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RBC Capital analyst Mark Dwelle maintains Goosehead Insurance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSHD#NASDAQ">GSHD</a>) with a Outperform and lowers the price target from $88 to $80.

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RBC Capital Maintains Outperform on Goosehead Insurance, Lowers Price Target to $80

In the latest quarter, 10 analysts provided ratings for Fortive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTV#NYSE">FTV</a>), showcasing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Fortive, revealing an average target of $88.6, a high estimate of $101.00, and a low estimate of $80.00. This current average has increased by 4.1% from the previous average price target of $85.11. 
<img src="https://www.benzinga.com/files/images/story/2024/1714060817_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A clear picture of Fortive's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Deane Dray</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$83.00</td>
<td>$93.00</td>
</tr>
<tr>
<td>Joseph O'Dea</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$84.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Stephen Tusa</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$90.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Andrew Kaplowitz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$101.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Julian Mitchell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$97.00</td>
<td>$89.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$99.00</td>
<td>-</td>
</tr>
<tr>
<td>Deane Dray</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$80.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Brett Linzey</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$80.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Stephen Tusa</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$87.00</td>
<td>$83.00</td>
</tr>
<tr>
<td>Joseph O'Dea</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$85.00</td>
<td>$79.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Fortive. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Fortive compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Fortive's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Fortive's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/FTV/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Fortive analyst ratings.</a>
<h2>All You Need to Know About Fortive</h2>
Fortive is a diversified industrial technology firm with a broad portfolio of mission-critical products and services that include field solutions, product realization, health, and sensing technologies. The company serves a wide range of end markets, including manufacturing, utilities, medical, and electronics. Fortive generated roughly $6.1 billion in revenue in 2023.
<h3>Understanding the Numbers: Fortive's Finances</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Positive Revenue Trend: Examining Fortive's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 3.52% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Fortive's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 16.75% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Fortive's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 2.6%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Fortive's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 1.63%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Fortive's debt-to-equity ratio is below the industry average at 0.37, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Analyst Ratings: What Are They?</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

10 Analysts Have This To Say About Fortive

Raymond James analyst Buck Horne reiterates PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) with a Outperform and raises the price target from $120 to $135.

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Inter Parfums shares are trading lower after the company reported worse-than-expected Q1 revenue results. Also, Piper Sandler maintained an Overweight rating on the stock and lowered its price target from $176 to $172.

Sonic Automotive, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAH#NYSE">SAH</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading higher on Thursday.</a>
The company reported first-quarter adjusted earnings per share of $1.36, <a href="https://www.benzinga.com/pressreleases/24/04/b38425609/sonic-automotive-reports-first-quarter-financial-results" target="_blank" rel="noreferrer noopener">beating the street view of $1.30</a>. 
Total revenues of $3.384 billion, down 3% year-over-year, <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">missed the analyst consensus of $3.449 billion</a>.
Same-store revenues rose 1% year over year, while same-store gross profit decreased 5%.
Quarterly gross profit fell 3% year over year to $536.2 million.
Sonic Automotive reported net income of $42.0 million, down 12% year over year.
The company&#8217;s EchoPark segment revenues of $559.4 million fell 14% year over year.
During the first quarter, Sonic Automotive repurchased approximately 0.5 million shares of its Class A common stock for an aggregate purchase price of&nbsp;approximately&nbsp;$27.0 million.
Heath Byrd, chief financial officer of Sonic Automotive, added, &#8220;As of March 31, 2024, we had $847 million of total liquidity, including $335 million in cash and floor plan deposits on hand.&#8221;
The company&#8217;s board of directors approved a quarterly cash dividend of 30 cents per share, payable on July 15, to all <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">stockholders of record on June 14.</a>
&#8220;We believe we remain well-positioned to adapt to evolving market conditions and position the Company for success in 2024 and beyond,&#8221; Byrd added.
Price Action: SAH shares were up 10.74% to $56.61 at the last check Thursday. 
Now Read: <a href="https://www.benzinga.com/markets/equities/24/04/38436183/magnificent-7-tumble-wipe-out-300-billion-on-metas-weak-guidance-q1-stagflation-woes">Magnificent 7 Tumble, Wipe Out $300 Billion On Meta&#8217;s Weak Guidance, Q1 Stagflation Woes</a>
Photo: Shutterstock

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RBC Capital analyst Michael Eisen maintains General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) with a Outperform and lowers the price target from $325 to $320.

