CVS Health shares down 3.6% in Wednesday trading
CVS Health shares down 3.6% in Wednesday trading
Previous Close |
---|
$68.00 |
5 Day |
|
1 Month |
|
3 Month |
|
YTD |
|
1 Year |
|
CVS Health shares down 3.6% in Wednesday trading
CVS Health upgraded to buy from hold at CFRA, maintains $79 price target
CVS Health Corp.'s revenue rose as it filled more prescriptions and benefited from a lower effective tax rate. The drugstore chain said Wednesday its first-quarter revenue increased 2.6% from a year ago to $45.7 billion, up from $44.5 billion a year ago. Revenue jumped 5.6% in its retail and long-term care segment as same-store prescription volumes rose 8.5%.
CVS Health Corp. shares rose 1.5% in premarket trade Wednesday after the company reported a first-quarter profit beat and upbeat 2018 guidance. Earnings for the latest quarter rose to $998 million, or 98 cents per share, from $953 million, or 92 cents per share in the year-earlier period. Adjusted earnings-per-share were $1.48, compared with the FactSet consensus of $1.41. The latest earnings results include a $153 million increase in operating profit and a $221 million interest expense increase related to the company's planned Aetna acquisition. Revenue rose to $45.69 billion from $44.51 billion, compared with the FactSet consensus of $45.8 billion. CVS expects 2018 EPS of $5.11 to $5.32 and 2018 adjusted EPS of $6.87 to $7.08, above the FactSet consensus of $6.47. In the second quarter, CVS expects EPS of $1.21 to $1.26 and adjusted EPS of $1.59 to $1.64. CVS also said it received a second request for information from the Department of Justice in February regarding the Aetna acquisition; it still expects the transaction to close by the second half of the year. CVS shares have dropped 11% over the last three months, compared with a nearly 4% drop in the S&P 500 and a 5.6% drop in the Dow Jones Industrial Average .
CVS's stock surges 1.5% premarket after Q1 results
CVS Q1 pharmacy same-store sales up 7.3%; FactSet consensus up 5.2%
CVS Q1 same-store sales rose 4.8%; FactSet consensus 4.6%
CVS sees Aetna deal closing in the 2nd-half of the year
CVS Q1 revenue $45.69 bln vs. $44.51 bln; FactSet consensus $45.77 bln
CVS Q1 adj. EPS $1.48; FactSet consensus $1.41
CVS Q1 EPS 98 cents vs. 92 cents a year ago
In spite of reports that Wegmans pharmacies are out of stock of the EpiPen allergic reaction treatment, the Food and Drug Administration is not currently aware of any U.S. shortage, though the regulator continues to monitor the supply, spokesperson Lauren Smith Dyer. Pfizer , which manufactures the Mylan product through one of its business units, said that it is currently shipping products but supplies may vary from pharmacy to pharmacy. EpiPen shortages have been seen in Canada and the United Kingdom, and Canada recently said it is working with the U.S. to alleviate the shortage. "We understand how important this potentially life-saving product is to patients, and we are working closely with Mylan to monitor supply levels so patients have access to epinephrine auto injector products," Pfizer spokesperson Steve Danehy said. MarketWatch's requests for comment to to Mylan and many U.S. pharmacy chains were not immediately returned.
Aetna Inc. said Tuesday afternoon it would reorganize its business units ahead of its expected acquisition by CVS Health Corp. Aetna said it would break its business down into a health-care segment and a "Corporate/Other" category, which will include discontinued products, divested contracts and corporate expenses that do not support Aetna's business operations. The company restated previous financial statements to reflect the change in Tuesday's announcement, and will present financials in the new fashion when reporting first-quarter earnings May 1. CVS announced plans to buy Aetna for about $69 billion in cash and stock last December.
