CVS Health (CVS): Cutting Estimates On Pricing Concerns - Leerink

September 30, 2016 7:14 AM EDT
Get Alerts CVS Hot Sheet
Price: $83.20 -0.41%

Rating Summary:
    21 Buy, 8 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Leerink Partners analyst, David Larsen, reiterated his Outperform rating on shares of CVS Health (NYSE: CVS) but cut his price target to $105.00 from $110.00 on pricing concerns. The analyst recently spoke with a MEDACorp specialist who has decades of experience with PBM and Managed Care contracting, believes that pricing has slowed materially over the past 9 months.

As a result he reduced 2H:16 and 2017 revenue and EPS estimates for CVS Health. This information makes him incrementally more cautious on the PBMs, Distributors and Retailers,

For an analyst ratings summary and ratings history on CVS Health click here. For more ratings news on CVS Health click here.

Shares of CVS Health closed at $89.55 yesterday.

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