bullish, Truist, Canaccord Organizations: BMO, Civitas Resources, Apple, Amazon, Shopify, " Bank of America, Nvidia, Bank of America, JPMorgan, Labs, Materials, Citi, Arista Networks, Arista, Evercore, JPMorgan downgrades Hostess Brands, Exxon, ExxonMobil Locations: United States, Sell

☆ Morgan Stanley names this little-known telehealth stock a top pick, predicts more than 30% upside
▼ + stars: | 2023-08-28 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

For investors who missed its earlier boom, now is the time to look into Lifestance Health Group again, according to Morgan Stanley. Lifestance is rated overweight at Morgan Stanley with a $10 price target, implying 32% upside over the next 12 months against Friday's close. LFST YTD mountain Lifestance Health Group stock. The company is the largest independent behavioral health player, according to the note, with 3% market share in a $35 billion total addressable market. The analyst said its market share gives it a "long runway for growth" and represents an "attractive compounding story."

Persons: Morgan Stanley, Craig Hettenbach, Friday's, clawing, Lifestance, Hettenbach, Michael Bloom Organizations: Lifestance Health Group, Lifestance, U.S

☆ Women and doctors challenge taboos on dangers of HPV in Egypt
▼ + stars: | 2023-08-25 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +8 min

The woman spoke to CNN on condition of anonymity, fearing ostracization from her community where the subject of sexually transmitted infections remains taboo. Cervical cancer is the fourth most common type of cancer among women globally, says WHO, and in 2020 it killed some 342,000 women globally. The ministry has also advised women to take the HPV vaccine. The HPV vaccine costs between 800 EGP ($25.9) to 1,000 EGP ($32) per dose. Other Middle Eastern countries have added the HPV vaccine to their national immunization programs, including Saudi Arabia, the United Arab Emirates and Libya.

Persons: CNN —, ”, ostracization, Lobna Darwish, Egypt’s, they’ve, “, Ola Arafa, Rafik Barakat, Arafa, ” Arafa, Barakat, ” Darwish, Nisreen Salah Omar Organizations: CNN, World Health Organization, WHO, World Bank, Egyptian, Personal Rights, Manchester, University of Mansoura, United Arab, Representatives, Mansoura University Locations: Egypt, Cairo, Mansoura, ”, Saudi Arabia, United Arab Emirates, Libya

☆ Gender Surgeries Nearly Tripled From 2016 Through 2019, Study Finds
▼ + stars: | 2023-08-23 | by ( Emily Baumgaertner | ) www.nytimes.com time to read: +3 min

Gender-affirming care has become a key political issue for conservatives in the run-up to the presidential election. According to the analysis, about 48,000 patients underwent surgeries from 2016 through 2020. Breast and chest surgeries were the most common: There were about 27,187, or 56.6 percent of all gender-affirming surgeries. Background: Recent developments in gender-affirming care. Earlier this month, the American Academy of Pediatrics reaffirmed its guidelines regarding the gender-affirming treatment but also commissioned a fresh review of the research, after European health authorities found uncertain evidence for its effectiveness.

Persons: “ There’s, ”, Jason D, Wright Organizations: Republicans, Columbia University Vagelos College of Physicians and Surgeons, Health, Agency for Healthcare Research, American Academy of Pediatrics

☆ Strong services costs lift US producer prices; inflation expectations dip
▼ + stars: | 2023-08-11 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Some said the downgrade to June's data meant the rise in the PPI last month was in line with expectations. In the 12 months through July, the PPI increased 0.8% after gaining 0.2% in June, boosted by a lower base of comparison last year. Excluding the volatile food and energy components, the so-called core goods prices were unchanged last month after falling 0.2% in June. In the 12 months through July, the so-called core PPI increased 2.7%, matching June's rise. As with all the July inflation data, the pick-up in the annual core PCE rate is due to unfavorable base effects.

Persons: Bill Adams, Will Compernolle, Eugenio Aleman, Raymond James, Lucia Mutikani, Andrea Ricci, Paul Simao Organizations: PPI, Labor Department, Federal Reserve, Comerica Bank, Reuters, Reuters Graphics, Treasury, Consumers, University of, CPI, Fed, Thomson Locations: August WASHINGTON, Dallas, U.S, New York, disinflation

☆ STIs are on the rise in the US. A pill taken after sex could help slow them down
▼ + stars: | 2023-08-11 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +14 min

Yet recent research suggests that one pill of the drug can be effective in preventing such infections among men who have sex with men if taken within 72 hours after unprotected sex. He added that any guidance from the CDC will help “fill gaps,” provide direction to clinics and offer a framework for using doxyPEP for STI prevention. “Drug resistance when taking doxyPEP is currently being studied in people using this treatment for STI prevention. “There are still many STI prevention and treatment gaps left to fill. “In STI prevention, we’ve been relying on tools that are decades, sometimes centuries old.

