CVS Health Corporation (CVS)

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CVS The healthcare industry is expected to grow significantly, thanks to substantial demand driven by increasing …
By: Stock News | July 29, 2022

• CVS Health Corporation (CVS)

CVS provides health services in the United States. The company operates through four segments: Pharmacy Services; Retail/LTC; Health Care Benefits; and Corporate/Other. CVS offers prescription drugs, traditional and consumer-directed health insurance products, pharmacy benefit management solutions, and consumer health and beauty products.

The company operates over 9,900 retail locations, 1,200 MinuteClinic locations, online pharmacy websites, and onsite pharmacies.

In February, CVS Pharmacy, the retail division of CVS, launched six new innovative home health care products. The new CVS Health by Michael Graves Design features a wide range of products, including comfort grip chairs, easy-fold travel walkers, convertible shower chairs, and 3-in-1 comfort commodes.

The new launch of products is the company’s extension of the exclusive CVS Health product line, extending its customer reach and boosting sales.

In the fiscal 2022 first quarter ended March 31, 2022, CVS’ total revenues increased 11.2% year-over-year to $76.83 billion. Its adjusted operating income grew 6.6% year-over-year to $4.48 billion. The company’s adjusted income attributable to CVS and adjusted earnings per share came in at $2.94 billion and $2.22, up 9.1% and 8.8% from the prior-year period, respectively.

In addition, net cash provided by operating activities rose 23.2% year-over-year to $3.56 billion.

Analysts expect CVS’ EPS to grow 2.8% from the prior-year period to $2.02 for the fiscal 2022 third quarter ending September 2022. The $77.14 billion consensus revenue estimate for the ongoing quarter represents a 4.5% rise year-over-year. The company has surpassed the consensus EPS and revenue estimates in each of the trailing four quarters.

The stock has gained 14.7% over the past year to close the last trading session at $95.53.

CVS’ POWR Ratings reflect this promising outlook. It has an overall grade of A, equating to Strong Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.

CVS has a grade of B for Value, Stability, and Sentiment. Within the Medical – Drug Stores industry, it is ranked #1 of 5 stocks. Click here to see additional POWR Ratings (Momentum, Quality, and Growth) for CVS.

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