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CVS Health Corp (CVS.N)

CVS.N on New York Stock Exchange

76.64USD
26 May 2017
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Latest Key Developments (Source: Significant Developments)

CVS Health on conf call- Have net new PBM business of about $5.4 bln in 2017
Tuesday, 2 May 2017 10:04am EDT 

May 2 (Reuters) - Cvs Health Corp :In presentation - already have some PBM contract wins for ’18.In presentation - disappointed to lose FEP specialty pharmacy contract, expect 2017 revenues of about $2.8 billion from contract.On conf call- have net new PBM business of about $5.4 billion.Generated $3.1 billion of free cash in Q1, which is unusually high due in large part to timing of receipt of a medicare part D payment.Exec- "looking at more buy and operate opportunities where we can go into a marketplace with a small scale player who serves a great set of customers we don't have any CVS nearby".  Full Article

Aetna CFO sees 2017 individual loss at half of 2016
Tuesday, 2 May 2017 09:20am EDT 

May 2 (Reuters) - Aetna Inc :Aetna CFO says expects 2017 individual loss to be about one-half the size of 2016 loss, has 0ne-quarter of 2016 membership.Aetna CEO says in discussions with CVS Health regarding its pharmacy benefit management conract, which in place until 2020.  Full Article

CVS Health reports Q1 adjusted earnings per share $1.17
Tuesday, 2 May 2017 06:55am EDT 

May 2 (Reuters) - CVS Health Corp : :CVS Health reports first quarter results; confirms 2017 eps guidance.Q1 adjusted earnings per share $1.17.Q1 GAAP earnings per share $0.92 from continuing operations.Q1 revenue $44.5 billion versus I/B/E/S view $44.2 billion.Q1 earnings per share view $1.10 -- Thomson Reuters I/B/E/S.Sees Q2 2017 adjusted earnings per share $1.29 to $1.33.Sees FY 2017 adjusted earnings per share $5.77 to $5.93.Says front store same store sales declined 4.9pct in three months ended March 31, 2017.Says company confirmed its previous EPS and cash flow guidance for full year and provided guidance for q2 of 2017.CVS Health - Q1 front store sales negatively impacted by softer customer traffic and efforts to rationalize promotional strategies, partially offset by increase in basket size.Qtrly pharmacy same store sales decreased 4.7pct.Qtrly pharmacy same store sales negatively impacted by approximately 480 basis points due to recent generic introductions.Q1 earnings per share view $1.10, revenue view $44.20 billion -- Thomson Reuters I/B/E/S.FY2017 earnings per share view $5.86, revenue view $184.25 billion -- Thomson Reuters I/B/E/S.Q2 earnings per share view $1.33 -- Thomson Reuters I/B/E/S.  Full Article

CVS says specialty pharmacy services contract for Blue Cross, Blue Shield Federal Employee Program will terminate at end of 2017
Friday, 31 Mar 2017 09:57am EDT 

CVS Health Corp : CVS Health -confirmed that contract to provide specialty pharmacy services for Blue Cross, Blue Shield Federal Employee Program will terminate at end of 2017 . CVS Health Corp - given contract expires at year end, the loss of contract does not affect the company’s 2017 financial results .CVS Health Corp - loss of specialty pharmacy contract, is not expected to have a material impact on the company’s operating profit in 2018.  Full Article

Reynolds, State Officials and CVS Health announce availability of Naloxone at all CVS Pharmacy locations in Iowa
Wednesday, 29 Mar 2017 05:10pm EDT 

CVS Health Corp :CVS Health Corp - Iowa Lt. Gov. Kim reynolds, state officials and CVS Health announce availability of Naloxone at all CVS Pharmacy locations in Iowa.  Full Article

