Please see below for our usual MicroQuad and other weekly data updates. We've added watch list tickers, so there are some newer names in the bins. Let us know if you like this as a standalone note - we think it's easier to digest. As always, email us if you have any questions on any of the data or our takeaways. - .
KEY CALL OUT - Estimate Revisions & 2022 Consensus
CLICK HERE for the full weekly update (deck). As noted in our AM Brief today, Delta Variant is all over the map, literally. Southern states are mending while others sustain the outbreak. The impact on consensus estimates has been mixed, mostly pressuring 3Q21 over the last several weeks, but as of this week, the worst may be over. You can see this in the Revision Trend chart(s) below - more importantly, 2022 estimates continued to climb throughout the month, which points to delayed #reopen effects and a steeper ascent once Delta Variant is more completely in the rearview mirror.
MICROQUADS*
As a reminder, if you have questions about the MicroQuad process, please try to find ~20 minutes to watch our Dec 30, 2020 call replay: Process & Utility of the Hedgeye Health Care #MicroQuads - CLICK HERE for event details (includes video link and materials link).
The MQ4 bucket has really thinned out. ONEM fell out of the "official" bins last week (due to the correlation dropping - it remains on the cusp of MQ1, as you can see below), but MRNA is now in MQ4, which is interesting. We also see some of the newly added stocks in here, like DOCS in MQ1 and PCRX in MQ2.
Position Monitor MQ Updates**
All data available upon request. Please reach out to with any feedback or inquiries.
Best,
Thomas Tobin
Managing Director
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William McMahon
Analyst
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Justin Venneri
Director, Primary Research
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*Please note, not all Position Monitor names make it into the MicroQuad output - most likely due to a lack of sufficient historical trading and estimate data.
**We may show stocks that we have data for but the correlation fails to meet the criteria for MQ bin inclusion week-to-week.
