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CVS

CVS Health

$68.68

-0.33 (-0.48%)

, AET

Acquired by CVS

$177.29

0.22 (0.12%)

11:31
03/13/18
03/13
11:31
03/13/18
11:31

CVS Health stockholders approve Aetna acquisition

In a special meeting, CVS Health Corporation (CVS) stockholders voted to approve the shares of company stock to be issued in the company's acquisition of Aetna (AET). According to the preliminary results announced at the meeting, more than 98% of the shares voted were in favor of the proposal. The merger is expected to close in the second half of 2018, subject to required regulatory approvals.

CVS

CVS Health

$68.68

-0.33 (-0.48%)

AET

Acquired by CVS

$177.29

0.22 (0.12%)

  • 13

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    May

CVS CVS Health
$68.68

-0.33 (-0.48%)

02/09/18
NEED
02/09/18
NO CHANGE
Target $98
NEED
Strong Buy
CVS Health price target lowered to $98 after earnings at Needham
Needham analyst Kevin Caliendo lowered his price target on CVS Health to $98 from $100 after the company's earnings. Caliendo notes that while the PBM and retail businesses were solid, the negative development of CVS planning to reinvest $1.2B of tax reform windfall in compensation and infrastructure "undermined the positives". The analyst is also concerned with President Trump's budget proposal focusing on curbing drug prices. However, he maintains a Strong Buy rating on CVS shares.
02/14/18
JEFF
02/14/18
NO CHANGE
JEFF
Amazon focusing on bolstering medical device distribution, says Jefferies
Yesterday's Wall Street Journal report and a recent scan of job postings still point to Amazon.com's (AMZN) focus on bolstering its medical device/supplies distribution capabilities, specifically targeting hospitals, Jefferies analyst Brian Tanquilut. These postings support a negative thesis for Cardinal Health (CAH), Owens & Minor (OMI) and Premier's (PINC) medical supplies businesses, the analyst adds. Further, he sees the news as an incremental positive for AmerisourceBergen (ABC), McKesson (MCK), CVS Health (CVS) and Walgreens Boots Alliance (WBA) since it further supports the view that Amazon isn't looking to enter the prescription business near-term.
02/27/18
BOFA
02/27/18
INITIATION
Target $91
BOFA
Buy
CVS Health reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Michael Cherny reinstated coverage on CVS Health with a Buy and $91 price target.
03/08/18
JEFF
03/08/18
NO CHANGE
Target $91
JEFF
Buy
Jefferies does not expect competing bids for Express Scripts
Jefferies analyst Brian Tanquilut believes Cigna (CI) is paying a fair price for Express Scripts (ESRX) and does not expect competing bids to emerge. The deal is another mark on the ongoing vertical integration wave in Healthcare, Tanquilut tells investors in a research note. The analyst previously stated that Express Script would be the most logical acquisition target for Amazon (AMZN) if the tech giant truly had aspirations of entering the pharmacy retailing market. However, it appears that speculation has quieted down in recent weeks, Tanquilut admits today. Regarding regulatory risk for the Cigna/Express Scripts deal, the analyst believes scrutiny will come mostly from the government's interest in what a large-scale combination of large players from two different healthcare sub-sectors will bring to overall drug costs, patient premiums and out-of-pocket dollars. He highlights the existence of UnitedHealth's (UNH) OptumRx and CVS's (CVS) Caremark. Cigna in morning trading is down 9.5%, or $18.47, to $175.75 while Express Scripts is up 11% to $81.59.
AET Acquired by CVS
$177.29

0.22 (0.12%)

01/31/18
PIPR
01/31/18
NO CHANGE
Target $212
PIPR
Overweight
Piper sees buying opportunity in Aetna after yesterday's pullback
Piper Jaffray analyst Sarah James sees a buying opportunity in Aetna (AET) following yesterday's 3% pullback on the Amazon (AMZN), Berkshire (BRK.A) and JPMorgan (JPM) news. The company yesterday morning posted a solid earnings beat driven by strong cost trend management in the government and commercial businesses, James tells investors in a research note. She raised her price target for Aetna shares to $212 from $207 and keeps an Overweight rating on the name. CVS Health's (CVS) takeout offer now values the shares at $212, up from $207 previously, based on 0.8378 shares of CVS stock plus $145 per share in cash, James points out. The analyst sees a "win-win" setup for the stock based on the deal going through or the company remaining standalone.
01/31/18
RBCM
01/31/18
UPGRADE
Target $98
RBCM
Outperform
Express Scripts upgraded to Outperform at RBC Capital
As reported earlier, RBC Capital analyst George Hill upgraded Express Scripts (ESRX) to Outperform and raised his price target to $98 from $68. Hill cites the "recent sharp pullback on Amazon's (AMZN) healthcare entry" de-risking the stock, while also pointing to the trend of vertical integration as seen in the CVS (CVS)-Aetna (AET) deal. The analyst believes Express Scripts could also become an attractive M&A target as "one of the few remaining assets at scale".
01/31/18
FBCO
01/31/18
NO CHANGE
Target $208
FBCO
Neutral
Aetna price target raised to $208 from $200 at Credit Suisse
Credit Suisse analyst A.J. Rice raised his price target for Aetna to $208 from $200, citing on track operationally. However, the analyst is cautious on sustainability of tax benefit. He reiterates a Neutral rating on the shares.
02/01/18
02/01/18
DOWNGRADE
Target $69

