BOWIE, Md.--(BUSINESS WIRE)--Winners Honored at Inovalon's Annual Empower Conference With 2025 Impact Awards for Advancing Healthcare Economics and Outcomes. ...

Financial Data and Key Metrics Changes - The company reported a revenue of $4.47 billion, reflecting a 7% increase year-over-year and a 6% organic growth [20][21] - Adjusted EBITDA for the quarter was $616 million, up 3% year-over-year, resulting in an adjusted EBITDA margin of 13.8% [21][25] - Earnings per share (EPS) grew 4% to $3.05, supported by a lower share count [21][25] - Operating cash flow reached $711 million, with a free cash flow conversion ratio of 171% [25] Business Line Data and Key Metrics Changes - National security and digital revenues increased by 8% year-over-year, with 7% coming from organic growth, driven by contract awards and increased volumes [22] - Health and civil revenues rose by 6% year-over-year, with a record non-GAAP operating income margin of 25.7% [23] - Defense systems grew by 11% year-over-year, marking its seventh consecutive period of high single to low double-digit growth [24] Market Data and Key Metrics Changes - The company experienced a 27% sequential increase in funded backlog, indicating strong customer demand [16] - The energy infrastructure business has grown significantly, now representing over $600 million in annual revenues [9] Company Strategy and Development Direction - The company is focused on its North Star 2030 strategy, which includes growth pillars such as space and maritime, energy infrastructure, digital modernization and cyber, mission software, and managed health services [8][12] - The company is investing in AI and automation to enhance operational efficiency and customer outcomes [7][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current government shutdown, noting that most programs remain unaffected [4][19] - The company raised its guidance for 2025, reaffirming revenue guidance of $17 billion to $17.25 billion and increasing EBITDA and EPS guidance [18][26] Other Important Information - The company repurchased $100 million worth of shares and accelerated the payoff of $450 million on its term loan [17] - A dividend of $0.43 per share was announced, marking a 7.5% increase [17] Q&A Session Summary Question: Thoughts on M&A in the current environment - Management indicated a shareholder-friendly approach to capital deployment, focusing on both organic growth and selective M&A opportunities [30][31] Question: Growth in defense systems segment - Management highlighted tracking 10 franchise programs expected to deliver about $15 billion in potential value over the next five years [36] Question: Sustainability of health and civil segment margins - Management expressed confidence in sustaining high margins through innovation and technology investments [45][49] Question: Bid expectations for next year - Management expects a significant increase in bid submissions next year, with a robust pipeline of $69 billion in near-term opportunities [55][58] Question: Impact of the government shutdown on Q4 - Management acknowledged potential risks from the shutdown but remained optimistic about returning to normal operations quickly [74][75] Question: International business performance - Management expressed confidence in growing the international business, particularly in Australia and the U.K., aligned with growth pillars [100] Question: Potential spin-off of Dynetics - Management emphasized the value of Dynetics within the Leidos portfolio and plans to invest in it rather than consider a spin-off [106][108] Question: Recompete contracts for next year - Management noted that it is too early to specify recompete contracts but highlighted several areas with growth momentum [90][92]

Core Insights - DocGo Inc. is launching Longitudinal Care Services in partnership with a California-based insurance provider, aiming to enhance its primary care capabilities [1] - The new program will focus on preventative care, chronic care management, and transitions of care services [1] - The target audience for this initiative includes 10,000 plan members who are currently under-engaged [1]

Core Insights - Sotera Health Company reported strong financial results for the third quarter and first nine months of 2025, with significant revenue and income growth compared to the previous year [2][3][4]. Financial Performance - Third-quarter 2025 net revenues increased by 9.1% to $311 million, up from $285 million in the third quarter of 2024. On a constant currency basis, the increase was 8.0% [2][8]. - Net income for the third quarter of 2025 was $48 million, or $0.17 per diluted share, compared to $17 million, or $0.06 per diluted share in the same quarter of 2024 [2][8]. - Adjusted EBITDA for the third quarter of 2025 rose by 12.2% to $164 million, with an 11.2% increase on a constant currency basis [2][8]. - For the first nine months of 2025, net revenues grew by 6.2% to $860 million, with net income of $43 million, or $0.15 per diluted share, compared to $32 million, or $0.11 per diluted share in the same period of 2024 [3][8]. Business Segment Performance - Sterigenics segment reported net revenues of $193 million for the third quarter of 2025, a 9.8% increase, with segment income rising by 11.6% to $107 million [5][6]. - Nordion's net revenues increased by 22.4% to $63 million in the third quarter of 2025, with segment income up by 19.9% to $38 million [9][10]. - Nelson Labs experienced a decrease in net revenues by 5.0% to $56 million in the third quarter of 2025, but segment income increased by 1.9% to $19 million [11][12]. Outlook and Guidance - The company reaffirmed its 2025 revenue outlook, projecting growth in the range of 4.5% to 6.0% on a constant currency basis, and raised its Adjusted EBITDA growth outlook to 6.75% to 7.75% [4][16]. - The interest expense range was improved to $154 million to $158 million, and the tax rate applicable to Adjusted Net Income was adjusted to 29.00% to 31.00% [16][17]. Balance Sheet and Liquidity - As of September 30, 2025, Sotera Health had total debt of $2.2 billion and unrestricted cash of $299 million, with a Net Leverage Ratio improved to 3.3x [13][14]. - The company achieved a contractual net leverage target, resulting in a 25 basis point reduction in the interest rate on its First Lien Term Loan facility [14].

