CVS Health: Show-Me Story Is Dead For The Near Term [Seeking Alpha]
CVS Health Corporation (CVS)
Last cvs health corporation earnings: 2/12 06:45 am
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US:NYSE Investor Relations:
investors.cvshealth.com
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Source: Seeking Alpha
Being the first quarterly EPS miss in years and at that scope (~22% below consensus), I also cast significant doubt on management's communication to capital markets and investors. 580bps YoY surge in MLR cut insurance margins to ~2.3%, down 470bps YoY and depressing corporate-level margins to 3.3% (-180bps YoY). With peers reporting a quarterly drop in MLR and providing positive full year guidance, I see weak profitability turning from an industry problem to a CVS specific one. I cut my price target by 29% to $65/sh and move shares to Underweight on lower estimates and a downward adjusted target multiple to represent MLR challenges and higher debt. Yesterday, May 1st CVS Health ( NYSE: CVS ) reported its earnings for Q1 of 2024, largely meeting revenue estimates but significantly missing (~22%) on EPS due to severe profitability challenges in its insurance division amid a further growing Medical Loss Ratio ("MLR"). Since my Recommended For You Recommended For You About
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CVS
News
- High drug prices and pharmacy deserts: Protesters blame drug middlemen, demand regulation [USA TODAY]USA TODAY
- IMPORTANT SHAREHOLDER INVESTIGATION: The Schall Law Firm Announces it is Investigating Claims Against CVS Health Corporation and Encourages Investors to Contact the FirmAccesswire
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of CVS Health Corporation - CVSPR Newswire
- SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against CVS Health Corporation and Encourages Investors to Contact the FirmAccesswire
- Healthcare Stocks: Testing The Vital Signs Of Managed Care Providers [Seeking Alpha]Seeking Alpha
CVS
Earnings
- 5/1/24 - Miss
CVS
Sec Filings
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- CVS's page on the SEC website