Tag: Insurance Broker

SelectQuote (SLQT) – Highlights from Noble Virtual Conference; Synergistic Business Model Driving Favorable Growth

Posted on by cpereira@noblefcm.com


Friday, May 03, 2024

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Noble Virtual Conference. On April 17, management presented at Noble’s Virtual Healthcare Equity Conference. Management highlighted several key attributes of the company, such as its strong customer acquisition capabilities, synergistic business model, and long history of serving American consumers, among others.

Understanding the customer. Through its licensed agents, SelectQuote has roughly 30k conversations per day with American seniors, resulting in deep insights into the needs of American consumers, such as Medicare beneficiaries. This allows the company to refine its offerings in ways that add value for customers and lead to return customers.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

GoHealth, Inc. (GOCO) – Resetting Expectations: Still Well Positioned

Posted on by cpereira@noblefcm.com


Friday, March 15, 2024

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q4 results below expectations. The company reported Q4 revenue of $276.7 million, 23.6% below our forecast of $362.0 million. Adj. EBITDA in the quarter was $57.0 million, below our forecast of $116.1 million. The weaker than expected results were due in large part to low Medicare Advantage plan turnover, which limited the total revenue from new policy sales in the quarter.


Low plan turnover. Management noted that the average incremental benefits added to Medicare Advantage plans in 2023 was lower than usual, which resulted in less plan switching by Medicare Advantage enrollees. Of the more than 300,000 consumers it served, GoHealth’s PlanFit Checkup recommended that roughly 1/3 of them stay with their existing plans.     


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

GeoVax Labs (GOVX) – FY2023 Reported With A Review Of Clinical Progress and Upcoming Milestones

Posted on by cpereira@noblefcm.com


Friday, March 01, 2024

GeoVax Labs, Inc. is a clinical-stage biotechnology company developing novel therapies and vaccines for solid tumor cancers and many of the world’s most threatening infectious diseases. The company’s lead program in oncology is a novel oncolytic solid tumor gene-directed therapy, Gedeptin®, presently in a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. GeoVax’s lead infectious disease candidate is GEO-CM04S1, a next-generation COVID-19 vaccine targeting high-risk immunocompromised patient populations. Currently in three Phase 2 clinical trials, GEO-CM04S1 is being evaluated as a primary vaccine for immunocompromised patients such as those suffering from hematologic cancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, and as a booster vaccine in patients with chronic lymphocytic leukemia (CLL). In addition, GEO-CM04S1 is in a Phase 2 clinical trial evaluating the vaccine as a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. GeoVax has a leadership team who have driven significant value creation across multiple life science companies over the past several decades.

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Full Year Loss Was Less Than Expected. GeoVax reported a FY2023 loss of $26.0 million or $(14.29) per share, adjusted for a 1-for-15 reverse split in January 2024. The loss for 4Q23 was $7.6 million or $(4.29) per share, compared with our estimated loss of $9.0 million. Cash on December 31 was $6.5 million. On its quarterly conference call, the company reviewed progress in its clinical programs and confirmed milestones for 2024.

Gedeptin Program Is Moving Forward. In July 2023, GeoVax reported initial data from the Phase 1/2 trial testing Gedeptin head and neck cancer. The data showed successful delivery of the PNP gene, with safety, tumor reduction, and stable disease. Enrollment was completed in 2Q23, with additional results expected in 1H24. Expansion of Phase 2 of trial is planned during 2024. Additional trials using Gedeptin as a neoadjuvant at earlier stages of disease or in combination with immune checkpoint inhibitors may be added.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

SelectQuote (SLQT) – Can It Cut Loose Its Heavy Debt Anchor?

Posted on by cpereira@noblefcm.com


Thursday, February 29, 2024

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Initiating coverage with an Outperform rating and $5 price target. SelectQuote (NYSE: SLQT) is an insurance distribution and healthcare services organization, which is positioned to benefit from a growing population of Medicare beneficiaries. In our view, the company’s unique combination of health insurance distribution and home-direct pharmacy services represents an opportunity to drive high value per customer in a cost efficient manner. Our favorable rating reflects a strong revenue growth outlook with improving cash flow generation. 

Synergistic business model. The company’s health insurance distribution (primarily Medicare Advantage policies) and home-direct pharmacy businesses largely share a target customer base. This allows the company to economize on customer acquisition costs for its two largest segments. Taken together, the two business segments generated a revenue/customer acquisition cost (CAC) multiple of 4.2x over the trailing 12 months (as of December 31, 2023). 


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

GoHealth, Inc. (GOCO) – Initiating Coverage: An Encompassing Solution To Improve The Medicare Marketplace

Posted on by cpereira@noblefcm.com


Tuesday, January 16, 2024

Gregory Aurand, Senior Vice President, Equity Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Large Growing Complex Medicare Market. About 66.4 million Americans were covered by Medicare in calendar 2022 and the Medicare 65 and older population is expected to reach more than 93 million people by 2060.  GoHealth has already helped 10 million Americans and seeks to be the consumer Medicare health plan destination in this growing market. As the market grows more complex with a greater number of plan offerings, GoHealth’s platform simplifies the annual Medicare private plan shopping process.

Proprietary Offering Platform. GoHealth is driving growth in the Medicare Advantage and Medicare Supplemental markets through its pressure-free unbiased consumer-centric Encompass Solution platform that utilizes its proprietary data machine-learning PlanFit Checkup technology.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.