Friday | ||||
On The Fly
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Street Wrap: Today's Top 15 Upgrades, Downgrades, Initiations »
09:53 05/26/23 05/2609:53 05/26/2309:53
CVS
CVS Health
Physicians Realty Trust
MSG Entertainment
Integer
Paramount
New Relic
Hamilton Lane
Centerspace
Snowflake
Equity Residential
MongoDB
Annexon
Linde
UnitedHealth
The most talked about and… ShowHide Related Items >><<
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Thursday | ||||
Initiation
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CVS Health initiated with an Overweight at Piper Sandler »
16:08 05/25/23 05/2516:08 05/25/2316:08
CVS
CVS Health
Signify Health
Oak Street Health
Piper Sandler analyst… Piper Sandler analyst Jessica Tassan initiated coverage of CVS Health with an Overweight rating and $85 price target. CVS is "a market leader" across its healthcare financing, PBM, and retail drug store businesses and its $18B of strategic M&A earlier this year "adds value-based care delivery to the mix," the analyst tells investors. The firm feels confident in the subsequent integration efforts of the Signify (SGFY) and Oak Street (OSH) businesses under the CVS umbrella, the analyst added. ShowHide Related Items >><<
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Hot Stocks
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CVS Health sees 2024 operating income hit of $800M-$1B due to 'star ratings' »
13:21 05/25/23 05/2513:21 05/25/2313:21
CVS
CVS Health
In a regulatory filing,… In a regulatory filing, CVS Health stated: "On April 4, 2022, the U.S. Centers for Medicare & Medicaid Services, or 'CMS,' issued its final notice detailing final 2023 Medicare Advantage payment rates. Final 2023 Medicare Advantage rates resulted in an expected average increase in revenue for the Medicare Advantage industry of 5.00%, excluding the CMS estimate of Medicare Advantage risk score trend. On February 1, 2023, CMS issued an advance notice detailing proposed 2024 Medicare Advantage payment rates. The 2024 Medicare Advantage rates, if finalized as proposed, will result in an expected average decrease in revenue for the Medicare Advantage industry of 2.27%, excluding the CMS estimate of Medicare Advantage risk score trend. CMS intends to publish the final 2024 rate announcement no later than April 3, 2023. The ACA ties a portion of each Medicare Advantage plan's reimbursement to the plan's 'star ratings.' Plans must have a star rating of four or higher out of five to qualify for bonus payments. CMS released the company's 2023 star ratings in October 2022. The company's 2023 star ratings will be used to determine which of the company's Medicare Advantage plans have ratings of four stars or higher and qualify for bonus payments in 2024. Based on the company's membership at December 31, 2022, 21% of the company's Medicare Advantage members were in plans with 2023 star ratings of at least 4.0 stars, compared to 87% of the company's Medicare Advantage members being in plans with 2022 star ratings of at least 4.0 stars based on the company's membership at December 31, 2021. The estimated impact from the decline in the number of Medicare Advantage members in plans with star ratings of at least 4.0 stars, net of mitigating actions, is a reduction of the 2024 operating income of the Health Care Benefits segment of approximately $800M to $1.0B." ShowHide Related Items >><<
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Recommendations
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CVS could use buybacks to offset earnings shortfalls, says Deutsche Bank »
09:03 05/25/23 05/2509:03 05/25/2309:03
CVS
CVS Health
CVS Health shares are… CVS Health shares are down 25% year-to-date, underperforming peers, as the company has invested $19B in its primary care delivery strategy, while at the same time seeing tougher COVID comparisons, increasing headwinds in 340B and concerns about pharmacy benefit managers, Deutsche Bank analyst George Hill the analyst tells investors in a research note. The firm believes CVS will use its "considerable cash flow" to offset challenges at the operating earnings line. It estimates the company could deploy over $3B per year in share repurchase to offset any operating earnings shortfalls in the near term. Deutsche also thinks CVS could announce a $1B cost reduction initiative to "attack" its $43B operating expense base as a way to drive earnings growth. The firm keeps a Hold rating on the shares with an $87 price target. ShowHide Related Items >><<
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Wednesday | ||||
Hot Stocks
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Centene names Shannon Susko chief communications officer »
07:09 05/24/23 05/2407:09 05/24/2307:09
CNC
Centene
Centene announced it has… Centene announced it has named Shannon Susko as its senior VP and chief communications officer. Susko will be responsible for Centene's communications function, leading the development and execution of all internal and external communications, overseeing corporate reputation and advancing communications strategy in support of the company's business objectives. ShowHide Related Items >><<
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Over a week ago | ||||
Hot Stocks
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Albertsons announces Tom Moriarty as general counsel »
09:08 05/19/23 05/1909:08 05/19/2309:08
ACI
Albertsons
CVS Health
Albertsons (ACI)… Albertsons (ACI) announced that Tom Moriarty will join the company as executive VP and general counsel effective June 5. Moriarty brings more than 30 years of executive leadership experience to Albertsons, including senior positions across legal, corporate strategy, policy and operations. He joins the company from CVS Health (CVS), where he spent more than 10 years serving in roles of increasing responsibility. ShowHide Related Items >><<
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On The Fly
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PBM 'regulatory noise' continues as FTC deepens inquiry into middlemen »
10:17 05/18/23 05/1810:17 05/18/2310:17
CVS
CVS Health
Humana
Cigna
As part of its ongoing… ShowHide Related Items >><<
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Options
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CVS Health call volume above normal and directionally bullish »
13:45 05/16/23 05/1613:45 05/16/2313:45
CVS
CVS Health
Bullish option flow… Bullish option flow detected in CVS Health with 18,756 calls trading, 1.3x expected, and implied vol increasing over 1 point to 23.92%. May-23 69 calls and May-23 65 puts are the most active options, with total volume in those strikes near 5,700 contracts. The Put/Call Ratio is 0.62. Earnings are expected on August 2nd. ShowHide Related Items >><<
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Conference/Events
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CVS Health participates in a conference call with JPMorgan »
13:45 05/11/23 05/1113:45 05/11/2313:45
CVS
CVS Health
Conference call with CVS… Conference call with CVS President & CEO Lynch will be held on May 11 at 2 pm hosted by JPMorgan. Webcast Link ShowHide Related Items >><<
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Conference/Events
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CVS Health participates in a conference call with JPMorgan »
12:02 05/11/23 05/1112:02 05/11/2312:02
CVS
CVS Health
Conference call with CVS… Conference call with CVS President & CEO Lynch will be held on May 11 at 2 pm hosted by JPMorgan. Webcast Link ShowHide Related Items >><<
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