Hedgeye Health Care Check Up
On Monday’s Health Care Webcast, we will cover:
- Replay of NTRA's Appearance on HedgeyeTV | Earlier today, we hosted Natera CFO, Michael Brophy for a discussion and Q&A centered on many recent discussion points following our Black Book in December and the company’s appearance at the 39th Annual JP Morgan Healthcare Conference last week. The conversation was focused on non-invasive prenatal testing (NIPT) trends (TAM, pricing, and competition); Signatera's recent momentum, potential launch trajectory given a new sales team, and the convergence on the molecular residual disease (MRD) space by all the major genomic testing companies; and overall reimbursement trends/friction. On Monday, we will review the takeaways from this call and update our outlook as a result.
- National Vision (EYE) - New Best Idea Long | On this morning’s The Call and the Health Care Morning Brief that followed, we announced our newest best idea long, National Vision Holdings ($EYE). EYE seemed like the next natural step for us given our work around the theme of pent-up demand within the health care system. Due to the obstacles in the roll-out process, we are still seeing people deferring care in order “to let the vaccine take hold.” When these people return to care, there is going to be a "snapback plus" owed to higher acuity with some percentage of the group. From our estimates, the comp structure in 4Q20, as well as 1H21, provides a favorable set-up for the company to execute upon. On this week’s update, we will preview the preliminary work which has made us confident in our thesis going forward.
- Weekly MQ Update - Positioning into Earnings | We have greatly enjoyed learning and innovating with our clients over the past few weeks through both the praises and challenges of our MicroQuad framework. We find it to be the most useful quantitative tool in assisting our own fundamental process in regards to timing and sentiment. Just this past week, we have added the ARK Funds and a few additional features. Heading into the 4Q 2020 earnings season, we’ll be utilizing the MicroQuads to add context the companies’ comments and quantitative releases.
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Health Care Webcast | Replay of NTRA's CFO Appearance, National Vision (EYE), Weekly MicroQuad Update Please join us on Monday, January 25, 2021 @ 2 PM ET - Add to Outlook Calendar Health Care Subscribers: CLICK HERE for event details (including video and materials links) |
Upcoming calls & Recent EVENTS
Health Care Call Replay | January 22nd, 2021 @ 10 AM ET | Fireside Chat With Natera's CFO
CLICK HERE for event details (includes video link and materials link).
Field Notes | GYN-Onc Trends | If MRD is the Future, Signatera is Leading the Way
CLICK HERE to access the associated note.
Field Notes | NGS Check | Labs Are Back At It
CLICK HERE to access the associated note.
Genetic Testing Lab Chart Book | January 2021 | Key Data Updates, Claims Analyses, and Forecasts
CLICK HERE to access the associated note.
Health Care Webcast | January 11th, 2021 @ 2 PM ET | ONEM, COVID Comps, #MicroQuads
CLICK HERE for event details (includes video link and materials link).
All data available upon request. Please reach out to with any inquiries.
Thomas Tobin
Managing Director
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