CVS Health reports Q4 adj. EPS $1.71
Thursday, 9 Feb 2017 06:55am EST 

Cvs Health Corp : Qtrly net revenues increased 11.7 pct to $46.0 billion . Qtrly adjusted EPS of $1.71 . Qtrly GAAP diluted EPS from continuing operations of $1.59 . Qtrly same store sales decreased 0.7 pct versus prior year, with pharmacy same store sales up 0.2 pct . 2017 guidance confirmed . Qtrly front store same store sales down 2.9 pct . Q1 earnings per share view $1.11 -- Thomson Reuters I/B/E/S . FY2017 earnings per share view $5.86 -- Thomson Reuters I/B/E/S . CVS Health reports record fourth quarter and full year results for 2016; confirms 2017 EPS guidance . Sees Q1 2017 adjusted earnings per share $1.07 to $1.13 . Sees FY 2017 adjusted earnings per share $5.77 to $5.93 . Sees FY 2017 GAAP earnings per share $5.02 to $5.18 . Pharmacy same store sales were negatively impacted for quarter by approximately 380 basis points due to recent generic introductions . Q4 earnings per share view $1.67 -- Thomson Reuters I/B/E/S . Q4 revenue view $46.50 billion -- Thomson Reuters I/B/E/S .In connection with anticipated store closures, company recorded a $34 million asset impairment charge in three months ended December 31, 2016.  Full Article

CVS Health 18 pct dividend increase for 2017
Thursday, 15 Dec 2016 07:30am EST 

Cvs Health Corp : Guidance for adjusted eps reaffirmed for 2016 and 2017 . Expect to deliver approximately $700 to $750 million in annual savings across enterprise by 2021 . CVS Health Corp - reaffirmed its previous cash flow outlook for 2016 . Board has approved an 18 percent increase in annual dividend in 2017, an increase that translates to $2.00 per share . CVS Health Corp - in 2017, company expects to deliver cash flow from operations of $7.7 billion to $8.6 billion . 18% dividend increase for 2017 . Gaap diluted eps is now expected to be in range of $4.82 to $4.88 in 2016 and $5.02 to $5.18 in 2017 . FY 2016 earnings per share view $5.81 -- Thomson Reuters I/B/E/S .FY 2017 earnings per share view $5.87 -- Thomson Reuters I/B/E/S.  Full Article

CVS says "Caught a little bit off guard" in bid process for Prime, TRICARE network
Tuesday, 8 Nov 2016 09:44am EST 

Cvs Health Corp : CVS Health executive says for Q4 2016 total same-store sales at retail are expected to be flat to down 1.75 percent -conf call . CVS Health executive says "For the fourth quarter, we expect enterprise revenues to be up 12.25 percent to 14 percent driven primarily by PBM growth" -conf call . Currently expect an increase in PBM EBIT of about 8 percent and the decrease in retail EBIT of about 8 percent in 2017 . Says "Caught a little bit off guard" in bid process for Prime and TRICARE network . CVS- Although both Omnicare, Target pharmacy acquisitions are performing well, ramp-up in level of accretion is slightly slower than anticipated . CVS Health- Given recent network changes it has become more difficult to grow share and therefore offset ongoing margin pressures in the near term . CVS - Maintaining 10 percent to 14 percent adjusted EPS growth rate annually off a larger base is becoming more challenging; now anticipate growth of about 10 percent on average . Expect annual EPS growth to generate to $7-$8 billion in free cash flow per year on average- conf call Further company coverage: [CVS.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

CVS Pharmacy announces voluntary withdrawal of homeopathic teething products
Friday, 30 Sep 2016 05:52pm EDT 

CVS Health Corp : Voluntary withdrawal being conducted in light of FDA's announcement recommending consumers stop using homeopathic teething products . CVS Pharmacy announces voluntary withdrawal of homeopathic teething products .A "do not sell" block has been placed in co's store register system to prevent further sale of any affected items.  Full Article

CVS Health sets quarterly dividend of $0.425 per share
Thursday, 22 Sep 2016 12:14pm EDT 

CVS Health Corp :Sets quarterly dividend of $0.425 per share.  Full Article

More From Around the Web

CVS's Omnicare to pay $23 million to resolve U.S. kickback case

BOSTON CVS Health Corp's Omnicare unit has agreed to pay $23 million to resolve a long-running whistleblower lawsuit alleging that it took kickbacks from a drugmaker, according to settlement papers released on Friday.