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MarketScreener Homepage  >  Equities  >  Nyse  >  CVS Health Corporation    CVS

CVS HEALTH CORPORATION

(CVS)
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CVS Health : Beats Revenue Expectations, Raises Earnings Outlook

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11/06/2019 | 07:23am EST

By Patrick Thomas

CVS Health Corp. reported a stronger-than-expected adjusted profit in the third quarter and raised its outlook for earnings.

The company on Wednesday posted net income of $1.53 billion, or $1.17 a share, compared with $1.39 billion, or $1.36 a share, a year ago.

Excluding certain items, CVS posted an adjusted profit of $1.84 a share. Analysts polled by FactSet were expecting earnings of $1.25 a share, or $1.77 a share on an adjusted basis.

Shares of the company ticked up 3.2% during premarket trading.

Revenue rose to $64.81 billion from $47.49 billion a year earlier. Analysts had expected $63.01 billion in revenue for the quarter, according to FactSet

CVS said its pharmacy-services business, which offers pharmacy benefit services to employers, health plans and employee groups, recorded revenue of $36.02 billion in the quarter, up about 6% versus a year ago.

Its retail business, filling prescription medications and selling a range of merchandise, saw revenue increase 3% to $21.47 billion. Prescription volumes grew 6.4% from a year earlier.

The company's health-care benefits business, housing Aetna, reported revenue of $17.18 billion.

CVS also said it now expects to post an adjusted profit between $6.97 and $7.05 a share for the year, compared with its previous outlook of between $6.89 and $7 a share.

Write to Patrick Thomas at Patrick.Thomas@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CVS HEALTH CORPORATION -0.90% 73.59 Delayed Quote.12.32%
JOHNSON MATTHEY PLC 0.77% 2881 Delayed Quote.2.93%
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Financials (USD)
Sales 2019 254 B
EBIT 2019 15 044 M
Net income 2019 6 575 M
Debt 2019 62 782 M
Yield 2019 2,71%
P/E ratio 2019 14,7x
P/E ratio 2020 13,1x
EV / Sales2019 0,62x
EV / Sales2020 0,59x
Capitalization 95 738 M
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Technical analysis trends CVS HEALTH CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 80,81  $
Last Close Price 73,59  $
Spread / Highest target 25,0%
Spread / Average Target 9,81%
Spread / Lowest Target -17,1%
EPS Revisions
Managers
NameTitle
Larry J. Merlo President, CEO & Non-Independent Director
David Wyatt Dorman Chairman
Jonathan C. Roberts Chief Operating Officer & Executive Vice President
Eva C. Boratto Chief Financial Officer & Executive Vice President
Troyen A. Brennan Chief Medical Officer & Executive Vice President