CVS Health posts quarterly loss on $3.9 billion charge

CNN Money

CNN Money

It was also a blessing to CVS stock by beating out Wall Street's earnings per share estimate of $1.61 for the quarter. Wagner Wealth Management LLC purchased a new stake in CVS Health during the 4th quarter valued at approximately $114,000. First National Bank of Mount Dora Trust Investment Services grew its holdings in CVS Health by 2.2% during the 2nd quarter.

The company's results come at a time when PBMs are at the crosshairs of the Trump administration, which last month proposed a rule that would scale back protections now in place that allow rebates between drug manufacturers and insurers and PBMs. Leerink Swann maintained the shares of CVS in report on Friday, February 9 with "Outperform" rating. Loop Capital set a $68.00 price objective on shares of CVS Health and gave the stock a hold rating in a report on Monday, May 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock.

CVS Health traded up $2.00, hitting $67.45, during mid-day trading on Wednesday, MarketBeat.com reports. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.37 and a quick ratio of 1.88. CVS Health also updated its Q3 guidance to $1.68-1.73 EPS. CVS Health Corporation (NYSE:CVS) has declined 13.06% since August 8, 2017 and is downtrending. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.61 by $0.08. Seventeen analysts surveyed by Zacks expected $46.39 billion. The company says that it now expects earnings per share for the year to range from $6.98 to $7.08.

CVS Health Corp reported a quarterly loss compared with a year-ago profit on Wednesday, as the drugstore retailer took an impairment charge. Shareholders of record on Wednesday, July 25th were given a dividend of $0.50 per share. The firm has "Overweight" rating given on Tuesday, July 3 by Morgan Stanley. This represents a $2.00 dividend on an annualized basis and a yield of 2.97%. "At CVS Health, we're committed to delivering high-quality care when and where our patients need it and at prices they can afford".

Takeaways From the Pence 'Space Force' Sales Pitch
The secretary will oversee a unified combat command that will coordinate activities and establish combat doctrines for space. Anyway, we'll get more details on what the Space Force actually entails in coming days.

MinuteClinic Video Visits rely on a virtual care technology platform by Teledoc to provide patients with customized service through the CVS Pharmacy app.

"We believe that competition within each of the business segments in which we operate - pharmacy benefit management, pharmacies and insurers - is fierce and will remain so", the company said in a statement.

CVS Health on Wednesday introduced a new telemedicine service for people with minor illnesses and injuries, which the Rhode Island-based pharmacy giant says will allow patients in nine US states and Washington, D.C., to pay $59 for an online videoconference with a licensed healthcare professional.

Recommended News

  • Why Manchester United vetoed Jose Mourinho's short-term fixes

    Why Manchester United vetoed Jose Mourinho's short-term fixes

    The Portuguese has publicly criticised his players during pre-season, suggesting they're not good enough. I think Mr [Richard] Scudamore must be happy because it's a good way to start the Premier League .

    A varied diet makes you fat, say scientists

    The new advisory points out that there are many ways to define a varied diet, and some of them aren't so healthy. Doctors with the America Heart Association say there's no proof that a diverse diet is healthy.
    John Barnes gives Premier League title and top four prediction

    John Barnes gives Premier League title and top four prediction

    Mauricio Pochettino pushed to sign Aston Villa's Jack Grealish but that deal became dead and led to the North Londoners finishing the reduced window with a grand total of zero signings.
  • Perseid meteor shower: how to see shooting stars this weekend

    Perseid meteor shower: how to see shooting stars this weekend

    But the best time to watch the shower is in the pre-dawn hours of 3-5 a.m. when the moon has set and Perseus is high in the sky. But the meteor shower does not fully awaken until around mid-August when the Perseids peak in intensity.
    Tesla shares fall 5% on Wall St. skepticism, SEC probe reports

    Tesla shares fall 5% on Wall St. skepticism, SEC probe reports

    At the same time, Musk's behavior could easily be framed as illicit stock market manipulation. Judith Burns, an SEC spokeswoman, declined to comment.
    What you need to know about the Perseid meteor shower

    What you need to know about the Perseid meteor shower

    Perseid meteors pose no threat to Earth, as many of them burn up in the atmosphere more than 50 miles above the surface. He said the meteor activity has been ongoing for more than two weeks and will continue for about another week.
  • Ayew joins Eagles in season-loan deal

    Ayew joins Eagles in season-loan deal

    The 26-year-old Ghana International will try to help Palace improve on their 11th place finish in the Premier League last season. Crystal Palace are on the verge of finalising a deal for Swansea City forward Jordan Ayew , according to a report.

    Manchester United fans pleased with Paul Pogba's performance vs Leicester City

    They were trying to get it done before the World Cup but before a ball was kicked they had it done. I think football is changing and managers should be called head coaches".
    Betts' heroics not enough to lift the Red Sox over Jays

    Betts' heroics not enough to lift the Red Sox over Jays

    Betts is the first member of the Red Sox to hit for the cycle since Brock Holt on June 16, 2015 against the Braves. Estrada held the Seattle Mariners to one run, one hit and two walks in seven innings on Saturday in a 5-1 win.
  • Market cap sinks to new 2018 low as Bitcoin drops to $6500

    Market cap sinks to new 2018 low as Bitcoin drops to $6500

    More importantly, the price failed to test the 50% Fib retracement level of the last decline from the $7,167 high to $6,139 low. BTC is seeing a daily loss of around 8 percent today but the coin's market dominance among all 1600+ currencies is 49 percent.
    Turkish lira hits record low amid financial panic, rising U.S.  tensions

    Turkish lira hits record low amid financial panic, rising U.S. tensions

    High level meetings in Washington between US and Turkish officials ended this week without an apparent resolution. It all started with Turkey's own mistakes - or, more accurately, with Turkish President Recep Tayyip Erdogan's .
    Google Play Store Now Tells You It Doesn't Have Fortnite

    Google Play Store Now Tells You It Doesn't Have Fortnite

    Additionally, to download files outside of Play Store requires users to tinker around with security permissions. Epic will also offer downloads of the game on its website in the coming days for most Android smartphones.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.