CVS Health (CVS): Cutting Estimates On Pricing Concerns - Leerink
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall St. slips on earnings; Apple results due
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- Panera Bread (PNRA) Tops Q3 EPS by 3c; Raises Outlook
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
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,
Shares of CVS Health closed at $89.55 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Following 1Q Beat
- UBS Cuts Price Target on V.F. Corp. (VFC) to $59; Reiterates Buy
- Intersil (ISIL) PT Bumped to $22 at Stifel
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Hot List
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!