Persons: Dr, Jonathan Mermin, ”, doxyPEP, Stephanie Cohen, “, “ We’re, ” Cohen, ” David C, Harvey, ” Harvey, DoxyPEP, someone’s, Annie Luetkemeyer, gonorrhea, ” Luetkemeyer, Connie Celum, Kenya Medical Research Institute —, Jenell Stewart, Stewart, ” Stewart, Suneer Chander, Wisp, ” Chander, Sanjay Gupta, Mermin, Deidre McPhillips Organizations: CNN, US Centers for Disease Control, CDC’s National Center, HIV, CDC, San Francisco Department of Public Health, California Department of Public Health, San Francisco Department of Public, National Coalition, STD, “, New England, of Medicine, Zuckerberg San Francisco General Hospital, UCSF, University of Washington, Hennepin Healthcare Research Institute, Kenya Medical Research Institute, Hennepin Healthcare, University of Minnesota, PEP, Food and Drug Administration, CNN Health Locations: United States, San Francisco, Seattle, King County, Washington, Kenya, Hennepin

☆ Emergent BioSolutions to lay off about 400 employees
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

A nurse demonstrates the application of the NARCAN nasal spray medication at a outpatient treatment center in Indiana, Pennsylvania, U.S. August 9, 2017. REUTERS/Adrees Latif/File PhotoAug 8 (Reuters) - Emergent BioSolutions (EBS.N) on Tuesday decided to cut 400 jobs and scale back operations at some its facilities, pivoting its focus on core products such as overdose reversal nasal spray Narcan and anthrax vaccines. Smaller biotech companies have been struggling to finance drug development programs and that has hampered their ability to deliver on contract research services for over a year. The company had nearly 2,500 employees as of Dec.31, according to its regulatory filing. Emergent expects to incur an estimated cost of between about $19 million and $21 million in the third quarter of 2023.

Persons: Adrees Latif, Sriparna Roy, Shounak Dasgupta, Arun Koyyur Organizations: REUTERS, Thomson Locations: Indiana , Pennsylvania, U.S, Bayview, Baltimore, Canton , Massachusetts, Bengaluru

☆ Ransomware Attack Disrupts Health Care Services in at Least Three States
▼ + stars: | 2023-08-05 | by ( Rebecca Carballo | ) www.nytimes.com time to read: +1 min

CharterCARE Health Partners, a Rhode Island affiliate, said on Facebook Thursday that it had to reschedule some of its appointments and to revert to paper records. The Philadelphia Inquirer reported that computers were also down at Crozer Health facilities in Delaware County. “Prospect Medical Holdings, Inc. recently experienced a data security incident that has disrupted our operations,” the company said in a statement on Saturday. Waterbury Hospital, in Waterbury, Conn., said on Saturday that it was continuing to have disruptions. It also said that some of its outpatient and diagnostic imaging services had not been available on Friday or Saturday.

Persons: John Riggi Organizations: CharterCARE Health Partners, Rhode Island, Facebook, Philadelphia Inquirer, Crozer Health, “ Prospect Medical Holdings, Inc, Waterbury Hospital, American Hospital Association Locations: Delaware County, Waterbury, Conn

☆ Humana shares rise after insurer's medical costs came in lower than expected
▼ + stars: | 2023-08-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Humana shares rose Wednesday after the health insurer said medical costs came in lower than expected during its second-quarter earnings report. Humana reported a medical loss ratio, the percentage of premiums it spends on medical care, of 86.3% for the second quarter. Humana highlighted a "stabilizing Medicare Advantage utilization environment" based on the most recent claims activity, without elaborating. The company said in June it expected its second-quarter medical loss ratio to be toward the top range of its full-year outlook of 86.3% to 87.3%. Shares are down about 5% for the year after the broader health-care sector took a beating in June, putting the company's market value at around $60 billion.

Persons: Humana Organizations: Humana, UnitedHealth

CNN —Russian strikes on Odesa overnight damaged at least six residential buildings, a Ukrainian Orthodox Church and “architectural monuments,” according to Ukraine’s southern Operational Command. Ukraine has been struggling in the past week to repel a wave of Russian strikes against Odesa – its air defenses unable to cope with the types of missiles that Moscow has used to pummel the region. In a statement on Sunday, Ukrainian President Volodymyr Zelensky condemned Moscow’s latest strikes on Odesa. “Missiles against peaceful cities, against residential buildings, a cathedral… There can be no excuse for Russian evil,” Zelensky said. “As always, this evil will lose and there will definitely be a retaliation to Russian terrorists for Odesa.

