Tue, Jun. 9, 10:55 AM
- CVS Health (CVS -0.1%) initiated with Outperform rating and $115 (16% upside) price target by Macquarie.
- Galapagos (GLPG -3%) initiated with Overweight rating and $73 (36% upside) price target by Morgan Stanley.
- LifePoint Health (LPNT) initiated with Conviction Buy rating and $92 (25% upside) price target by Goldman Sachs.
- BioMarin Pharmaceutical (BMRN -2.2%) initiated with Overweight rating and $150 (24% upside) price target by Barclays.
- Universal Health Services (UHS +0.2%) initiated with Neutral rating and $140 (10% upside) price target by Goldman Sachs.
- Amsurg (AMSG -0.5%) initiated with Buy rating and $81 (17% upside) price target by Goldman Sachs.
- Momenta Pharmaceuticals (MNTA -2.6%) initiated with Buy rating and $26 (18% upside) price target by Stifel Nicolaus.
- Actavis (ACT -0.6%) initiated with Outperform rating and $344 (16% upside) price target by Raymond James.
Thu, May 21, 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.
Wed, May 20, 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.
Wed, May 13, 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.
Fri, May 1, 8:59 AM
- 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.
Fri, May 1, 7:01 AM
Thu, Apr. 30, 5:30 PM
Thu, Apr. 30, 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)
Tue, Mar. 31, 8:46 AM| Tue, Mar. 31, 8:46 AM | 9 Comments
Wed, Mar. 4, 10:48 AM
Thu, Feb. 12, 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.
Wed, Feb. 11, 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.
Tue, Feb. 10, 7:18 AM
- CVS Caremark (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.
Tue, Feb. 10, 7:04 AM
Mon, Feb. 9, 5:30 PM
Thu, Feb. 5, 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.
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