Underperform
Express Scripts downgraded to Underperform at Bernstein
As previously reported, Bernstein analyst Lance Wilkes downgraded Express Scripts to Underperform from Market Perform, with a $69 price target, as he believes tax reform is fully price in and his original concerns on the standalone PBM model remain. Further, the analyst sees additional risks from a potential CVS (CVS)/Aetna (AET) merger and Amazon (AMZN) threats.

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NAV

Navistar

$32.95

0.26 (0.80%)

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AUPH

Aurinia Pharmaceuticals

$6.44

0.17 (2.71%)

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FB

Facebook

$161.69

1.23 (0.77%)

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LXRX

Lexicon

$7.79

0.18 (2.37%)

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Call buyer opens a bullish position in Lexicon Pharmaceuticals upside calls »

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HRTX

Heron Therapeutics

$24.70

0.28 (1.15%)

15:20
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Options
6X average daily option volume in Heron Therapeautics driven by call spreads »

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HNP

Huaneng Power

$23.42

-0.47 (-1.97%)

15:19
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15:19
Downgrade
Huaneng Power rating change  »

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SMAR

Smartsheet

$43.88

0.21 (0.48%)

15:19
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Options
Smartsheet options imply 12.4% move in share price post-earnings, above median historical move »

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VALE

Vale

$13.90

0.62 (4.67%)

15:18
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
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15:16
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Technical Analysis
NYSE market internals summary »

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MNK

Mallinckrodt

$23.24

0.54 (2.38%)

15:10
03/19/19
03/19
15:10
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15:10
Conference/Events
Mallinckrodt management to meet with Mizuho »

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SYMC

Symantec

$23.27

0.19 (0.82%)

15:10
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15:10
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Options
Put buyers sizing up new positions in Symantec far downside strikes »

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  • 16

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GATX

GATX

$76.90

0.21 (0.27%)

15:08
03/19/19
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15:08
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Conference/Events
GATX management to meet with Mizuho »

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BA

Boeing

$375.00

2.9 (0.78%)

15:08
03/19/19
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15:08
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Periodicals
DOT asks department watchdog to audit approval of Boeing 737, Bloomberg says »

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BA

Boeing

$375.07

2.97 (0.80%)

15:05
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Periodicals
Breaking Periodicals news story on Boeing »

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TME

Tencent Music

$19.33

0.2 (1.05%)

15:04
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15:04
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Options
Tencent options imply 12.9% move in share price post-earnings »

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NAII

Natural Alternatives International

$11.20

-0.17 (-1.50%)

15:01
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Natural Alternatives says Court of Appeals rules in its favor in patent suit »

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General news
Treasury Closing Summary: »

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KEM

Kemet

$18.34

0.02 (0.11%)

14:56
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Conference/Events
Kemet management to meet with B. Riley FBR »

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DBD

Diebold

$11.07

-0.33 (-2.89%)

14:55
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Options
Diebold put volume heavy and directionally bearish »

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AMD

AMD

$25.68

2.43 (10.45%)

, GOOG

Alphabet

$1,195.81

12.15 (1.03%)

14:54
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AMD

AMD

$25.68

2.43 (10.45%)

GOOG

Alphabet

$1,195.81

12.15 (1.03%)

GOOGL

Alphabet Class A

$1,199.72

11.63 (0.98%)

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SIEN

Sientra

$9.26

0.05 (0.54%)

14:51
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Breaking Hot Stocks news story on Sientra »

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WNS

WNS Holdings

$52.87

-0.14 (-0.26%)

14:50
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Conference/Events
WNS Holdings management to meet with Wedbush »

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JCOM

j2 Global

$86.67

0.76 (0.88%)

14:49
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Conference/Events
j2 Global management to meet with Wedbush »

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FDX

FedEx

$182.02

-0.4 (-0.22%)

14:49
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Options
Fedex options imply 8.9% move in share price post-earnings, above median historical move »

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