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Sectors

Sector Update: Healthcare Stocks Mixed Late Afternoon

Healthcare stocks were mixed late Thursday afternoon, with the NYSE Healthcare Index easing 0.1% and the State Street Healthcare Select Sector SPDR ETF (XLV) fractionally higher.The iShares Biotechnology ETF (IBB) decreased 0.7%.In corporate news, Prestige Consumer Healthcare's (PBH) officials said Thursday that weak eye care sales and a difficult consumer backdrop drove disappointing fiscal Q4 results at the consumer healthcare products company. Its shares were down past 11%.Biogen (BIIB) shares fell nearly 7% after the firm said Thursday that a phase 2 trial of diranersen in people with early Alzheimer's disease did not meet its primary endpoint.Doximity (DOCS) could face near-term pressure from slowing growth after issuing weaker-than-expected guidance, though strong user engagement trends and expanding AI opportunities continue to support the stock's long-term outlook, Morgan Stanley said in a note. Morgan Stanley lowered the price target on Doximity to $35 from $49, while maintaining an overweight rating. Doximity shares dropped more than 23%.Aveanna Healthcare (AVAH) shares jumped past 8% after it reported higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 revenue guidance.

$AVAH$BIIB$DOCS$PBH
Sectors

Sector Update: Healthcare

Healthcare stocks edged down late Thursday afternoon, with the NYSE Healthcare Index easing 0.1% and the State Street Healthcare Select Sector SPDR ETF (XLV) fractionally lower.The iShares Biotechnology ETF (IBB) decreased 0.5%.In corporate news, Prestige Consumer Healthcare's (PBH) officials said Thursday that weak eye care sales and a difficult consumer backdrop drove disappointing fiscal Q4 results at the consumer healthcare products company. Its shares were down past 10%.

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Prestige Consumer Healthcare Attributes Soft Results to Low Eye Care Sales, Weak Consumer Backdrop
US Markets

Prestige Consumer Healthcare Attributes Soft Results to Low Eye Care Sales, Weak Consumer Backdrop

Prestige Consumer Healthcare's (PBH) officials said Thursday that weak eye care sales and a difficult consumer backdrop drove disappointing fiscal fourth-quarter results at the consumer healthcare products company.Prestige late Wednesday reported adjusted earnings of $1.23 per share on revenue of $281.6 million. Analysts polled by FactSet expected $1.39 and $293.6 million. The company owns brands including motion sickness treatment Dramamine and Goody's pain relievers.Fourth-quarter revenue was particularly impacted by lower eye care sales, while some international sales were affected by shipping disruptions caused by the Middle East conflict, Chief Financial Officer Christine Sacco said on an earnings call on Thursday, according to a FactSet transcript."The difficult consumer environment persisted into (the fourth quarter) and was further impacted by global conflict," Chief Executive Ron Lombardi told analysts. "While these dynamics led to certain shipment disruptions late in the quarter, we expect to return to organic growth in fiscal 2027 and are well-positioned to manage ongoing macro pressures, including inflation as we have successfully done in the past."Sales for the Clear Eyes brand were below expectations due to delayed shipments and production shutdowns ahead of line updates, Lombardi said on the call.The company's shares plummeted 10% in Thursday trade, bringing their year-to-date decline to nearly 25%.Prestige guided adjusted EPS for the year ending March 2027 in the range of $4.42 to $4.51 on sales between $1.10 billion and $1.12 billion. The current consensus on FactSet is for non-GAAP EPS of $4.74 and revenue of $1.17 billion.Oppenheimer said it expected a below-consensus guide, but "this was worse than we envisioned," according to a note. The brokerage downgraded its rating on the company's stock to perform from outperform and removed the $65 price target.Prestige on Wednesday announced a deal to acquire LaCorium Health for about $150 million in cash. The transaction is expected to close in the second quarter of fiscal 2027.Prestige previously agreed to buy the Breathe Right brand from Foundation Consumer Healthcare."With management now digesting two acquisitions, Clear Eyes execution challenges in recent quarters, higher levels of leverage, and a more uncertain consumer backdrop, we see a weaker outperformance case," Oppenheimer analysts, including Rupesh Parikh, said.Price: $47.49, Change: $-4.33, Percent Change: -8.35%

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Sectors

Sector Update: Healthcare Stocks Softer Thursday Afternoon

Healthcare stocks edged down Thursday afternoon, with the NYSE Healthcare Index easing 0.1% and the State Street Healthcare Select Sector SPDR ETF (XLV) fractionally lower.The iShares Biotechnology ETF (IBB) decreased 0.5%.In corporate news, Biogen (BIIB) shares fell nearly 6% after the firm said Thursday that a phase 2 trial of diranersen in people with early Alzheimer's disease did not meet its primary endpoint.Prestige Consumer Healthcare (PBH) reported weaker-than-expected Q4 results and issued 2026 guidance below consensus, with the shortfall driven primarily by supply constraints in Clear Eyes and broader execution pressures, Oppenheimer said in a note. Oppenheimer downgraded the stock to perform from outperform and removed its $65 price target. Prestige shares slumped past 8%.Doximity (DOCS) could face near-term pressure from slowing growth after issuing weaker-than-expected guidance, though strong user engagement trends and expanding AI opportunities continue to support the stock's long-term outlook, Morgan Stanley said in a note. Morgan Stanley lowered the price target on Doximity to $35 from $49, while maintaining an overweight rating. Doximity shares dropped more than 24%.Aveanna Healthcare (AVAH) shares jumped 11% after it reported higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 revenue guidance.

