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News Breaks
June 18, 2014
10:08 EDTCVSCVS Caremark sees 2014 share repurchases of $4B
CVS says that it is "well-positioned" for growth in a changing health care landscape. Says increased Medicaid enrollment will fuel its leading position in managed Medicaid. Sees 43M people enrolled in Medicaid enrollment by 2016. Says "well-positioned" to gain share in exchanges across the enterprise. Says overall growth in exchanges will be a net positive. Says focused on enhancing shareholder value through driving long-term growth, generating "significant" free cash flow and optimizing capital allocation. In terms of CAGR from FY13-FY18, CVS sees net revenue 9%-13%, sees operating profit 7%-9%, sees final adjusted EPS 10%-14%, sees share repurchase contribution 4%-6% and average annual cash available for enhancing shareholder value $7.5B-$8.5B. When discussing efficient cash deployment from FY14 through FY18, CVS says it will have $40B in cash available for enhancing shareholder value. Expects a target payout ratio for dividends during that time to be 35% by FY18 with 18% implied dividend CAGR. Expects a return on invested capital and says that it will drive ROIC with value-enhancing projects. Sees $4B-$5B of share repurchases per year through 2018. Comments taken from slides from CVS Caremark's presentation at the Wells Fargo Healthcare conference.
News For CVS From The Last 14 Days
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October 21, 2014
08:03 EDTCVSCVS offering drug plan with higher co-pay at stores selling tobacco, WSJ says
CVS Health (CVS), which stopped selling tobacco products last month, is now offering a prescription-drug plan via its pharmacy benefits unit Caremark that charges patients copayments that are up to $15 higher on prescriptions filled where tobacco is sold, which includes at rival pharmacies operated by Walgreen (WAG) and Rite-Aid (RAD), reported The Wall Street Journal. Reference Link
October 13, 2014
07:39 EDTCVSPharmaceutical Care Management Association to hold annual meeting
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