Analyst’s Handbook: Health Care Yardeni Research, Inc. October 22, 2012 Dr. Edward Yardeni 516-972-7683 [email protected]Mali Quintana 480-664-1333 [email protected]Please visit our sites at www.yardeni.com blog.yardeni.com thinking outside the box
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Analyst's Handbook: Health Care - Yardeni Research · 2020. 10. 15. · Analyst’s Handbook: Health Care Yardeni Research, Inc. October 22, 2012 Dr. Edward Yardeni 516-972-7683 [email protected]
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Table Of Contents Table Of ContentsTable Of Contents
October 22, 2012 / Analyst’s Handbook: Health Care www.yardeni.com
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S&P 500 Health Care 1S&P 500 Health Care (cont) 2S&P 400: Health Care 3S&P 400 Health Care (cont) 4Health Care: S&P Sector and Cap, Year-to-Date 5-6Health Care Sector 7-8Relative Earnings & P/E: Health Care 9-10Profit Margin 11Earnings Growth 12Earnings Growth Spreads 13Pricing 14-15
Figure 1.
02 03 04 05 06 07 08 09 10 11 12 13 14200
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10/19S&P 500 HEALTH CARE
02 03 04 05 06 07 08 09 10 11 12 13 14250
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S&P 500 HEALTH CARE EQUIPMENT(BAX BCR BDX BSX CFNwi HSP ISRGMDT STJ SYK VAR ZMH)
02 03 04 05 06 07 08 09 10 11 12 13 14200
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S&P 500 BIOTECHNOLOGY(AMGN BIIB CELG GENZ GILD)
02 03 04 05 06 07 08 09 10 11 12 13 140
50
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S&P 500 HEALTH CARE FACILITIES(THC)
02 03 04 05 06 07 08 09 10 11 12 13 14100
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S&P 500 HEALTH CARE DISTRIBUTORS(ABC CAH MCK PDCO)
200-day moving average
Source: Standard and Poor’s Corporation.
02 03 04 05 06 07 08 09 10 11 12 13 14120
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10/19
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S&P 500 HEALTH CARE SERVICES(DGX DVA ESRX LH MHS)
- S&P 500 Health Care -
Page 1 / October 22, 2012 / Analyst’s Handbook: Health Care www.yardeni.com
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Figure 2.
02 03 04 05 06 07 08 09 10 11 12 13 14100
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S&P 500 MANAGED HEALTH CARE(AET CI CVH HUM UNH WLP)
* Price divided by 12-month forward consensus expected operating earnings per share using mid-month data.** Sector or industry forward P/E relative to S&P 500 forward P/E.
* Three-month moving average of the number of estimates up less number of estimates down, expressed as a percentage of the total number of estimates.Source: Thomson Reuters I/B/E/S.
S&P 500 HEALTH CARE NET EARNINGS REVISIONS*
Figure 10.
- Health Care Sector -
Page 8 / October 22, 2012 / Analyst’s Handbook: Health Care www.yardeni.com
* Price divided by 12-month forward consensus expected operating earnings per share using mid-month data.P/E capped at 35 for all industries.Source: Thomson Reuters I/B/E/S.
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Figure 14.
- Relative Earnings & P/E: Health Care -
Page 10 / October 22, 2012 / Analyst’s Handbook: Health Care www.yardeni.com
* Personal consumption expenditures deflator.Source: US Department of Labor, Bureau of Labor Statistics and US Department of Commerce, Bureau of Economic Analysis.
* Personal consumption expenditures deflator.Source: US Department of Labor, Bureau of Labor Statistics and US Department of Commerce, Bureau of Economic Analysis.
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Figure 20.
- Pricing -
Page 14 / October 22, 2012 / Analyst’s Handbook: Health Care www.yardeni.com
* Personal consumption expenditures deflator.Source: US Department of Labor, Bureau of Labor Statistics and US Department of Commerce, Bureau of Economic Analysis.
* Personal consumption expenditures deflator.Source: US Department of Labor, Bureau of Labor Statistics and US Department of Commerce, Bureau of Economic Analysis.
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Figure 22.
- Pricing -
Page 15 / October 22, 2012 / Analyst’s Handbook: Health Care www.yardeni.com
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