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CVS Health Corp (CVS)

CVS on New York Consolidated

80.53USD
7 Dec 2016
Change (% chg)

$1.11 (+1.40%)
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Latest Key Developments (Source: Significant Developments)

CVS Health posts Q3 adjusted earnings per share of $1.64
Tuesday, 8 Nov 2016 07:00am EST 

CVS Health Corp : Lowers and narrows 2016 guidance . In Q4 of 2016, expects to deliver gaap diluted EPS of $1.52 to $1.58 and adjusted EPS of $1.64 to $1.70 . Sees full year gaap diluted EPS lowered and narrowed to $4.84 to $4.90 from $4.92 to $5.00 . Sees full year adjusted eps lowered and narrowed to $5.77 to $5.83 from $5.81 to $5.89 . Raised outlook for full year cash flow from operations to $9.3 to $9.5 billion; free cash flow to $6.8 to $7.0 billion . Board of directors approved a new share repurchase program for up to $15 billion of company's outstanding common stock . Qtrly same store sales increased 2.3% versus q3 of 2015 . Included in preliminary 2017 outlook is impact from projected loss of more than 40 million retail prescriptions related to marketplace changes . Qtrly pharmacy same store sales rose 3.4% . Recent pharmacy network changes in marketplace expected to cause some retail prescriptions to migrate out of cvs pharmacies this quarter . Qtrly front store same store sales decreased 1.0% . "We are currently experiencing slowing prescription growth in overall market as well as a soft seasonal business" . FY2016 earnings per share view $5.85 -- Thomson Reuters I/B/E/S . FY2017 earnings per share view $6.52 -- Thomson Reuters I/B/E/S . "While we expect a healthy increase in pbm operating profit growth in 2017, we expect a decrease in retail operating profit growth".  Full Article

CVS reports Q3 adjusted EPS of $1.64
Tuesday, 8 Nov 2016 05:00am EST 

CVS Health Corp : CVS Health reports third quarter results . Q3 adjusted earnings per share $1.64 . Q3 GAAP earnings per share $1.43 from continuing operations . Q3 revenue $44.6 billion versus I/B/E/S view $45.29 billion . Q3 same store sales rose 2.3 percent . Q3 earnings per share view $1.57 -- Thomson Reuters I/B/E/S . Sees FY 2017 adjusted earnings per share $5.77 to $5.93 . Sees FY 2017 GAAP earnings per share $5.16 to $5.33 . Lowers and narrows 2016 guidance . raised outlook for full year cash flow from operations to $9.1 billion-$9.3 billion; sees FY free cash flow $6.8 billion-$7.0 billion . In Q4 of 2016, expects to deliver GAAP diluted eps of $1.52 to $1.58 and adjusted eps of $1.64 to $1.70 . sees full year GAAP diluted eps lowered and narrowed to $4.84 to $4.90 from $4.92 to $5.00 . sees full year adjusted eps lowered and narrowed to $5.77 to $5.83 from $5.81 to $5.89 . Board of directors approved a new share repurchase program for up to $15 billion of company's outstanding common stock . Qtrly same store sales increased 2.3% versus Q3 of 2015 . Included in preliminary 2017 outlook is impact from projected loss of more than 40 million retail prescriptions related to marketplace changes . Qtrly pharmacy same store sales rose 3.4% . Recent pharmacy network changes in marketplace expected to cause some retail prescriptions to migrate out of cvs pharmacies this quarter . Qtrly front store same store sales decreased 1.0%.  Full Article

CVS Health says eliminating small percentage of positions in Nov and Dec 2016
Thursday, 3 Nov 2016 02:35pm EDT 

CVS Health Corp : CVS Health Corp - eliminating a small percentage of positions at CVS health in November and December 2016 . CVS Health Corp - about 600 positions located primarily in our corporate facilities in Rhode Island, Illinois and Arizona will be affected Further company coverage: [CVS.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

CVS Health Inc to eliminate 600 jobs - WSJ, citing statement
Thursday, 3 Nov 2016 01:37pm EDT 