Drug store chain CVS Health Corp. said Wednesday it is launching a program aimed at helping its customers, pharmacists and doctors tackle the rising costs of medication. The company said its new CVS Pharmacy Rx Savings Finder will enable retail pharmacists to quickly find prescription savings, including medications for many common or chronic conditions that are available for zero copay. It will also provide prescribers with access to lower-cost medications through their electronic health record system and to CVS Caremark members through the member portal and updated app. "Today's consumers are faced with higher prescription drug prices than ever before and many of them are now paying for a larger share of their prescription drug costs out of their own pockets at the pharmacy counter due to growth in high deductible health plans," said Thomas Moriarty, Chief Policy and External Affairs Officer, CVS Health. CVS shares were slightly lower premarket and have lost 18% in the last 12 months, while the S&P 500 has gained 13%.
The convenience-store chain is falling behind rivals that are gleaning more sales from healthier snacks and freshly cooked meals.
Among the companies with shares expected to trade actively in Wednesday's session are Apple, T-Mobile, Mastercard, Snap, CVS Health and Mondelez.
CVS Health’s revenue rose as it filled more prescriptions and its earnings benefited from a lower effective tax rate.
Many of America’s biggest retailers, under assault from Amazon, have been slashing staff even faster than they have been closing stores, a dynamic that has left fewer clerks and longer checkout lines.
Analysts can’t get much sleep as first-quarter earnings continue to pour in. And they’re running out of superlatives. But investors aren’t as impressed.
Hawaii is a market where national retailers typically rack up higher-than-average store sales and enjoy low vacancy rates. But headwinds from the continental U.S. are starting to reach America’s 50th state.
Transportation companies boosted major indexes Monday, as some strong corporate-profit reports helped investors look past simmering geopolitical tensions.
After years of rock-bottom rates and low interest expenses, companies will find refinancing a painful process.
Some Rite Aid shareholders plan to oppose a merger with grocer Albertsons Cos. that they believe undervalues the struggling pharmacy chain.
Among the companies with shares expected to trade actively in Wednesday's session are Facebook, Sprint, CVS Health, JetBlue Airways, eBay and Analogic.
Anthem may be smart in sitting out the recent deal-making in insurance. Some proposed deals haven’t been popular with shareholders, and approvals may be difficult. Anthem can always make a move later.
The U.S. Surgeon General on Thursday urged individuals and families at risk of opioid abuse to keep naloxone on hand, which rapidly reverses an overdose of drugs such as morphine and heroin.
Best Buy has drawn criticism for using Retail Equation to generate consumers’ ‘risk score.’ Other retailers using the firm include J.C. Penney, Sephora, CVS and Victoria’s Secret.
Cigna’s purchase will likely close by year-end. The deal spread has widened to about 30% and Express Scripts trades below where it did prior to the deal announcement.
Early-stage deal talks between Walmart and Humana are deepening anxiety in the hospital sector, which is already grappling with sluggish growth and competition from cheaper health-care options.
U.S. companies have been bulking up on debt, introducing another wild card into markets already rattled by the recent tech selloff and the prospect of rising interest rates.
After going on a long upward flight, some of them are crashing back to earth. Also, the yield curve sends a danger signal.
Walmart’s potential acquisition of a health insurer would push it far beyond its big-box roots, enabling it to diversify away from the competitive pressures of retailing yet also thrusting it into a complicated and rapidly evolving health-care sector.
There is a method to the madness of retailers that want to buy health insurers, but Wall Street still isn’t crazy about it.
Perhaps as much as $50 billion, according to one estimate.
The Rhode Island–based CVS Health (CVS) reported results for 1Q18 before the morning bell today.
CVS Health Corporation 2018 Q1 - Results - Earnings Call Slides
The convenience-store chain is falling behind rivals that are gleaning more sales from healthier snacks and freshly cooked meals.
CVS Health Q1 revenues up 3%; non-GAAP EPS 27%; updates guidance; shares ahead 5% premarket
CVS Health’s revenue rose as it filled more prescriptions and its earnings benefited from a lower effective tax rate.
