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CVS

CVS Health

$78.49

-0.63 (-0.80%)

15:28
08/08/17
08/08
15:28
08/08/17
15:28

Consensus view of CVS 2018 PBM revenue appears too high, says Baird

Baird analyst Eric Coldwell called CVS Health's Q2 report "mixed," noting that its quarterly earnings and revenue topped consensus but its 2017 EBIT guidance was lowered and its initial $1.8B of net PBM wins were "modest." Extrapolating from the initial PBM wins to the potential for 2018 PBM growth using recent historical models, Coldwell said the current consensus call for $9B of growth "feels high." The analyst, who noted he remains "particularly cautious on PBMs, including CVS," keeps a Neutral rating on the stock.

  • 08

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  • 21

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  • 22

    Sep

CVS CVS Health
$78.49

-0.63 (-0.80%)

06/27/17
LEER
06/27/17
NO CHANGE
Target $90
LEER
Outperform
CVS gained largest PBM share in 2017 selling season, says Leerink
Leerink analyst David Larsen says his firm's recently published Pharmacy Benefit Manager survey shows that CVS Health is the largest share gainer in the 2017 selling season. The company is poised to win incremental PBM and Specialty Pharmacy share, while the Optum and Cigna deals will start to benefit retail volumes in the near-term, Larsen tells investors in a research note. He keeps an Outperform rating on CVS shares with a $90 price target.
06/27/17
NEED
06/27/17
INITIATION
NEED
Hold
CVS Health initiated with a Hold at Needham
Needham analyst Kevin Caliendo initiated CVS Health with a Hold.
06/28/17
06/28/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Altaba (AABA) initiated with an Overweight at JPMorgan. 2. Aetna (AET) and Humana (HUM) were initiated with a Buy at Citi. The firm also added Aetna to its Focus List. 3. CVS Health (CVS) and Walgreens Boots Alliance (WBA) were initiated with a Hold at Needham. 4. Oaktree Capital (OAK) initiated with a Hold at Jefferies. 5. General Motors (GM) resumed with an Overweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/28/17
WELS
07/28/17
NO CHANGE
Target $9
WELS
Underperform
Insurers are dropping Valeant's top products, says Wells Fargo
United Healthcare's (UNH) formulary is no longer covering Valeant Pharmaceuticals' (VRX) number three branded drug Solodyn and will also now exclude Retin-A brand, its number four branded drug, Wells Fargo analyst David Maris tells investors in a research note. The analyst estimates the two drugs represented approximately $214M of Valeant's sales in 2016. Maris also points out that Glumetza, Valeant's number eight branded drug, and Relistor were removed in July from CVS/Caremark's (CVS) formulary. These two drugs had approximately $119M in 2016 revenues. Maris notes his counterpart Peter Costa estimates that United Healthcare covers approximately 17% of the U.S. and CVS covers approximately 33%. Express Scripts (ESRX) is releasing its 2018 national formulary next week, Costa adds. Maris keeps an Underperform rating on shares of Valeant with a $9 price target. The stock in premarket trading is down 33c, or 2%, to $16.80.

TODAY'S FREE FLY STORIES

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KKR

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Agilent

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EQM

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FPAY

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IGC

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DAL

Delta Air Lines

$57.10

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ARCE

Arco Platform

$0.00

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KMX

CarMax

$75.87

-0.01 (-0.01%)

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AINC

Ashford

$75.95

-11.75 (-13.40%)

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Ashford 270K share Secondary priced at $74.50 »

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ANAB

AnaptysBio

$94.68

-7.25 (-7.11%)

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SF

Stifel Financial

$53.96

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  • 25

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I

Intelsat

$27.08

4.365 (19.22%)

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SKY

Skyline

$30.88

0.66 (2.18%)

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  • 26

    Sep

KBH

KB Home

$25.29

-0.24 (-0.94%)

, AIR

AAR Corp.

$46.03

1.04 (2.31%)

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$25.29

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AIR

AAR Corp.

$46.03

1.04 (2.31%)

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Verastem

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CTAS

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LULU

Lululemon

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CONE

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CBS

CBS

$56.54

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  • 27

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ZUMZ

Zumiez

$27.00

-0.55 (-2.00%)

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ROST

Ross Stores

$97.54

0.26 (0.27%)

, TJX

TJX

$110.33

0.605 (0.55%)

19:03
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Initiation
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ROST

Ross Stores

$97.54

0.26 (0.27%)

TJX

TJX

$110.33

0.605 (0.55%)

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  • 25

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MNOV

MediciNova

$11.68

-0.17 (-1.43%)

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PVH

PVH Corp.

$140.00

-0.56 (-0.40%)

18:58
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Initiation
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GOOS

Canada Goose

$58.00

-0.04 (-0.07%)

18:50
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Initiation
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PM

Philip Morris

$79.91

-0.55 (-0.68%)

18:47
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URBN

Urban Outfitters

$40.06

-0.32 (-0.79%)

18:45
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Initiation
Urban Outfitters initiated at DA Davidson »

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SVMK

SurveyMonkey

$0.00

(0.00%)

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  • 26

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LULU

Lululemon

$158.42

1.04 (0.66%)

18:34
09/25/18
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Initiation
Lululemon initiated at DA Davidson »

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