Sees FY19 revenue $2.39B-$2.43B, consensus $2.42B.
Wednesday, May 1, 2019
CVS Health raises FY19 adjusted EPS view to $6.75-$6.90 from $6.68-$6.88
Consensus $6.77. Confirms cash flow from operations guidance range of $9.8B-$10.3B
CVS Health reports Q1 Retail/LTC revenues up 3.3%
Retail/LTC segment revenues increased 3.3% for the three months ended March 31, 2019 compared to the prior year. The increase was primarily driven by increased prescription volume and brand name drug price inflation, partially offset by continued reimbursement pressure and the impact of generic drug introductions. Front store revenues represent approximately 22.7% of total Retail/LTC segment revenues. Front store revenues increased in the three months ended March 31, 2019 compared to the prior year primarily driven by increases in health product sales. Total prescription volume grew 5.5%, on a 30-day equivalent basis, for the three months ended March 31, 2019 compared to the prior year. The growth was driven mainly by the continued adoption of patient care programs, collaborations with PBMs and the company’s preferred status in a number of Medicare Part D networks.
CryoLife price target raised to $35 from $32 at Canaccord
Canaccord analyst Jason Mills raised his price target for CryoLife to $35 from $32 and maintained a Buy rating following the company’s “solid” Q1 results, telling investors that he sees a positive setup — for the firm and stock — going into an important, “transformative” period for CryLife, beginning in the second half of the year and continuing over the next few years. CryLife’s product pipeline positions the firm to deliver accelerating top-line growth, margin expansion and increasing profitability over the next 2-3 years that could potentially exceed management’s target of 7-9% top-line growth per year and 500bps of margin expansion over the next five years, Mills contends.
Iqvia reaffirms FY19 adjusted EPS view $6.20-$6.40, consensus $6.34
Backs revenue view $10.9B-$11.125B, consensus $11.02B. Backs adjusted EBITDA view $2.375B-$2.425B.
Exact Sciences price target raised to $130 from $110 at BTIG
BTIG analyst Sean Lavin raised his price target on Exact Sciences to $130 and kept his Buy rating after its Q1 revenue beat and a raise in FY19 outlook. The analyst notes that with nearly all metrics outperforming in the quarter, he sees “little risk to the current momentum”, and believes that the management’s marketing / salesforce ramps should continue to be productive and lead to beats throughout the year.
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