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CVS shares have been relatively muted compared to dramatic swings in Walgreens and Rite Aid shares as the two companies struggle to close their merger.
Drugstore giant CVS Health (CVS) reported mixed fourth-quarter results before the market open.
Stock: Shares, which were up in the premarket, were down 0.8% at 76.39 in afternoon trading on the stock market today after climbing 0.9% Wednesday.
Under the new terms, Walgreens will sell up to 1,200 Rite Aid stores and certain other assets, if needed, marking a 200-store increase from the original agreement.
Revenue increased 11.7% to $45.97 billion, the third straight quarter of decelerating sales growth.. Pharmacy services revenue swelled 18% to $31.26 billion.
Upcoming Earnings Reports From Coca-Cola, CVS Health and Others (NYSE: CVS) (NYSE: KO)
The consensus price target is $140.43, and the 52-week range is $93.02 to $133.55.
The consensus price target is $45.09.
The consensus estimates call for earnings per share (EPS) of $0.23 and $675.24 million in revenue.
The consensus price target is $76.30.
The consensus price target is $86.04.
Deutsche Bank estimates CVS’s share of retained DIR fees likely represent less than 2% of earnings.
Deutsche Bank is forecasting Q4 EPS of $1.67, at the midpoint of guidance for $1.64 – $1.70, and in-line with the Street.
Deutsche Bank maintains the firm’s Hold rating on CVS shares on competitive factors in both segments and the firm’s $88 PT (15x the firm’s 2017 EPS estimate).
Deutsche Bank maintains the firm’s hold rating on CVS shares on valuation.
Investors are increasingly questioning whether or not the company’s integrated PBM/retailer business model is now working against it, a theme Deutsche Bank does not expect to subside any time soon.
collected by :Molly Tony