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ITGR

Integer Holdings shares are trading lower. The company reported Q1 financial results.

Dow Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) shares are trading lower after the company reported<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38424278/dow-reports-first-quarter-2024-results" rel="noreferrer noopener">&nbsp;first-quarter FY24 results</a>.
Sales declined 9% Y/Y to $10.77 billion,&nbsp;beating the consensus of $10.74 billion.
Sales were up 1% sequentially, led by gains in Performance Materials &amp; Coatings and Industrial Intermediates &amp; Infrastructure segments.
Adjusted EPS was $0.56,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">above the consensus of $0.45.</a>
Local&nbsp;price&nbsp;fell 10% year-over-year.&nbsp;Sequentially, local&nbsp;price&nbsp;was&nbsp;flat, as modest gains in EMEAI&nbsp;were offset&nbsp;by slight declines in&nbsp;Asia Pacific&nbsp;and the U.S. &amp;&nbsp;Canada.
Volume increased&nbsp;by 1%&nbsp;Y/Y, reflecting gains across all regions except Europe, the&nbsp;Middle East,&nbsp;Africa&nbsp;,&nbsp;and&nbsp;India&nbsp;(EMEAI).&nbsp;
Operating EBIT declined to $674 million from $708 million a year ago, while the margin expanded by 30 bps to 6.3% for the quarter.
Segment: Packaging &amp; Specialty Plastics sales decreased 11% Y/Y to $5.4&nbsp;billion, and the operating EBIT margin of 11.1% was up by 60 bps.
Industrial Intermediates &amp; Infrastructure sales fell 11% Y/Y to $3.0 billion, and the operating EBIT margin contracted by 70 bps to 2.9%.
Performance Materials &amp; Coatings sales declined 5% Y/Y to $2.2 billion, and the operating EBIT margin grew by 40 bps to 1.9%.
DOW&#8217;s cash provided by operating activities from continuing operations for the quarter was $460&nbsp;million&nbsp;,&nbsp;and&nbsp;free cash outflow came in at $(254) million.
DOW returned $693 million to the shareholders in the quarter, including $493 million in dividends and $200 million in share repurchases.
Jim Fitterling, chair and chief executive officer, said, &#8220;In the near-term, demand in key end-markets from packaging and mobility to energy applications are trending sequentially higher and&nbsp;in-line&nbsp;with our expectations at the start of the year.&#8221;&nbsp;
&#8220;In addition,&nbsp;our high-value organic growth investments and our advantaged portfolio position Dow well to deliver earnings growth and enhanced shareholder value as the economic recovery gathers strength.&#8221;&nbsp;
&#8220;This allows us the financial flexibility to advance our long-term Decarbonize &amp; Grow and Transform the Waste strategies and capture more than&nbsp;$3 billion&nbsp;in underlying earnings&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">improvement annually by 2030.</a>&#8220;
Investors can gain exposure to the stock via&nbsp;Invesco Dow Jones Industrial Average Dividend ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJD#NYSE">DJD</a>) and&nbsp;Invesco Exchange-Traded Fund Trust II Invesco S&amp;P Ultra Dividend Revenue ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDIV#NYSE">RDIV</a>).
Price Action: DOW shares are down 1.53% at $56.12 at the last check Thursday.
Photo via Shutterstock