$AVAH$BIIB$DOCS$PBH
Wire

Prestige Consumer Faces Execution Pressure After Weak Q4, Softer 2026 Outlook, Oppenheimer Says

Prestige Consumer Healthcare (PBH) reported weaker-than-expected Q4 results and issued 2026 guidance below consensus, with the shortfall driven primarily by supply constraints in Clear Eyes and broader execution pressures, Oppenheimer said in a Thursday note.The analyst said adjusted EPS and revenue both missed expectations in the quarter, while the 2026 outlook came in below Street estimates, reflecting headwinds from recent acquisitions, elevated leverage and a more uncertain consumer environment.Oppenheimer noted that management introduced a medium-term framework calling for roughly 10% annual revenue growth and about 8% EPS compound annual growth rate, supported by portfolio expansion, Clear Eyes recovery, and contributions from recent acquisitions.The report added that Prestige's planned acquisition of LaCorium Health for about $150 million is expected to strengthen its skincare portfolio and add incremental growth, while the firm updates its estimates pending further clarity on 2026 assumptions.Oppenheimer downgraded the stock to perform from outperform and removed its $65 price target.Shares of Prestige Consumer Healthcare were down more than 12% in Thursday trading.Price: $45.28, Change: $-6.53, Percent Change: -12.60%

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Research

Oppenheimer Downgrades Prestige Consumer Healthcare to Market Perform From Outperform

Prestige Consumer Healthcare (PBH) has an average rating of overweight and mean price target of $78.50, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Wire

Prestige Consumer Healthcare Fiscal Q4 Adjusted Earnings, Revenue Fall; Issues Fiscal 2027 Guidance

Prestige Consumer Healthcare (PBH) reported fiscal Q4 adjusted earnings late Wednesday of $1.23 per diluted share, down from $1.32 a year earlier.Analysts surveyed by FactSet expected $1.39.Revenue for the quarter ended March 31 was $281.6 million, down from $296.5 million a year earlier.Analysts polled by FactSet expected $293.6 million.The company expects fiscal 2027 adjusted EPS of $4.42 to $4.51 on revenue of $1.10 billion to $1.12 billion. Analysts expect $4.79 and $1.16 billion, respectively.Also, the company said it agreed to acquire Australia-based LaCorium Health, a therapeutic skin care provider designed to treat individual skin ailments, for about $150 million in cash. The transaction, subject to customary conditions, is expected to close in Q2, it added.

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Research

Research Alert: CFRA Maintains Hold Rating On Shares Of Premium Brands Holdings Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our Hold rating on PBH and lower our target price to CAD95 from CAD98. This is based on an earnings multiple of 15x our FY 27 adjusted earnings per share of CAD6.37. The inflationary impact on input costs remains. However, the U.S. inorganic growth strategy has overwhelmed the gross margin compression. Revenues and EBITDA grew in the mid-20% range due to the Stampede acquisition, but adjusted EPS grew ony 18.6% as dilution from the deal took its toll. Valuations are depressed to the lower band of long-term historical averages. However, we feel this is justified due to inflationary pressures weighing on margins. Should these input costs recede, we feel the tuck-in experience at PBH can drive synergies to expand margins. We remain cautious in regard to consumer behavior as the cost at the pump continues to rise. We lower our 2026 EPS to CAD5.26 from CAD5.62 and 2027 to CAD6.37 from CAD6.52.

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Wire

Oppenheimer Adjusts Price Target on Prestige Consumer Healthcare to $65 From $77, Maintains Outperform Rating

Prestige Consumer Healthcare Inc (PBH) has an average rating of buy and mean price target of $75.80, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $54.74, Change: $+0.43, Percent Change: +0.79%

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Research

Research Alert: Pbh Q1: Revenue Up 25% To Cad2.1b On Stampede Deal; Maintains 2026 Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Q1 revenue from continuing operations rose 24.6% to CAD2.1B, with acquisitions contributing 70% of growth and organic volume adding 23%. Adjusted EPS increased 36.1% to CAD0.83 versus CAD0.70, while adjusted EBITDA grew 26.7% to CAD171.2M with margin expanding 10 basis points to 8.3%. Volume growth continues in the U.S. and EBITDA margins expanded despite highly inflationary conditions, while we believe PBH is beginning a capital recycling period to monetize ~CAD1B in non-core assets. Management maintained full-year guidance of CAD9.25B-CAD9.55B revenue and CAD870M-CAD910M adjusted EBITDA, reaffirming expectations to exceed 2027 targets of CAD10.0B revenue and CAD1.0B EBITDA. The company completed the Shaw Bakers divestiture for CAD160M in net proceeds. Consumer behavior is shifting from higher priced beef products, which remains a focal point worth monitoring. We believe executing the asset monetization strategy in an accretive manner provides meaningful upside potential to profitability.

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