: CVS Health Inc to eliminate 600 jobs - WSJ, citing statement . CVS is eliminating jobs at corporate offices in Rhode Island, Illinois and Arizona over the next two months- WSJ, citing statement Source : (http://on.wsj.com/2fj28Rg) ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

CVS Health makes overdose-reversal drug available without prescription in Colorado
Wednesday, 17 Aug 2016 09:30am EDT 

CVS Health Corp : Makes overdose reversal drug available without a prescription at all CVS pharmacy locations in Colorado .In addition to Colorado, CVS pharmacy locations in 30 other states able to dispense naloxone to patients without individual prescription.  Full Article

CVS Health Makes Overdose-Reversal Drug Naloxone Available Without A Prescription in Idaho
Friday, 12 Aug 2016 09:30am EDT 

CVS Health Corp :Opioid overdose-reversal medication Naloxone is now available without a prescription at CVS Pharmacy locations in Idaho.  Full Article

Concordia International confirms strategic review is ongoing
Wednesday, 3 Aug 2016 09:24am EDT 

Concordia International Corp : Concordia International Corp. Confirms that strategic review is ongoing and provides update on its business . Confirmed that its review of strategic alternatives is ongoing and provided an update on its business . Concordia has no liquidity or debt issues . There was one formulary change affecting two products in its North America portfolio . CVS did not reimburse for nilandron at all in past three years and has reimbursed dutoprol twice in 2016 . Concordia International Corp. Confirms that strategic review is ongoing and provides update on its business . CVS Health confirmed that nilandron and dutoprol will be removed from CVS Health's formulary .Removal of treatments from cvs health's formulary is immaterial to business.  Full Article

CVS Health Q2 GAAP earnings per share $0.86
Tuesday, 2 Aug 2016 06:55am EDT 

Cvs Health Corp : CVS health reports second quarter results . Q2 GAAP earnings per share $0.86 . Q2 same store sales rose 2.1 percent . Sees q3 2016 adjusted earnings per share $1.55 to $1.58 excluding items . Q2 adjusted earnings per share $1.32 . Q2 revenue $43.7 billion versus i/b/e/s view $44.28 billion . Q2 earnings per share view $1.30 -- Thomson Reuters I/B/E/S . Sees q3 2016 gaap earnings per share $1.38 to $1.41 . Full year adjusted eps guidance raised and narrowed . Raised and narrowed full year adjusted eps to $5.81 to $5.89 from $5.73 to $5.88 . Q3 earnings per share view $1.55 -- Thomson Reuters I/B/E/S . Raised cash flow guidance for 2016 and now expects to deliver cash flow from operations of $8.8 billion to $9.1 billion . Qtrly same store sales increased 2.1% versus q2 of 2015 . Revised full year gaap diluted eps to $4.92 to $5.00 from $5.24 to $5.39 . When co reports subsequent qts, fy earnings per share guide expected to be cut to reflect impact from future acquisition-related integration costs . Fy2016 earnings per share view $5.82 -- Thomson Reuters I/B/E/S .Cvs Health Corp sees q3 adjusted eps of $1.55 to $1.58.  Full Article

CVS Health to increase access to FDA-approved nasal naloxone for patients without insurance
Friday, 29 Jul 2016 10:11am EDT 

CVS Health Corp: Says to increase access to FDA-approved nasal naloxone for patients without insurance .CVS Pharmacy patients purchasing Narcan nasal spray without insurance will receive a $35 discount coupon to purchase medication.  Full Article

CVS Health sets quarterly dividend of $0.425 per share
Wednesday, 6 Jul 2016 01:05pm EDT 

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

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CVS cuts forecast after contract losses to Walgreens, shares dive

Drugstore chain and pharmacy benefits manager CVS Health Corp cut its profit forecast for this year and projected weak growth for 2017, saying it expected to lose more than 40 million retail prescriptions to other pharmacy chains, sending its shares down as much as 17 percent to a more than two-year low. | Video