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MarketScreener Homepage  >  Equities  >  Nyse  >  CVS Health Corporation    CVS

CVS HEALTH CORPORATION

(CVS)
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Medical Distributors Stocks Fall After Opioid Data Reports

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07/17/2019 | 05:01pm EDT

By Gunjan Banerji

Shares of medical distributors and other health-care companies took a hit on Wednesday, and their pain may not be short-lived.

AmerisourceBergen Corp. fell 4%, while Cardinal Health Inc. shed 3.7%. McKesson Corp. lost about 3%. All three performed worse than the broader U.S. stock market on Wednesday.

Their declines come after news reports revealed new government data on information about opioid sales and distribution before 2013.

Wednesday's drop puts a pause on solid performance for the medical distributors so far this year.

AmerisourceBergen has gained 15% in 2019, while McKesson is up about 25%. Cardinal has edged higher about 1% this year.

Other pharmaceutical companies have also had a rough week. CVS Health Corp. and Walgreens Boots Alliance Inc. simultaneously fell on Wednesday.

Morgan Stanley downgraded pharmaceutical companies Teva Pharmaceutical Industries Ltd. and Endo International PLC to "underweight" earlier this week, saying that they are exposed to opioid litigation. Teva lost 6.3% on Wednesday while Endo fell about 5.2%. Shares of both have lost more than 50% this year.

"Opioid litigation is just getting started. There are thousands of lawsuits, and we see the potential for negative litigation developments over the next few years," wrote Morgan Stanley analysts in a note on Monday.

Write to Gunjan Banerji at Gunjan.Banerji@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AMERISOURCEBERGEN 0.47% 87.75 Delayed Quote.17.94%
CARDINAL HEALTH 0.67% 43.48 Delayed Quote.-2.51%
CVS HEALTH CORPORATION 1.84% 61.39 Delayed Quote.-6.30%
ENDO INTERNATIONAL PLC 12.83% 2.55 Delayed Quote.-69.04%
MCKESSON CORPORATION 0.46% 145.96 Delayed Quote.32.13%
TEVA PHARMACEUTICAL INDUSTRIES LIMITED 5.36% 2360 Delayed Quote.-61.81%
WALGREENS BOOTS ALLIANCE 2.27% 51.16 Delayed Quote.-25.13%
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Financials (USD)
Sales 2019 253 B
EBIT 2019 15 026 M
Net income 2019 6 593 M
Debt 2019 62 460 M
Yield 2019 3,24%
P/E ratio 2019 12,1x
P/E ratio 2020 10,7x
EV / Sales2019 0,56x
EV / Sales2020 0,53x
Capitalization 79 837 M
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Technical analysis trends CVS HEALTH CORPORATION
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 70,20  $
Last Close Price 61,39  $
Spread / Highest target 49,9%
Spread / Average Target 14,4%
Spread / Lowest Target -5,52%
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