We don’t think so. The stock is breaking out of a base on good volume after a positive earnings report. In the face of the threat of sweeping reform in healthcare LLY has displayed pricing power, raising prices on many of their drugs. Link to entire post
On 3/23 we said the fear surrounding Medicare reimbursements was overdone and thought LHCG (28.54) then priced at 19.47 would benefit. Though we would not short it at current levels, profit taking is in order.
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