Persons: Odesa, Volodymyr Zelensky, Moscow’s, ” Zelensky, ”, “, Oleh Syniehubov, ” Syniehubov Organizations: CNN, Orthodox Church, Operational Command, “, Odesa, Telegram . Civilian Locations: Ukraine, Moscow, Russian, Kharkhiv, Dvorichna, Kharkiv, Chuhuiv, Kupyansk

☆ A psychiatrist charges $700 hourly to Wall Street elites who are 'terrified of being exposed' for drug and sex addictions
▼ + stars: | 2023-07-14 | by ( Will Gendron | ) www.businessinsider.com time to read: +5 min

Among high-powered finance executives, mental health struggles and addiction can be seen as taboo. Dr. Sam Glazer specializes in this clientele, charging $700 for a 45-minute session, WSJ reported. These executives are willing to spend on Glazer's expertise, who charges $700 for a 45-minute session, the Journal reported. "I've seen a lot of people who are high functioning in the upper levels of finance who are terrified of being exposed," Glazer told the WSJ. "They are completely honest with me in my office," he told Insider.

Persons: Sam Glazer, —, Glazer, Alden Cass, Cass, It's, Today undercuts Organizations: Morning, Wall Street, NYU, Deloitte, Finance, Today

☆ UnitedHealth stock jumps after earnings top estimates despite rising medical costs
▼ + stars: | 2023-07-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

UnitedHealth Group' s stock price jumped Friday after the health-care conglomerate reported second-quarter revenue and adjusted earnings that topped Wall Street's expectations despite rising medical costs. UnitedHealth Group is the biggest health-care company in the U.S. by market cap and revenue, and is even bigger than the nation's largest banks. Given its size, UnitedHealth Group is considered a bellwether for the broader health insurance sector. UnitedHealth Care said that was driven by the previously noted uptick in elective surgeries and outpatient care activity, primarily among seniors. But UnitedHealth Group executives indicated that the trend may be reversing.

Persons: UnitedHealth, –, John Rex, Rex, Goldman Sachs Organizations: UnitedHealth, Refinitiv, Healthcare, Analysts, Goldman, Rex . Insurance Locations: Minnesota, U.S

☆ Beware of these possible blowups this earnings season, Wolfe Research warns
▼ + stars: | 2023-07-13 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

"Our quarterly earnings quality (EQ) score is an objective way to identify potential accounting related short ideas and as a risk tool to avoid potential blow-ups in the portfolio," Senyek said. CNBC pulled six stocks from the Wolfe list across a range of sectors. Rivian made the list with an earnings quality score of just 3. Shockwave Medical , meanwhile, fits on the Wolfe list due to issues pertaining to cash flow constraints and research and development amortization. In consumer staples, Dick's Sporting Goods is on the Wolfe list with a rating of 9 out of 100.

Persons: Wolfe, Chris Senyek, Senyek, Rivian, Morgan Stanley, Dick's, — CNBC's Michael Bloom Organizations: CNBC, FactSet, Shockwave, ShockWave, Centers, Medicare, Medicaid Services, Sporting Goods, Lucid

☆ 3 health-care stocks are in the headlines. How the news impacts our investments
▼ + stars: | 2023-07-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

In April, alongside its first-quarter results, J & J raised its full-year sales guidance by about $1 billion and its earnings-per-share outlook by 15 cents. Clearing this overhang would help reduce the discount at which J & J shares to pharmaceutical peers, the firm said. The Club's take: JPMorgan's thinking on J & J aligns quite closely with our own. The dark cloud of talc lawsuits continues to keep a lid on J & J's stock price. Joaquin Duato, chief executive officer of Johnson & Johnson, at the company's headquarters in New Brunswick, New Jersey, U.S., on Thursday, April 21, 2022.

Persons: Johnson, Eli Lilly, J, Wells, Wells Fargo, Eli Lilly's, —, Eisai, Biogen, Bloomberg, we've, Jim Cramer's, Jim Cramer, Jim, Joaquin Duato, Amir Hamia Organizations: Johnson, JPMorgan, pharma, U.S ., Humana, UnitedHealth, Bloomberg, U.S, Mayo Clinic, Club, GE Healthcare, CNBC, Getty, & $ Locations: U.S, California, Wells Fargo, Rochester , Minnesota, New Brunswick , New Jersey

☆ Morgan Stanley upgrades this medical device maker, says Street is underestimating its core product
▼ + stars: | 2023-07-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Wall Street is underestimating the opportunity for a cardiovascular medical device company's core product to penetrate the market, according to Morgan Stanley. Analyst Patrick Wood upgraded shares of Shockwave Medical to overweight from in-line, saying the Street is misjudging the potential catalysts that could improve the sales outlook for its coronary IVL catheter used before stent implantation, and that consensus expectations look "too low." Given this setup, Wood lifted his price target to $335 a share, reflecting 28% upside from Friday's close. SWAV YTD mountain Share performance in 2023 Potential catalysts for Shockwave shares include an investor day, a favorable environment for medical technology and an extended timeline before it faces new competition, Wood said. "We think recent coronary reimbursement improvements from CMS mean the market is underestimating the penetration opportunity over the coming 2-3 years," Wood wrote.

Persons: Morgan Stanley, Patrick Wood, Wood, — CNBC's Michael Bloom Organizations: Shockwave, Centers, Medicare, Medicaid

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