CVS Health posts quarterly loss on $3.9 billion charge

By Ankur Banerjee and Ashwin Shyam

By Ankur Banerjee and Ashwin Shyam

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".

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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.

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