Momenta Pharmaceuticals Inc
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Health Care : Biotechnology | Small Cap BlendCompany profile

Momenta Pharmaceuticals, Inc. is a biotechnology company. The Company is focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection). GLATOPA 20 milligrams (mg)/ milliliters (mL) is a generic version of once-daily COPAXONE 20 mg/mL indicated for the treatment of patients with relapsing forms of multiple sclerosis, a chronic disease of the central nervous system characterized by inflammation and neurodegeneration. COPAXONE is available in both a once-daily 20 mg/mL formulation and a three-times-weekly 40 mg/mL formulation. The Company's Enoxaparin Sodium Injection is a generic version of LOVENOX indicated for the prevention and treatment of deep vein thrombosis and to support the treatment of acute coronary syndromes. The Company's programs include M254, M281 (Anti-FcRn candidate) and M230.

Price
Delayed
$14.59
Day's Change
0.2196 (1.53%)
Bid
--
Ask
--
B/A Size
--
Day's High
14.68
Day's Low
14.14
Volume
(Light)

Today's volume of 100,636 shares is on pace to be much lighter than MNTA's 10-day average volume of 320,501 shares.

100,636

S&P 500 buybacks decline significantly in Q2 2019; expenditures still remain higher than the pre-2018 levels

11:30 am ET September 16, 2019 (PR Newswire) Print

S&P Dow Jones Indices ("S&P DJI") announced today that preliminary Q2 2019 S&P 500(R) stock buybacks, or share repurchases, were $164.5 billion. This was the second consecutive quarterly decline after four consecutive quarters of record buybacks. Q2 2019 buybacks were 20.1% lower than Q1 2019's $205.6 billion, 13.7% lower year-over-year from Q2 2018's $190.6 billion, and 26.2% lower than the Q4 2018 record expenditure of $223.0 billion.

https://mma.prnewswire.com/media/985696/SPDJI___S_and_P_500_Div_and_Buybacks_Infographic.jpg

Historical data on S&P 500 buybacks are available at www.spdji.com/indices/equity/sp-500.

Key Takeaways:

-- While companies significantly reduced their Q2 2019 buyback expenditures from the record setting quarters of 2018, levels remain higher than 2017 and prior periods.

-- The 2018 tax rate decline may have pushed companies to overspend on buybacks, posting a 55% gain over 2017 and a 39% gain over the prior record in 2015.

-- The cumulative rolling four quarters of repurchases continued to impact EPS as 24.2% of the issues reduced share counts by at least 4% year-over-year, slightly down from the Q1 2019 24.9% rate, and substantially up from the Q2 2018's 15.6%, giving 1-in-4 issues at least a 4% EPS tailwind.

-- S&P 500 Q2 2019 dividends totaled $118.7 billion, up 6.3% from the Q2 2018 of $111.6 billion; Q3 2019 is set to post a new record, in the $122 billion range.

-- Total shareholder return of buybacks and dividends for the quarter came in at $283.2 billion, down 12.4% from the Q1 2019 period expenditure of $323.1 billion and down 6.3% from the $302.2 billion reported for Q2 2018.

-- Total shareholder return for the 12-month period ending June 2019 declined to $1.269 trillion, from the record 12-month March 2019 level of $1.288 trillion, and was up 17.3% from the year-over-year 12-month Q2 2018 of $1.081 trillion.

"In what may have been a reaction to their tax-inspired record-setting buying spree of 2018, companies significantly pulled back on their Q2 2019 buybacks, said Howard Silverblatt, Senior Index Analyst at S&P Dow Jones Indices. "While the decline is significant compared to 2018, it remains higher than the pre-2018 levels. Estimates vary, but a base amount of $170 billion a quarter has been emerging as the consensus level of buybacks going forward."

Silverblatt also found that buybacks continue to be top heavy, with the top 20 issues accounting for 51.4% of the buybacks, up a tick from the Q1 2019 51.2%, as the 10-year average is 44.1%.

Q2 2019 GICS(R) Sector Analysis:

Information Technology buybacks continued to dominate, even as they decreased 20.3% to $54.2 billion compared to $68.0 billion for Q1 2019. Twelve-month expenditures were up 33.8% to $265.8 billion from $198.7 billion spent for the same period in 2018. The sector represents 33.0% of the index's buybacks for the quarter, flat from last quarter.