Ritankar Das wants the holding company to make its comeback. “For the 20th century and for much of human history, [holding companies] were how things worked,” said Das, founder of AI-focused holding company Titan Holdings. “That’s how you got your railroads to work, in conjunction with other types of industries that were adjacent.” While such conglomerates exist today (like Koch Industries or Danaher), you don’t necessarily see new ones being formed, Das adds. However one feels about Koch or the “robber ...

Group 1 - Tenet Healthcare Corporation announced a private placement offering totaling $1.5 billion in senior secured first lien notes due November 15, 2032, with an interest rate of 5.500% per annum [1] - The company will also issue $0.75 billion in senior notes due November 15, 2033, which will bear an interest rate of 6.000% [1]

Investors might want to bet on Centene (CNC) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a changing ...

Core Insights - The article discusses various studies published in the Journal of Health Economics, focusing on the impact of broadband internet on youth mental health, the factors influencing long-term care insurance uptake, the effects of Earned Income Tax Credits on intergenerational health mobility, and the implications of payroll subsidies in nursing homes [4][6]. Group 1: Broadband Internet and Youth Mental Health - Broadband internet access has increased the prevalence of mental disorders among younger cohorts (born between 1985 and 1995) by 0.08 standard deviation units, with no significant impact on older individuals (born between 1974 and 1984) [8][9]. - The negative effects are particularly pronounced for those exposed to the internet before the age of 20, affecting various mental health issues including depression, anxiety, drug abuse, and personality disorders [8][9]. Group 2: Long-Term Care Insurance - The study explores the role of correlation preference and the relative preference for quality of life over wealth in influencing the decision to purchase long-term care insurance [11][12]. - The findings suggest that these preferences contribute to the low uptake of long-term care insurance, with correlation seeking behavior being a significant factor [11][12]. Group 3: Earned Income Tax Credits and Health Mobility - The research presents empirical evidence that the Earned Income Tax Credits (EITC) improve intergenerational health mobility, particularly upward mobility [13]. - The study utilizes self-reported health status data to analyze the effects of childhood exposure to EITC benefits across different temporal, geographic, and family structures [13]. Group 4: Nursing Home Payroll Subsidies - Payroll subsidies have been shown to increase staffing levels in nursing homes by approximately 7.4% of pre-subsidy average staffing, but they also decrease the Medicaid share of new admissions by about 11.5% [14][15]. - The study indicates that while these subsidies effectively enhance staffing, they may lead to a shift in the demographic characteristics of nursing home residents, potentially affecting access to care for Medicaid enrollees [14][15]. Group 5: Housing Wealth and Medical Spending - The analysis reveals that housing wealth does not have a significant impact on out-of-pocket medical expenditures among older homeowners, with estimates indicating negligible effects across various expenditure categories [17][18]. - This suggests that many homeowners either do not need to access their housing wealth for medical expenses or are unwilling or unable to do so [17][18]. Group 6: Nonlinear Reimbursement Rules - The study examines nonlinear reimbursement rules for preventive and curative medical care, highlighting that optimal insurance designs should increase benefits with both types of care to align incentives and reduce informational rents [19][22]. - The findings emphasize the importance of understanding the dynamics of preventive care choices and their implications for reimbursement structures [19][22]. Group 7: Longevity, Education, and Income - The research investigates the relationship between longevity, education, and income, concluding that the potential economic benefits of increased education due to longer life expectancy are minimal, particularly in low-income countries [23]. - The study suggests that even with significant educational responses to longevity, the overall impact on lifetime income remains less than 1% for typical low-income countries [23].

Core Insights - Bretton Fund achieved an 8.21% return in Q3 2025, outperforming the S&P 500 Index which returned 8.12% [1] - UnitedHealth Group Incorporated (NYSE:UNH) is highlighted as a significant holding, with a one-month return of -4.29% and a 52-week loss of 39.26% [2][4] - The stock closed at $344.75 on October 30, 2025, with a market capitalization of $312.288 billion [2] Company Performance - UnitedHealth Group reported revenues exceeding $113 billion in Q3 2025, reflecting a 12% year-over-year growth driven by the expansion of domestic memberships [4] - The company experienced a significant stock decline, falling over 60% from its November 2024 high before a slight rebound, contributing 0.9% to the Bretton Fund [3] Investor Sentiment - The appointment of a new CEO and Berkshire Hathaway's initiation of a position in UnitedHealth Group have positively influenced investor sentiment [3] - UnitedHealth Group is ranked 18th among the 30 Most Popular Stocks Among Hedge Funds, with 159 hedge fund portfolios holding the stock at the end of Q2 2025, up from 139 in the previous quarter [4]

Core Insights - Five stocks have been added to the Zacks Rank 1 (Strong Buy) List, indicating strong potential for investment returns Group 1: Company Summaries - **PennyMac Mortgage Investment Trust (PMT)**: This real estate investment trust focuses on residential mortgage loans and related assets, with a 10.3% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [1] - **NatWest Group (NWG)**: A banking and financial services company offering a range of services including personal and business banking, with a 7.5% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [2] - **Phibro Animal Health (PAHC)**: A global diversified animal health and mineral nutrition company providing products for food animals, with a 4.4% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [3] - **Centene (CNC)**: A well-diversified healthcare company serving government-sponsored healthcare programs, with a 2.4% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [4] - **ACNB (ACNB)**: A provider of banking and financial services to individuals and businesses, also seeing a 2.4% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [4]