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CVS Health Corp. reported lower profit in the first quarter of what its chief executive has called a "rebuilding year," as fewer customers visited its stores and it was pressured by more generic drugs.
CVS Health Corp. reported first-quarter net income of $953.0 million, or 92 cents per share, down from $1.15 billion, or $1.04 per share, for the same period last year. Adjusted EPS was $1.17, beating the $1.10 FactSet consensus. Revenue was $44.5 billion, up from $43.2 billion, and ahead of the $44.2 billion FactSet consensus. Revenue in pharmacy services was up 8.5% to $31.2 billion driven by claim volume, brand inflation and growth in specialty pharmacy. Pharmacy same-store sales fell 4.7%, impacted by about 480 basis points due to generic introductions and about 460 basis points by previously-discussed marketplace changes. Retail revenue was down 3.8% to $19.3 billion, driven largely by a 4.7% decline in same-store sales, reimbursement pressure and an increase in generic reimbursement rate. CVS confirmed its full-year EPS guidance of $5.02 to $5.18 and adjusted EPS of $5.77 to $5.93. It introduced second-quarter guidance of EPS of $1.15 to $1.19 and adjusted EPS of $1.29 to $1.33. CVS shares slipped 0.4% in Tuesday premarket trading and are down 19.2% for the past year. The S&P 500 index is up 14.7% for the last 12 months.
CVS Health sees Q2 adj. EPS $1.29-$1.33; FactSet consensus $1.33
CVS Health affirmed 2017 adj. EPS outlook $5.77-$5.93; FactSet consensus $5.86
CVS Health Q1 front-end same-store sales down 4.9%; FactSet consensus down 6.1%
CVS Health Q1 pharmacy same-store sales declined 4.7%; FactSet consensus down 4.2%
CVS Health Q1 revenue $44.51 bln vs. $43.22 bln; FactSet consensus $44.20 bln
CVS Health Q1 adj. EPS $1.17; FactSet consensus $1.10
CVS Health Q1 EPS 92 cents vs. $1.04 a year ago
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Reports indicate that the drawn-out Rite Aid (RAD)-Walgreens Boots Alliance (WBA) merger may be edging toward fruition, sending Rite Aid shares soaring Monday. [ibd-display-video id=1175457 width=50 float =left] The pop in price has been linked to a CTFN article that reportedly cites antitrust lawyers and a former DOJ official, according to Seeking Alpha. The CTFN story is behind a paywall, but StreetInsider quotes the article as saying that
CVS Option Alert: Fri $80 Puts Sweep (19) at the Ask: 853 @ $0.638 vs 112 OI; Ref=$80.31
CVS Option Alert: Jul 21 $81 Calls Sweep (19) at the Ask: 500 @ $1.27 vs 219 OI; Ref=$80.54
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Walgreens is covered by 25 Wall Street analysts. The company has received a rating of 2 on a scale of 1 (strong buy) to 5 (sell). It has 72% "buy" and 28% "hold" recommendations and no "sell" recommendations.
Walgreens Boots Alliance (WBA) was trading at $76.37 as of June 22, 2017, near its 52-week low of $76.26. The company has fallen 7.7% YTD (year-to-date).
Walgreens Boots Alliance’s (WBA) proposed acquisition of Rite Aid (RAD) continues to await FTC (Federal Trade Commission) approval 20 months after the deal's announcement.
Walgreens Boots Alliance’s (WBA) fiscal 3Q17 earnings per share (or EPS) are expected to rise 10.2% YoY (year-over-year) to $1.30.
Walgreens Boots Alliance (WBA) will be reporting its fiscal 3Q17 results on June 29, 2017. The company is expected to report a 0.8% YoY (year-over-year) rise in its total sales.
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Walgreens Boots Alliance is scheduled to release its fiscal 3Q17 results on June 29, 2017. The pharmacy giant is expected to report a 10.2% year-over-year rise in its earnings per share.
In this article, we'll discuss how Amazon’s latest bid to acquire Whole Foods Market has affected the drugstore sector and what it means for the industry going forward.
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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. | $830.69M | |
| BioScrip Inc. | $324.23M | |
| Rite Aid Corp. | $3.28B | |
| PharMerica Corp. | $811.58M | |
| Walgreens Boots Alliance Inc. | $82.52B |
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