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Is CVS Set to Wow Investors With Q4

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CVS Health Opens 39 New Drive-Thru Test Sites in Virginia as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 22 New Drive-Thru Test Sites in Missouri as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 34 New Drive-Thru Test Sites in Ohio as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 23 Additional New Drive-Thru Test Sites in Georgia PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 16 New Drive-Thru Test Sites in Michigan as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 4 New Drive-Thru Test Sites in Maine as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 10 New Drive-Thru Test Sites in Minnesota as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 9 Additional New Drive-Thru Test Sites in Arizona PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 5 Additional New Drive-Thru Test Sites in Massachusetts PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 42 Additional New Drive-Thru Test Sites in Texas PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 29 Additional New Drive-Thru Test Sites in Pennsylvania PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 30 Additional New Drive-Thru Test Sites in Florida PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 55 New Drive-Thru Test Sites in North Carolina as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 15 Additional New Drive-Thru Test Sites in Louisiana PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 45 Additional New Drive-Thru Test Sites in New Jersey PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 24 Additional New Drive-Thru Test Sites in Illinois PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 15 New Drive-Thru Test Sites in South Carolina as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 13 Additional New Drive-Thru Test Sites in Maryland PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 10 New Drive-Thru Test Sites in Rhode Island as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 7 New Drive-Thru Test Sites in Kentucky as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Opens 11 New Drive-Thru Test Sites in Oklahoma as Part of Nationwide COVID-19 Response PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 36 Additional New Drive-Thru Test Sites in New York PR Newswire (US) - 5/28/2020 8:00:00 AM
CVS Health Expands Statewide COVID-19 Response By Opening 91 Additional New Drive-Thru Test Sites in California PR Newswire (US) - 5/28/2020 8:00:00 AM
DiscoverGold   Tuesday, 02/11/20 02:47:46 PM
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Is CVS Set to Wow Investors With Q4 Earnings Wednesday Morning?
By: 24/7 Wall St. | February 11, 2020

CVS Health Corp. (NYSE: CVS) is set to report its fourth-quarter financial results before the markets open on Wednesday. The drugstore, pharmacy benefits manager and health insurer has faced strong headwinds since last year’s acquisition of health insurer Aetna for nearly $70 billion, but this earnings report could be the turning point.

The consensus estimates are calling for $1.68 in earnings per share (EPS) and $63.97 billion in revenue. The same period of last year reportedly had $2.14 in EPS and $54.42 billion in revenue.

A nod in CVS’s direction by activist investment firm Starboard Value in November could underscore some more potential value to be unlocked. Granted, Starboard was picking up CVS after some recovery in the wake of its 30% drop from the Aetna acquisition.

Starboard’s exact stake in CVS is unreported, but it is believed to be relatively small. The Wall Street Journal also reported at that time that Starboard has held discussions with CVS described as “amicable.”

Analysts have been concerned by the long-term care liabilities that CVS took on with its Aetna acquisition. Rising costs in CVS’s Omnicare long-term care pharmacy business also had kept analysts from lifting their outlooks on the stock, but analysts are mostly positive on the stock now.

What could Starboard be discussing with CVS? One possibility is the CVS plan to build out MinuteClinic walk-in medical clinics at more of its 9,900 locations. The clinics already operate at about 1,100 CVS stores. CVS reports MinuteClinic results in the same bucket in which it reports its long-term pharmacy care business and its online and onsite pharmacies. A little more transparency about where exactly the revenues and profits are coming from would be welcome.

Overall, CVS stock has underperformed the broad markets with a gain of about 13% in the past 52 weeks. In the past quarter alone, the share price is only up 2%.

Here’s what analysts said ahead of the report:

• JPMorgan has an Overweight rating and a $97 price target.
• Raymond James has a Buy rating with a $90 price target.
• Mizuho’s Buy rating comes with an $82 price target.
• UBS Group has a Buy rating with a $78 target price.
• SunTrust Banks has a Buy rating and an $85 price target.
• Citigroup’s Buy rating comes with an $83 price target.

Shares of CVS traded at $73.58 on Tuesday, in a 52-week range of $51.72 to $77.03. The consensus price target is $81.71.

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