Materials buyback declined 49.3% to $2.4 billion compared to $4.8 billion for Q1 2018. Utilities declined 40.4%, to 0.9 billion from 1.5 billion in Q1 2019.

Health Care buybacks continued to be volatile, as they decreased 44.5% to $17.1 billion, down from $30.7 billion for Q1 2019, as the 12-months ending in Q2 2019, buybacks were $93.6 billion, up 6.1% from the $88.2 billion spent in the corresponding 2018 period.

Issues:

The five issues with the highest total buybacks for Q2 2019 are:

-- Apple (AAPL) again led in buybacks spending $18.2 billion in Q2 2018, ranking 6th in S&P 500 history, as the level was down 23.8% from the record $23.8 billion spent in Q1 2019. Over the past 12-months, Apple has spent $71.4 billion on buybacks, almost twice the value of Ford Motor Company, up from $63.9 billion in the prior 12-month period.

-- Bank of America (BAC): $6.5 billion for Q2 2019, up from $6.3 billion for Q1 2019; in the last 12-months they spent $23.0 billion, up from $17.7 billion.

-- Oracle (ORCL): $6.3 billion for Q2 2019, down up from their $10.0 billion Q1 2019 expenditure; in the last 12 months they spent $36.6 billion, up from $11.9 billion.

-- JP Morgan (JPM): $5.2 billion for Q2 2019, up from the $5.1 billion spent in Q1 2019; in the last 12-months they spent $20.6 billion, up from $19.2 billion.

-- Cisco Systems (CSCO): $4.9 billion for Q2 2019, down from $6.1 billion for Q1 2019; in the last 12-months they spent $21.6 billion, up from $18.3 billion.

For more information about S&P Dow Jones Indices, please visit www.spdji.com.

