Canaccord Genuity downgraded IRBT after the shares "dramatic run-up"
Analysts are weighing in on Roomba maker iRobot Corporation (NASDAQ:IRBT), as well as drug stock Jazz Pharmaceuticals plc - Ordinary Shares (NASDAQ:JAZZ) and Medicaid solutions provider Molina Healthcare, Inc. (NYSE:MOH). Here's a quick roundup of today's bearish brokerage notes on shares of IRBT, JAZZ, and MOH.
Canaccord Cuts IRBT Stock After Run to Record Highs
iRobot stock just touched an all-time peak of $99.98 yesterday, bringing its year-to-date gain to more than 70%. However, Canaccord Genuity late last night downgraded IRBT stock to "hold" from "buy," saying it was "moving to the sidelines following the dramatic run-up." As such, IRBT shares are trading down 2% today at $97.84. Short sellers have been bracing for a pullback, too. Although the stock has been exploring uncharted territory, short interest jumped 5.3% in the most recent reporting period, and now accounts for more than 17% of IRBT's available float.
Mizuho Trims Price Target on JAZZ Stock
Jazz Pharmaceuticals stock saw its price target lowered to $144 from $150 at Mizuho. JAZZ shares are down 0.3% at $147.77, but could find a foothold atop their rising 80-day moving average -- a trendline that's helped usher the equity to a more than 35% year-to-date lead. Most analysts remain upbeat toward JAZZ stock, though, with 12 of 13 brokerages maintaining a "buy" or better recommendation, and not a single "sell" on the books.
MOH Stock Downgraded at Stifel
Molina Healthcare stock has added more than 33% in May, thanks to a well-received earnings report at the start of the month. However, MOH stock is running into a familiar wall in the $67-$68 area, home to the equity's 2016 highs. And while Stifel upped its price target on MOH to $60 from $47, the new target still represents a discount to the stock's current perch of $65.24, and the brokerage firm downgraded the shares to "sell" from "hold." There's plenty of skepticism to be found elsewhere, too. Short interest jumped 13.2% in the most recent reporting period, and now accounts for more than one-fifth of MOH stock's available float.