News

Published on 23 May 2024 on Zacks via Yahoo Finance

Top Stock Reports for Apple, Mastercard & Amgen


Article preview image

Thursday, May 23, 2024The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Apple Inc. (AAPL), Mastercard Incorporated (MA) and Amgen Inc. (AMGN), as well as two micro-cap stocks Utah Medical Products, Inc. (UTMD) and Bridger Aerospace Group Holdings, Inc. (BAER). The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.You can see all of today’s research reports here >>>Apple shares have lagged the Zacks Tech sector (+10.2% vs. 42.7%) as well as the S&P 500 index over the past year (+10.2% vs. +29.1%) reflecting a combination of the company's China exposure and perception of insufficiently well placed for AI. The company’s second-quarter fiscal 2024 results suffered from weak iPhone demand. It is benefiting from increasing customer engagement in the services segment. The expanding content portfolio of Apple TV+ and Apple Arcade helped in driving subscriber growth.Apple’s results also benefited from strong growth in emerging markets and growing adoption among enterprises. Apple CEO Tim Cook’s positive comments on plans to expand the usage of AI in the company’s devices and record $110 billion share repurchase announcement reflects strong prospects.However, Apple has been suffering from stiff competition in the smartphone market and weakness in China. Growing legal complexities, including ongoing EPIC and Masimo lawsuits and the latest case by the U.S. Department of Justice, have been a headwind.(You can read the full research report on Apple here >>>)Shares of Mastercard have modestly outperformed the Zacks Financial Transaction Services industry over the past year (+24.6% vs. +21.2%). Numerous acquisitions are helping the company to grow addressable markets and drive new revenue streams. The COVID-19 crisis accelerated the adoption of digital and contactless solutions, providing an opportunity for the firm's business to expedite its shift to the digital mode.It is well-poised to gain from steady cash-generating abilities. A strong capital position allows it to pursue acquisitions and prudently deploy capital through share buybacks and dividend payments.However, steep operating expenses might stress its margins. Also, we expect general and administrative costs to jump almost 11% in 2024. High rebates and incentives may weigh on net revenues. As such, the stock warrants a cautious stance.(You can read the full research report on Mastercard here >>>)Amgen shares have outperformed the Zacks Medical - Biomedical and Genetics industry over the year-to-date period (+9.0% vs. -3.8%). The company beat first-quarter estimates for earnings and sales. It expects strong sales growth of products like Tezspire, Evenity, Repatha, Prolia and Tavneos to offset declining revenues from oncology biosimilars and legacy established products such as Enbrel in 2024.The addition of Horizon’s rare disease drugs should further boost revenue growth. Amgen also has some key pipeline assets in obesity and inflammation, which have a large market opportunity. Several key pipeline data readouts are expected in 2024, including from the obesity program, MariTide.However, increased pricing headwinds and competitive pressure are hurting sales of many products, including some biosimilars. Weakness in some key brands like Otezla and Lumakras create potential revenue headwinds.(You can read the full research report on Amgen here >>>)Shares of Utah Medical Products have underperformed the Zacks Medical - Products industry over the past year (+26.9% vs. +4.5%). This microcap company with market capitalization of $237.5 million have witnessed the loss of a major OEM customer which has significantly impacted revenues, leading to a 9.4% sales decline in Q1 2024. Intense competition from industry giants pressures profitability.Nevertheless, Utah Medical Products is well-positioned in the growing medical device market, driven by rising chronic diseases, aging populations and demand for home healthcare. Its diverse product portfolio in obstetrics, gynecology, electrosurgery and neonatal care targets high-growth segments, ensuring sustained demand.The company’s Q1 2024 revenue distribution shows robust diversification, enhancing stability with 45.4% from international sales. UTMD's strong cost management improved the net income margin to 34.9% in Q1 2024 despite increased litigation costs. The company’s solid balance sheet, with $93.8 million in cash, supports strategic growth and shareholder returns.(You can read the full research report on Utah Medical Products here >>>)Bridger Aerospace’s shares have underperformed the Zacks Aerospace - Defense industry over the past year (-39% vs. -3.9%). This microcap company with market capitalization of $191.82 million taps into the aerial firefighting market, which is expected to witness a modest growth. Risks include high revenue concentration, seasonal variability, steep operational costs, reliance on government contracts, and expansion challenges.Nevertheless, Bridger’s success hinges on managing these risks while leveraging market growth opportunities. The company saw a revenue jump to $67 million in 2023, up 44.4%, buoyed by significant contracts despite a slow fire season. The firm's global reach expanded, entering markets like Canada and Spain, thereby diversifying its revenue sources.Fleet and tech advancements, including acquiring Super Scoopers and a fire surveillance Software as a service (SaaS) platform, enhanced operational capacity. Financially, despite a 2023 loss, adjusted EBITDA skyrocketed 405.4%, with an expectation of future growth.(You can read the full research report on Bridger Aerospace here >>>)Other noteworthy reports we are featuring today Cambium Networks Corporation (CMBM), Canadian Natural Resources Limited (CNQ) and Monster Beverage Corporation (MNST).Director of ResearchSheraz MianNote: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