S&P Dow Jones Indices
S&P 500, $ U.S. BILLIONS  (preliminary and estimates in bold)
PERIOD                MARKET          OPERATING       AS REPORTED                                            DIVIDEND &
                      VALUE           EARNINGS        EARNINGS        DIVIDENDS  BUYBACKS   DIVIDEND BUYBACK BUYBACK
                      $ BILLIONS      $ BILLIONS      $ BILLIONS      $ BILLIONS $ BILLIONS YIELD    YIELD   YIELD
12 Mo Jun,'19 Prelim. $24,423.49      $1,295.01       $1,132.67       $471.54    $797.03    1.93%    3.26%   5.19%
12 Mo Jun,'18         $23,036.32      $1,196.08       $1,043.63       $435.69    $645.81    1.89%    2.80%   4.69%
2018                  $21,026.90      $1,281.66       $1,119.43       $456.31    $806.41    2.17%    3.84%   6.01%
2017                  $22,821.24      $1,066.00       $940.86         $419.77    $519.40    1.84%    2.28%   4.12%
2016                  $19,267.93      $919.85         $818.55         $397.21    $536.38    2.06%    2.78%   4.85%
6/28/2019 Prelim      $24,423         $335.58         $291.25         $118.68    $164.48    1.93%    3.26%   5.19%
3/29/2019             $23,619         $316.48         $291.23         $117.33    $205.81    1.97%    3.49%   5.45%
12/31/2018            $21,027         $293.82         $242.91         $119.81    $222.98    2.17%    3.84%   6.01%
9/30/2018             $24,579         $349.04         $306.70         $115.72    $203.76    1.81%    2.93%   4.75%
6/30/2018             $23,036         $327.53         $288.55         $111.60    $190.62    1.89%    2.80%   4.69%
3/29/2018             $22,496         $311.26         $281.28         $109.18    $189.05    1.90%    2.56%   4.46%
12/29/2017            $22,821         $288.93         $230.12         $109.46    $136.97    1.84%    2.28%   4.12%
9/29/2017             $21,579         $268.35         $243.68         $105.45    $129.17    1.92%    2.40%   4.32%
6/30/2017             $20,762         $261.39         $231.40         $104.01    $120.11    1.96%    2.41%   4.37%
3/31/2017             $20,276         $247.32         $235.65         $100.86    $133.15    1.98%    2.51%   4.49%
12/31/2016            $19,268         $240.11         $207.93         $103.82    $135.29    2.06%    2.78%   4.85%
9/30/2016             $18,742         $247.98         $219.46         $98.43     $112.20    2.10%    2.92%   5.01%
6/30/2016             $18,193         $222.77         $201.79         $98.30     $127.50    2.14%    3.22%   5.36%
3/31/2016             $17,958         $208.99         $189.37         $96.67     $161.39    2.15%    3.28%   5.43%
12/31/2015            $17,900         $201.95         $163.76         $99.39     $145.88    2.14%    3.20%   5.33%
9/30/2015             $16,917         $224.14         $204.58         $95.07     $150.58    2.22%    3.30%   5.52%
6/30/2015             $18,219         $230.84         $201.35         $94.45     $131.56    2.03%    3.04%   5.07%
S&P Dow Jones Indices
S&P 500 SECTOR BUYBACKS
SECTOR $ MILLIONS       Q2,'18   Q1,'19   Q2,'18   12MoJun,'19 12MoJun,'18 5-YEARS    10-YEARS
Consumer Discretionary  $15,764  $17,721  $22,656  $78,825     $86,352     $429,464   $728,807
Consumer Staples        $7,114   $9,786   $6,580   $36,512     $39,904     $211,298   $439,981
Energy                  $4,552   $4,294   $4,285   $24,874     $21,922     $92,142    $263,972
Financials              $37,819  $42,845  $29,968  $166,948    $131,925    $593,911   $813,978
Healthcare              $17,066  $30,749  $27,241  $93,633     $88,210     $408,431   $686,549
Industrials             $16,967  $19,426  $23,426  $74,578     $64,702     $356,504   $543,959
Information Technology  $54,210  $67,986  $71,511  $265,787    $198,677    $864,307   $1,333,335
Materials               $2,420   $4,771   $3,237   $16,062     $8,998      $67,230    $108,265
Real Estate             $555     $409     $884     $2,963      $3,888      $9,334     $9,334
Communication Services  $7,132   $6,345   $419     $33,125     $601        $41,328    $72,197
Utilities               $882     $1,479   $413     $3,720      $631        $8,517     $18,596
TOTAL                   $164,481 $205,811 $190,621 $797,028    $645,811    $3,082,465 $5,018,974
S&P Dow Jones Indices
S&P 500 20 LARGEST Q2 2019 BUYBACKS, $ MILLIONS
Company                     Ticker          Sector                 Q2 2019   12-Months 12-Months 5-Year     10-Year    Indicated
                                                                   Buybacks  Jun,'19   Jun,'18   Buybacks   Buybacks   Dividend
                                                                   $ Million $ Million $ Million $ Million  $ Million  $ Million
Apple                       AAPL            Information Technology $18,154   $71,443   $63,924   $247,481   $302,414   $14,917
Bank of America             BAC             Financials             $6,507    $23,041   $17,673   $53,164    $58,059    $7,361
Oracle                      ORCL            Information Technology $6,301    $36,643   $11,853   $70,970    $99,812    $4,621
JPMorgan                    JPM             Financials             $5,210    $20,645   $19,210   $63,391    $83,456    $11,678
Cisco Systems               CSCO            Information Technology $4,936    $21,579   $18,250   $53,425    $85,891    $5,993
Wells Fargo                 WFC             Financials             $4,906    $24,691   $11,734   $63,997    $79,914    $10,187
Microsoft                   MSFT            Information Technology $4,633    $19,543   $10,721   $72,464    $112,993   $14,100
Johnson Controls Internat'l JCI             Industrials            $4,125    $5,154    $484      $8,011     $9,537     $828
Alphabet                    GOOGL           Communication Services $3,577    $11,452   $6,326    $25,996    $26,914    $0
Citigroup                   C               Financials             $3,464    $13,043   $16,071   $49,206    $52,920    $4,717
