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CVS

CVS Health

$73.20

-0.32 (-0.44%)

, AET

Aetna

$181.80

1.11 (0.61%)

07:03
01/04/18
01/04
07:03
01/04/18
07:03

CVS Health now sees Q4 adjusted EPS at lower end of $1.88-$1.92 range

Consensus $1.90. As previously announced, CVS (CVS) suspended share repurchases during the fourth quarter of 2017 due to its pending acquisition of Aetna (AET). Absent the suspension, share repurchases in 2018 would have contributed approximately 340 to 610 basis points of growth to adjusted EPS. The company had also previously announced that it would maintain its current annual dividend of $2.00 per share throughout the year. Additionally, the company revised its outlook for the fourth quarter of 2017. Due to softer margin performance in the PBM's client and retail network claims management process, the company now expects a mid-teens growth rate in the fourth quarter and about 4% for the full year for the Pharmacy Services segment's adjusted operating profit. The company continues to expect fourth quarter operating profit from its Retail/LTC segment to be at the high end of its previously-provided range of (3.5%) to (1.0%). Combined with the impact from the suspension of share repurchases, offset by a better effective tax rate, the company expects to deliver adjusted consolidated operating profit growth and adjusted EPS at the lower end of their respective ranges provided during its third quarter 2017 earnings call. At that time, the company expected adjusted consolidated operating profit growth of 5.75% to 8% and adjusted EPS of $1.88 to $1.92. Also, the company expects to meaningfully benefit in the fourth quarter from the Tax Cuts and Jobs Act, but estimates of these benefits have not been included as the company is currently assessing the law's impact on its 2017 financial statements.

CVS

CVS Health

$73.20

-0.32 (-0.44%)

AET

Aetna

$181.80

1.11 (0.61%)

  • 04

    Jan

  • 04

    Jan

CVS CVS Health
$73.20

-0.32 (-0.44%)

12/20/17
MSCO
12/20/17
DOWNGRADE
Target $207
MSCO
Equal Weight
Aetna downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Zack Sopcak downgraded Aetna (AET) to Equal Weight from Overweight and increased his price target on the stock to $207 from $192, stating that he see it as unlikely that the company will get other bids to challenge CVS Health (CVS).
01/02/18
NEED
01/02/18
NO CHANGE
Target $88
NEED
Buy
CVS Health will have multiple 2018 catalysts, says Needham
Needham analyst Kevin Caliendo raised his price target on CVS Health (CVS) to $88 from $85 while keeping his Buy rating. Caliendo says he has been frustrated on the lack of movement in the stock following the Aetna (AET) merger announcement, attributing "investor apathy" to confusion over the management's guidance and lack of clarity around the tax reform impact. The analyst estimates that the company's corporate tax rate will move to about 26% from 39% and also models about $1 in net positive EPS accretion from the Aetna deal in 2019. Caliendo lists the company's S-4 filing in early January and the road show promoting the merger as key catalysts in the near term.
01/03/18
PIPR
01/03/18
UPGRADE
Target $207
PIPR
Overweight
Aetna upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Sarah James upgraded Aetna (AET) to Overweight and raised her price target for the shares to $207 from $187. The analyst sees a potential "win-win" scenario surrounding the outcome of the CVS Health (CVS) buyout. If the deal goes through James sees 15% share upside. If the deal does not go through, Aetna is set up for "strong operational performance" with stock appreciation potential of 15% by year end, the analyst contends.
01/04/18
RAJA
01/04/18
UPGRADE
RAJA
Strong Buy
CVS Health upgraded to Strong Buy from Outperform at Raymond James
AET Aetna
$181.80

1.11 (0.61%)

12/28/17
LEER
12/28/17
NO CHANGE
LEER
CMS Medicare Advantage Payment Notice positive for Humana, UnitedHealth, says Leerink
Leerink analyst Ana Gupte views the CMS 2019 Medicare Advantage Payment Notice with Methodological Changes on Risk Adjusters as a likely positive precursor to the actual rate change and a positive catalyst. The analyst believes the notice is most positive for Humana (HUM), UnitedHealth (UNH) and WellCare (WCG), but also positive for the sector as a whole including Aetna (AET), Cigna (CI), Anthem (ANTM), Centene (CNC) and Molina Healthcare (MOH). The notice offers a change in the risk adjustment methodology that is more industry friendly than the status quo and this combined with a 4% underlying cost trend expectation should offer a positive advance rate announcement in February and final in April. Gupte also expects that the Republican Administration will drive tax reform as part of an imperative to reaccelerate what is likely irreversible privatization of Medicare, after the slowdown as part of the budget cuts in the era of ObamaCare.

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BankUnited

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UPS

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COP

ConocoPhillips

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ABBV

AbbVie

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AAL

American Airlines

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PLUS

ePlus

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TCO

Taubman Centers

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RTN

Raytheon

, LMT

Lockheed Martin

$329.23

-7.14 (-2.12%)

09:15
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Recommendations
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Raytheon

LMT

Lockheed Martin

$329.23

-7.14 (-2.12%)

GD

General Dynamics

$214.53

-7.51 (-3.38%)

NOC

Northrop Grumman

$333.06

-7.94 (-2.33%)

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ALGT

Allegiant Travel

$143.35

-0.1 (-0.07%)

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COLB

Columbia Banking

$44.76

0.05 (0.11%)

09:14
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FB

Facebook

$159.69

0.03 (0.02%)

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SIEN

Sientra

$12.91

-0.88 (-6.38%)

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BAH

Booz Allen

$39.82

-0.31 (-0.77%)

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CFR

Cullen/Frost

$109.66

0.22 (0.20%)

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ABBV

AbbVie

$91.91

0.57 (0.62%)

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ABBV

AbbVie

$91.91

0.57 (0.62%)

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SCG

Scana

$36.56

0.78 (2.18%)

09:09
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MSL

MidSouth Bancorp

$13.45

-0.15 (-1.10%)

09:08
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  • 27

    Apr

F

Ford

$11.11

0.16 (1.46%)

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  • 01

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MTH

Meritage Homes

$43.43

0.625 (1.46%)

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  • 26

    Apr

MATR

Mattersight

$2.15

-0.1 (-4.44%)

, NICE

Nice Systems

$93.85

-1.34 (-1.41%)

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$2.15

-0.1 (-4.44%)

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$93.85

-1.34 (-1.41%)

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  • 14

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GM

General Motors

$38.10

0.18 (0.47%)

09:07
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GM continues to see FY18 adjusted EPS in 'mid-$6' range, consensus $6.33 »

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