CVS Health Q1 revenues uo 3%; non-GAAP EPS 27%; updates guidance; shares ahead 5% premarket
3 Reasons to Consider Buying CVS Health Stock Before Earnings
Aetna Inc (AET) Slims and Trims Before Marriage to CVS
Drug store chain CVS Health Corporation is too cheap to ignore, with a P/E ratio of just 10.81 and a dividend yield of 2.86%.
Vulcan Value Partners Commentary - Q1 2018
CVS: Going Long, And Understanding The Aetna Deal
CVS Health is expecting a 0.5% to 4.5% increase in adjusted operating profit during the first quarter of 2018.
CVS Health (CVS) is expected to report a 19.7% YoY (year-over-year) increase in earnings to $1.40 per share in 1Q18.
Many of America’s biggest retailers, under assault from Amazon, have been slashing staff even faster than they have been closing stores, a dynamic that has left fewer clerks and longer checkout lines.
24/7 Wall St. has put together a preview of Alibaba, CVS, Tesla and some of the other most anticipated earnings reports due in the coming week.
CVS Health: A Store-Level Look At The Proposed Healthcare Giant
Aetna Inc Stock Is Low-Risk, Big-Reward at Current Levels
CVS Health Recognized By DiversityInc as Top 50 Company for Diversity For Second Year in a Row
CVS Health Reports First Quarter Results And Confirms 2018 Full Year Outlook
CVS Health Underscores Commitment to Safe Medication Disposal Ahead of National Prescription Drug Take-Back Day on April 28
CVS Health Releases 11th Annual Corporate Social Responsibility Report
CVS Health Corporation To Hold First Quarter 2018 Conference Call
CVS Pharmacy Offering Hepatitis A Vaccine to Kentuckians Following an Increase in Confirmed Cases of the Virus
CVS Health Expands Safe Drug Disposal at CVS Pharmacy Locations in Ohio to Help Combat Opioid Abuse
CVS Pharmacy Launches First Campaign Featuring Unaltered Beauty Imagery
EX-Dividend Schedule: CVS Health Has a Dividend Yield of 3.03%; Will Trade Ex-Dividend on April 20, 2018
Phoenix VA Health Care System, TriWest and CVS Health Mark First Anniversary of Program that Expands Veterans' Access to Health Care
Today's Research Reports on Trending Tickers: CVS Health and Centene
CVS Health Appoints Kevin Hourican as President of CVS Pharmacy
CVS Health Expands Safe Drug Disposal at CVS Pharmacy Locations in West Virginia to Help Combat Opioid Abuse
Thinking about buying stock in Alkermes, Bank of America, CVS Health Corp, The Goldman Sachs Group and Tesla Motors
CVS Health Teams Up with Job Corps to Enhance Workforce Development Opportunities for Aspiring Pharmacy Technicians
CVS Health Names Marc-David Munk, MD, MPH, MHCM, as Chief Medical Officer of MinuteClinic and Associate Chief Medical Officer of CVS Health
CVS Health Fights Back on High Cost Drugs by Launching the Industry's Most Comprehensive Approach to Saving Patients Money
CVS Health Fights Back on High Cost Drugs by Launching Industry's Most Comprehensive Approach to Saving Patients Money
Medicare Stand-Alone PDP Membership Up 1.6% According to Mark Farrah Associates
CVS Health Kept Drug Price Growth Nearly Flat and Improved Medication Adherence for PBM Clients in 2017
CVS Health Corp. engages in the provision of health care services. It operates trough the following segments: Pharmacy Services, Retail or Long Term Care, and Corporate. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise. The Corporate segment involves in providing management and administrative services. The company was founded by Stanley P. Goldstein and Ralph Hoagland in 1963 and is headquartered in Woonsocket, RI. (See Full Profile)
Name | Chg % | Market Cap |
---|---|---|
PetMed Express Inc. | $706.61M | |
BioScrip Inc. | $343.5M | |
Rite Aid Corp. | $1.75B | |
Walgreens Boots Alliance Inc. | $64.87B |