Story continues

Today's Must Read

NASDAQ.AAPL price evolution
NYSE.MA price evolution
NASDAQ.CCRN price evolution

Want to become a better investor?

Start tracking your investments with Statfolio

Sign up for free
Related News
The Top US Economic Indicator Every Investor Should Know

We recently compiled a list of the Top 15 U.S. Economic Indicators Every Investor Should Know and...

Insider Monkey via Yahoo Finance 1 Jun 2024

Microsoft Is Outpacing Apple in Innovation and Growth

I last covered Microsoft Corp. (NASDAQ:MSFT) in December, and I allocated a buy rating to the sto...

GuruFocus.com via Yahoo Finance 31 May 2024

Jim Cramer Recommends Buying Apple Inc (NASDAQ:AAPL) Heading Into June

We recently published a list of Jim Cramer's Top 10 Stock Picks for June. Since Apple Inc (NASDAQ...

Insider Monkey via Yahoo Finance 31 May 2024

Stock Buybacks Are Big in 2024: These 3 Are Leading the Race | Investing.com AU

Stocks Analysis by Timothy Fries covering: Microsoft Corporation, Alphabet Inc Class A, Apple Inc...

Investing.com 29 May 2024

Invest with Confidence: Intrinsic Value Unveiled of Apple Inc

In this article, we will take a look into Apple Inc's (NASDAQ:AAPL) DCF analysis, a reliable and ...

GuruFocus.com via Yahoo Finance 27 May 2024

Is Apple Inc. (NASDAQ:AAPL) Warren Buffett’s Favorite Dow Stock?

Apple Inc. (NASDAQ:AAPL) is indeed Warren Buffett's favorite Dow stock as his firm, Berkshire Hat...

Insider Monkey via Yahoo Finance 25 May 2024

Is Broadcom Inc. (NASDAQ:AVGO) The Best Tech Dividend Stock of 2024?

We recently analyzed the best dividend stocks of 2024. Though Broadcom Inc. (NASDAQ:AVGO) ranks e...

Insider Monkey via Yahoo Finance 24 May 2024

Top Stock Reports for Apple, Mastercard & Amgen

Thursday, May 23, 2024The Zacks Research Daily presents the best research output of our analyst t...

Zacks via Yahoo Finance 23 May 2024

Insider Buying: Apple Hospitality REIT, Inc. (NYSE:APLE) Director Purchases $14,730.00 in Stock

Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report) Director Redd Hugh purchased 1,000 sha...

ETF DAILY NEWS 23 May 2024

Tim Cook's Potential Retirement Sparks Successor Search At Apple: 'Not Clear How This All Pans Out'...

As Apple Inc. AAPL CEO Tim Cook approaches a potential retirement, the company might be in a pick...

Benzinga 9 May 2024