David Toung

Argus retained its Hold rating on Baxter International Inc (NYSE: BAX) on valuation, saying the stock is "fully valued." The brokerage said Baxter shares are trading at 27.1 times its 2017 EPS estimate, well above the peer average of 19.1 for its med-tech coverage universe. Baxter reported solid...

Shares of pharmaceutical giant Bristol-Myers Suibb Co (NYSE: BMY) plunged last Friday after the company announced its Opdivo drug had failed a trial evaluating its efficacy as an alternative treatment to chemotherapy in lung cancer patients. Specifically, the potential blockbuster drug failed to...

David Toung and Casey Meyers, analysts at Argus Research, reaffirmed a Buy rating on AbbVie Inc (NYSE: ABBV) on Monday with an $85 price target following the company's "strong" second quarter earnings print. The analysts noted that not only were AbbVie's results driven by sales of Humira and...

Argus maintains its Buy rating and $55 price target on Abbott Laboratories (NYSE: ABT) after it posted better-than-expected second-quarter results. That said, the brokerage has concerns regarding the "heavy lift" required to complete and integrate two large acquisitions on the horizon: Alere Inc (...

Johnson & Johnson (NYSE: JNJ) reported strong 2Q16 results on July 19, while issuing upbeat guidance for the remainder of the year. Argus’ David Toung maintains a Buy rating on the company, while raising the price target from $130 to $145. Robust Results “The strong second-quarter...

Medtronic PLC (NYSE: MDT) reported mixed results for 4Q16, while issuing new guidance for FY17. Argus’ David Toung maintained a Hold rating on the company. Toung believes the stock valuation fully reflects Medtronic’s growth outlook following the acquisition of Covidien in January...

Following the upbeat 2016 guidance issued by Zimmer Biomet Holdings Inc (NYSE: ZBH), Argus’ David Toung believes the company has been able to overcome integration issued associated with the merger with Biomet, while the combined sales force has stabilized. Toung upgraded the rating on the...

Argus Research issued a company note on Becton Dickinson and Co (NYSE: BDX) following the visible benefits of the acquisition of CareFusion, which has helped drive better than expected revenue growth and improved profitability. Argus reiterated Becton Dickinson's Buy rating and $167 price target....