Health Care

CVS sees revenue jump 35% in Q1, credits Aetna integration, healthcare sales

CVS sees revenue jump 35% in Q1, credits Aetna integration, healthcare sales”

CVS Health Corp. came out of the gate running in its first quarter with profit, revenue and same-store sales that beat expectations, and lifted its full-year outlook.

As for CVS' full year-guidance, the Company raised its adjusted earnings from between USD 6.68 to USD 6.88 to the range between USD 6.75 to USD 6.90 per share.

Net income also rose 43% to $1.4 billion from a year ago.

Overall, revenues for CVS increased 34.8% to $61.6 billion in the first quarter, operating income increased 34.8% to $2.7 billion, and adjusted operating income increased 56.8% to $3.6 billion.

Driven by major membership growth due to its addition of Aetna, CVS said its healthcare benefits segment increased revenues by $16.6 billion during the three-month period, to $17.8 billion.

Following the closure of CVS' acquisition of Aetna, the combined Company was able to report stronger financials for the quarter. CIBC restated a "market perform" rating on shares of CVS Health in a research report on Monday, April 15th. The main reasons behind this lower growth rate were a much larger income tax hit in the first quarter of 2019 versus the prior-year period, and a significant net interest expense related to financing the Aetna transaction recorded in the first quarter of 2018.

Revenue at CVS Health's pharmacy benefit management division went up 3.1% year-on-year to $33.56 billion during the latest quarter, as prices of brand name drugs rose. "In the quarter we continued to advance our integration efforts while beginning to launch new innovations such as our HealthHub concept stores".

In announcing the first quarter financial results, Menlo said, "We generated strong first quarter results, providing positive momentum to start the year".

Merlo did step lightly into the discussion on potential policy changes to the US healthcare system.

Looking ahead at Q2, CVS see adjusted earnings per share of $1.68 to $1.72, topping the $1.68 that was expected. "We remain relentlessly focused on creating value for clients and customers while driving both near and longer-term returns for our shareholders". That's right - they think these 10 stocks are even better buys. The company narrowed the range for 2019 GAAP EPS to between $4.90 and $5.05 from a range of $4.88 to $5.08. Several studies suggest that positive earnings surprises not only lead to an immediate hike in a stock's price, but also to a gradual increase over time. The company has a market capitalization of $69.50 billion, a PE ratio of 8.10, a PEG ratio of 1.05 and a beta of 0.94.

Like this



04 May 2019
Van de Beek's 60-million-euro value suits Real Madrid
Pogba is also believed to be keen to leave Manchester United and join the Spanish giants ahead of the start of next season. At the end of the season, we will see what happens.

04 May 2019
Longshot Haikal scratched from Kentucky Derby
Churchill Downs' decision to boost the prize pool coincides with record betting totals for the race in recent years. With the scratch, the rail will remain empty and Derby horses will break from posts 2 through 20.

04 May 2019
Diet soda doesn’t help kids cut calories
But because the diet counterpart doesn't have any calories, they need to get those 139 calories, for example, from somewhere else. Nearly a third of children in the USA are overweight, as well as around 30 per cent of 11-year-olds in the UK.

04 May 2019
Thai King Pays Homage to Ancestors Ahead of Coronation
Thailand's King Maha Vajiralongkorn left, and Queen Suthida make the religious ceremony at Grand Palace in Bangkok , Thailand. Uttering his first, brief royal command he vowed to reign "with righteousness" for the benefit of the Thai people.

04 May 2019
Milkshakes at the ready: Tommy Robinson on his way to Milton Keynes
Someone posted the clip on Twitter with the caption: "Stephen Yaxley-Lennon gets a milkshake thrown over him in Warrington". Danyal, 23, told the Mirror he had complained to police that Robinson had made several attempts to engage with him.

04 May 2019
North Korea slams 'foolish and dangerous' Pompeo - Integration Through Media ....!
Earlier this month the North also called for Pompeo's replacement with a "more careful and mature" negotiator. "We cannot break the shell of mutual distrust between Japan and North Korea unless I directly face Kim".

04 May 2019
Chewbacca tribute: Euronews pays respects to Star Wars actor Peter Mayhew
He was the closest any human being could be to a Wookiee: big heart, gentle nature.and I learned to always let him win. The post also discusses the last time Mayhew played Chewbacca, in J.J.

04 May 2019
Enes Kanter responds to 'hurtful' taunt from Nuggets fan
Kanter received an apology from the National Basketball Association , and a personal apology from commissioner Adam Silver. Denver was able to take Game 1 121-113, but Rodney Hood was back and ready to go in Game 2 off the bench for Portland.

04 May 2019
FCC warns of increase in ‘One Ring’ phone scams
The Federal Communications Commission reports waves of "One Ring" or "Wangiri" scam robocalls targeting specific areas in bursts. You can recognize them by their country codes - Mauritania's is 222, Lithuania's is 370, others use 32, and so on.

04 May 2019
WATCH India’s most powerful CYCLONE in two decades batter its coast
Disaster officials said about 1.2 million people were evacuated from low-lying areas of Odisha and moved to almost 4,000 shelters. The navy and the coast guard are on high alert and ships and helicopters are on standby for rescue and relief operations.