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May 21, 2015, 7:32 AM
- CVS Health (NYSE:CVS) confirms it will acquire Omnicare (NYSE:OCR) for $98 per share in a deal valued at $12.7B.
- The transaction is expected to close near the end of the year.
- The company sees the purchase adding $0.20 to EPS in 2016
- Previously: Bloomberg: CVS in advanced talks to buy Omnicare
- OCR +1.39% premarket to $95.95.
- CVS +1.77% premarket to $103.06.
May 20, 2015, 6:15 PM
- CVS is in advanced talks to buy nursing home pharmacy owner Omnicare (NYSE:OCR) and could reach a deal as soon as this week, sources tell Bloomberg.
- Omnicare hired advisors to find a buyer earlier this year. In April, Bloomberg reported CVS was one of several interested parties.
- OCR +5.7% AH to $100.00. CVS +0.5% to $101.80.
May 13, 2015, 12:22 PM
- CVS Health (CVS -0.5%) settles the case brought by the U.S. Attorney's Office for the Middle District of Florida and the U.S. Drug Enforcement Administration (DEA) concerning allegations related to the over-dispensing of oxycodone by two CVS stores in Sanford, Florida. The company agreed to pay $22M to resolve the matter.
- In 2012, the DEA banned the two pharmacies from selling controlled drugs calling them an "imminent danger" to the public. The average pharmacy in the U.S. ordered ~69K oxycodone pills from wholesalers in 2011. The two pharmacies in question, located about five miles apart, ordered more than 3M.
May 1, 2015, 8:59 AM
- CVS Health (NYSE:CVS) Q1 results ($M): Total Revenues: 36,332 (+11.1%); Net Income: 1,221 (+8.1%); GAAP EPS: 1.07 (+12.6%); Non-GAAP EPS: 1.14 (+11.8%); Quick Assets: 1,634 (-35.0%); CF Ops: 1,984 (-8.7%);
- Retail Pharmacy revenue up 2.9% to $16.95B.
- Retail Pharmacy same-store sales up 1.2%.
- Retail Pharmacy same-store prescription volumes up 5.1%.
- Generic dispensing rate: Pharmacy services: 83.5% (+150 bps); Retail Pharmacy: 84.4% (+150 bps).
- Gross margin rate down 121 bps to 16.97%.
- Operating margin rate down 32 bps to 5.87%.
- FY2015 Guidance: GAAP EPS: $4.80 to $4.91; Non-GAAP EPS: $5.08 to $5.19; CF Ops: $7.6B to $7.9B.
- Q2 Guidance: GAAP EPS: $1.10 to $1.13; Non-GAAP EPS: $1.17 to $1.20.
- Shares up 2% premarket on light volume.
May 1, 2015, 7:01 AM
- CVS Health (NYSE:CVS): Q1 EPS of $1.14 beats by $0.06.
- Revenue of $36.33B (+11.1% Y/Y) beats by $400M.
Apr. 30, 2015, 5:30 PM
Apr. 30, 2015, 4:08 PM
- According to Bloomberg, the list of firms that have indicated an interest in Omnicare (NYSE:OCR) include Express Scripts (NASDAQ:ESRX), CVS Health (NYSE:CVS), Walgreens Boots Alliance (NASDAQ:WBA) and McKesson (NYSE:MCK). Initial bids for the $8.5B market cap firm are due in May.
- Previously: Omnicare reportedly exploring sale; trading halted (April 22)
- Previously: Omnicare buyer would need to pay $95/share - UBS (April 23)
Mar. 31, 2015, 8:46 AM
- CVS Health (NYSE:CVS) announces new affiliations with medical centers in Illinois and Arizona.
- The company signed a clinical deal with Rush University Medical Center in Chicago and Tucson Medical Center in Tucson.
- CVS says it now has more than 50 major health systems and providers in its system.
Mar. 4, 2015, 10:48 AM
- CVS Health (NYSE:CVS) declares $0.35/share quarterly dividend, in line with previous.
- Forward yield 1.36%
- Payable May 4; for shareholders of record April 24; ex-div April 22.
Feb. 12, 2015, 9:43 AM
- The read on retail sales in the U.S. isn't nearly as bad as the headline -0.8% M/M drop for January.
- Retail sales were up 3.3% compared to a year ago with a few sectors showing strong growth.
- Restaurant sales +11.3% Y/Y: The strong read follows up on a positive report from Black Box Intelligence on the sector. CAKE, CBRL, CMG, DPZ, DRI, EAT, JACK, PNRA, RRGB, RT, SBUX, SONC, WEN, BWLD, BDL, NATH, LUB, CHUY, BLMN, PZZA, TXRH, DENN, KKD, BBRG, DFRG, BOBE, RUTH, IRG, DIN, HABT, NDLS, PLKI, LOCO, YUM, KKD, TAST, GTIM, FRSH, COSI, FRS, PBPB, FRGI, QSR, CBRL, BLMN, ZOES.
- Sporting goods +8.0% Y/Y: DKS, BGFV, CAB, HIBB, SPWH.
- Building material and garden +6.9% Y/Y: A favorable weather compare came to the aid of this category. HD, LOW, LL.
- Health and personal care +6.6% Y/Y: Online channels have contributed for companies selling beauty and health items. ULTA, SBH, CVS, WBA, RAD.
Feb. 11, 2015, 9:30 AM
- Investment firms are resetting expectations on CVS Health (NYSE:CVS) after taking in the drugstore chain's Q4 report.
- Argus raises its price target on CVS to $114 from $104.
- RBC Capital increases its PT to $115 from $108.
- Mizuho is also erasing its PT, moving it to $113 from $103.
- Previously: Margins improve at CVS Health in Q4 (Feb. 10 2015)
- CVS -0.2% premarket to $101.45.
Feb. 10, 2015, 7:18 AM
- CVS Health (NYSE:CVS) reports revenue in its pharmacy segment rose 21.7% to $23.9B in Q4 with acquisition playing a factor.
- Pharmacy network claims processed rose 8.2% to 221.6M during the period.
- Retail pharmacy sales +2.9% to $17.7B.
- Retail comparable-store sales +1.6% with the front end store comp dragged down by the tobacco exit.
- Gross profit rate +70 bps to 31.4%.
- Operating profit rate +40 bps to 10.1%.
- CVS +1.85% premarket.
Feb. 10, 2015, 7:04 AM
- CVS Health (NYSE:CVS): Q4 EPS of $1.21 beats by $0.01.
- Revenue of $37.06B (+12.9% Y/Y) beats by $980M.
Feb. 9, 2015, 5:30 PM
Feb. 5, 2015, 1:36 PM
- CVS Health (CVS -0.3%) says its pharmacists have counseled over 67K patients about their smoking habits since pulling out of the category last September.
- Prescriptions for smoke cessation products are up 63% during the period.
- Sales of nicotine replacement therapy products are up 21%.
- Shares of CVS are up 22% since the company's tobacco exit.
Jan. 28, 2015, 8:40 AM
- CVS Health (NYSE:CVS) announces new affiliations with regional health care systems in Kansas and Louisiana.
- The agreements will increase the scope of medical services provided at CVS stores in the two states.
- Front-end comps at CVS are still impacted by the full tobacco exit, but are seeing a benefit from the influx of new healthcare customers.
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