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<h4>Key Takeaways:</h4>
<ul>
<li>New Horizon Health has brought in experienced accountants as independent directors and set up a special committee to investigate the allegations</li>
<li>The controversy revolves around the company&rsquo;s revenue accounting method, in which over-shipments of goods to distributors could inflate sales figures</li>
</ul>
By Molly Wen
It was a Chinese success story in the health technology sector, feted by the stock market.&nbsp;New Horizon Health Ltd.&nbsp;was the country&rsquo;s first cancer-screening company to go public and enjoyed fast revenue growth, before doubts began to surface last year about its sales figures.
The controversy roared back into the headlines in recent weeks when New Horizon Health failed to release its annual earnings report and its auditor, Deloitte, expressed reservations about the company&rsquo;s sales record.
The biotech, which went public on the Hong Kong stock market in 2021, supplies tests for gastric, colorectal and cervical cancer through hospitals, healthcare websites and other sales outlets. New Horizon&rsquo;s business performance was once the envy of the industry, with revenue surging more than 20 times in the three years through 2023 and gross margin jumping from 52% to 90%.
However, in the second half of last year an investigation by the U.S. financial website CapitalWatch cast doubt on the stellar numbers, arousing suspicions among stock investors.
In January this year the company issued positive&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0122/2024012200416.pdf">earnings guidance</a>&nbsp;to the market, predicting revenue for 2023 would range between 1.98 billion yuan ($273 million) and 2.05 billion yuan, a rise of 158.9% to 168.2% from the previous year. The bowel cancer screening product ColoClear was estimated to have racked up sales of more than 1 billion yuan as the firm&rsquo;s blockbuster product.
However, the March earnings season came and went without any sign of the full results. On the day of the expected release, the company announced that investors would have to wait until March 28 to see the full report, towards the end of Hong Kong&rsquo;s annual reporting period.
However, the earnings release did not materialize on that day. Instead, investors heard the&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0328/2024032806372.pdf">bombshell</a>&nbsp;news that Deloitte, the auditing firm that had served New Horizon since its IPO, had questioned the validity of some sales transactions for key products such as ColoClear, Pupu Tube and UU Tube. Deloitte also raised concerns about the firm&rsquo;s sales and marketing model, concluding that an independent investigation was needed. In short, the auditors had serious doubts about the accounts and could not sign off the results, hence the publication delay.
Investors could sense trouble in the days leading up to the Deloitte news. New Horizon&rsquo;s share price suddenly plunged 19.8% before the market closed on March 28. Including a drop the day before, the company&rsquo;s stock shed 25% of its value to sink to a 17-month low in the two sessions before trading was suspended.
Then on April 8 New Horizon&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0408/2024040802038.pdf">announced</a>&nbsp;that two independent non-executive directors had joined its board, both with extensive experience in accounting, audit investigations and internal corporate controls. The two new directors had also both worked at Deloitte, one of them as a partner there for 17 years.
In a further response to the concerns raised by Deloitte, the company said it had set up a special committee of board members, including non-executive directors, to oversee an independent investigation by third-party experts into the allegations.
Such committees are usually convened when listed companies are suspected of having corporate governance problems or are facing regulatory investigations. They are typically staffed by independent directors with legal or accounting expertise who have no vested interest in the matters under investigation.
<h3>What Is The Controversy About?</h3>
The details of Deloitte&rsquo;s concerns have not been made public, but potential clues can be gleaned from the CapitalWatch investigation published last August.
The short-seller website said a 16-month investigation had concluded that New Horizon Health was over-supplying to distributors who then struggled to sell the products, resulting in inflated sales figures. &nbsp;Taking the core product as an example, the report said the company sold 6,000 ColoClear products to public hospitals in 2022 for 500 yuan per unit, generating verified revenue of only 3 million yuan. &nbsp;However, the company said it made 260 million yuan by selling about 172,000 units to hospitals for about 1,483 yuan each, far above the 500 yuan cited in the investigative report and higher than the product&rsquo;s retail price in some hospitals.
At the time, the company disputed the investigation&rsquo;s findings as a distortion of the facts. But there is something unusual about the way it calculates revenue. Some expired products are counted in the revenue figures, including samples sent back to the lab for testing and ones sold to consumers after the 12-month cut-off date. In 2022, ColoClear reported shipments of 806,000 units, and 361,000 were recognized in revenue. In the first half of 2023, 539,000 units were shipped, with 429,000 units included in revenue. This suggests shipments could be overstated in financial statements or revenues otherwise inflated.
Moreover, accounts receivable as a share of total revenue have also been rising, from 31% in 2019 to 117% in the first half of 2023. CapitalWatch suspected the high receivables resulted from excessive shipments of goods to distributors, while the company cited its revenue recognition method whereby most revenue from one accounting period lands in the corporate coffers in the next period.
The independent probe is likely to take some time.&nbsp; But in the long run, New Horizon Health could still enjoy a promising future because of rising demand for cancer testing kits. Its three key screening products, ColoClear, Pupu Tube and UU Tube, target colorectal and stomach cancer, the two most common types of gastrointestinal cancer in China.
As home testing takes off, New Horizon&rsquo;s market could expand further. Right now, investors are waiting to see if the investigation commissioned by the company can reassure the market.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

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Latest News for Fidelity Low Volatility Factor ETF (ARCA:FDLO)

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