Intel                       INTC            Information Technology $3,049    $10,037   $6,920    $34,109    $62,342    $5,641
Booking Holdings            BKNG            Consumer Discretionary $2,718    $9,557    $3,178    $18,043    $19,578    $0
Johnson & Johnson           JNJ             Health Care            $2,486    $8,971    $2,715    $36,423    $58,932    $10,089
Amgen                       AMGN            Health Care            $2,415    $9,426    $15,730   $32,349    $51,126    $3,538
Biogen                      BIIB            Health Care            $2,402    $4,410    $3,000    $15,325    $20,316    $0
Visa                        V               Information Technology $2,152    $8,178    $7,418    $31,863    $44,473    $1,739
Lowe's Companies            LOW             Consumer Discretionary $1,944    $3,961    $2,535    $18,373    $34,586    $1,722
Mastercard                  MA              Information Technology $1,921    $5,920    $4,824    $20,322    $28,488    $1,498
Honeywell Internat'l        HON             Industrials            $1,900    $4,946    $3,601    $13,875    $16,396    $2,387
Walgreens Boots Alliance    FB              Communication Services $1,752    $12,083   $10,230   $24,262    $28,017    $0
Top 20                                                             $84,552   $324,723  $236,397  $953,050   $1,276,164 $101,017
S&P 500                                                            $164,481  $797,028  $645,811  $3,082,465 $5,073,953 $530,924
Top 20 % of S&P 500                                                51.40%    40.74%    36.60%    30.92%     25.15%     19.03%
Gross values are not adjusted for float
S&P Dow Jones Indices
S&P 500 20 Largest Quarterly Buybacks, $ Millions, as of Q2 2019;  Apple added at #6
$ MILLIONS       QUARTER          COMPANY                         SECTOR
$23,811          Q1 2019          Apple                           Information Technology 1
$22,908          Q1 2018          Apple                           Information Technology 2
$21,860          Q2 2018          Apple                           Information Technology 3
$21,162          Q2 2006          QUALCOMM                        Information Technology 4
$19,364          Q3 2018          Apple                           Information Technology 5
$18,154          Q2 2019          Apple                           Information Technology 6
$18,036          Q1 2014          Apple                           Information Technology 7
$17,319          Q3 2014          Apple                           Information Technology 8
$16,413          Q2 2013          Apple                           Information Technology 9
$15,707          Q3 2007          International Business Machines Information Technology 10
$13,420          Q3 2015          Apple                           Information Technology 11
$12,852          Q4 2013          Johnson & Johnson               Healthcare             12
$12,318          Q4 2016          Allergan plc (AGN)              Healthcare             13
$12,183          Q2 2012          Johnson & Johnson               Healthcare             14
$11,480          Q4 2016          Apple                           Information Technology 15
$11,133          Q4 2017          Apple                           Information Technology 16
$10,776          Q2 2016          Apple                           Information Technology 17
$10,724          Q2 2015          Apple                           Information Technology 18
$10,723          Q1 2016          Home Depot                      Consumer Discretionary 19
$10,697          Q1 2018          Amgen                           Healthcare             20
S&P Dow Jones Indices
S&P 500 Q2 2019 Buyback Report
SECTOR                  DIVIDEND            BUYBACK          COMBINED
                        YIELD               YIELD            YIELD
Consumer Discretionary  1.43%               3.12%            4.54%
Consumer Staples        3.74%               1.97%            5.71%
Energy                  4.03%               2.11%            6.15%
Financials              2.53%               5.04%            7.58%
HealthCare              1.87%               2.77%            4.64%
Industrials             2.10%               3.22%            5.32%
Information Technology  1.52%               4.90%            6.42%
Materials               2.35%               2.46%            4.82%
Real Estate             3.17%               0.38%            3.55%
Communications Services 1.60%               1.50%            3.10%
Utilities               3.18%               0.44%            3.62%
S&P 500                 2.18%               3.25%            5.43%
Uses full values (unadjusted for float)
Dividends based on indicated; buybacks based on the last 12-months ending Q2,'19
Share Count Reduction (SCR)       SCR    SCR
(Y/Y diluted shares used for EPS) >=4%   !!!!=-4%
Q2 2019                           8.00%  24.20%
Q1 2019                           8.03%  24.90%
Q4 2018                           8.45%  18.71%
Q3 2018                           6.43%  17.67%
Q2 2018                           6.20%  15.60%
Q1 2018                           7.01%  13.63%
Q4 2017                           6.83%  15.06%
Q3 2017                           8.62%  14.23%
Q2 2017                           10.00% 14.00%
Q1 2017                           12.00% 14.80%
Q4 2016                           10.48% 19.35%
Q3 2016                           9.94%  23.73%
Q2 2016                           10.48% 26.61%
Q1 2016                           10.06% 28.17%
Q4 2015                           9.48%  25.81%
Q3 2015                           9.64%  22.69%
Q2 2015                           9.04%  21.08%

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500(R) and the Dow Jones Industrial Average(R). More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit: www.spdji.com.

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