Last $79.43 USD
Change Today 0.00 / 0.00%
Volume 1.8M
CVS On Other Exchanges
Symbol
Exchange
New York
Mexico
Frankfurt
As of 8:04 PM 08/28/14 All times are local (Market data is delayed by at least 15 minutes).

cvs caremark corp (CVS) Key Developments

CVS Caremark Enters into New Clinical Affiliation with MedStar Health

CVS Caremark announced it has entered into a new clinical affiliation with MedStar Health, which will enhance access to high-quality, affordable health care services for patients. Through this clinical affiliation, MedStar Health patients will continue to have access to clinical support, medication counseling, chronic disease monitoring and wellness programs at CVS/pharmacy stores and MinuteClinic. In addition, CVS Caremark will provide critical prescription and visit information to the affiliated health care providers through the integration of secured electronic medical record (EMR) systems. The participating health care providers will receive data on interventions conducted by CVS pharmacists to improve medication adherence for their patients. The affiliation also encourages collaboration between the health care providers and MinuteClinic providers to improve coordination of care for patients seen at MinuteClinic locations. Affiliated physicians will collaborate with MinuteClinic nurse practitioners to work closely on joint clinical programs and care coordination activities. If more comprehensive care is needed, patients can follow up with their primary care provider and have access to the services at the health care provider as appropriate. For those patients who do not have regular access to health care, MinuteClinic provides assistance in finding a primary care physician and a greater opportunity for continuity of health care services. MinuteClinic, CVS/pharmacy and MedStar Health will begin to work toward integrating EMR systems to streamline communication around all aspects of each individual patient's care. This integration will include the electronic sharing of messages and alerts from CVS/pharmacy to MedStar Health physicians regarding potential medication non-adherence issues. In addition, MinuteClinic will electronically share medical histories and visit summaries with the patient's primary care provider at MedStar Health. MinuteClinic will also continue its standard practice of sending patient visit summaries to primary care providers who are not affiliated with a participating health care provider via fax or mail, typically within 24 hours, with patient consent. The new clinical affiliation announced here brings the total number of health system and health care provider affiliations for CVS Caremark and MinuteClinic to 41 major health systems and health care providers across the country. This new affiliation includes clinical collaborations with MinuteClinic combined with data on interventions performed by CVS pharmacists.

CVS Caremark Opens MinuteClinic Walk-In Medical Clinics in Sacramento Area

CVS Caremark Corporation announced the opening of MinuteClinic walk-in medical clinics in the Sacramento metropolitan area inside select CVS/pharmacy stores in Sacramento and Elk Grove. A third clinic is slated to open in Fair Oaks in October. With the openings, there are now more than 50 MinuteClinic locations in the Golden State in the San Diego, Los Angeles, Orange County/Inland Empire and Bay Area markets.

CVS Caremark Corporation Announces Early Results of Tender Offers, Pricing, Election of Early Settlement and Increase in the Maximum Tender Offer Amount

CVS Caremark Corporation announced the early tender results, applicable Reference Yields and consideration payable in connection with its previously announced cash tender offers commenced on August 7, 2014 for any and all of its 6.250% Senior Notes due 2027 and up to a maximum amount of its 6.125% Senior Notes due 2039, 5.750% Senior Notes due 2041 and 5.750% Senior Notes due 2017. In addition, CVS Caremark has amended the terms of the Tender Offers to increase the Maximum Tender Offer Amount such that the maximum aggregate principal amount of the Maximum Tender Offer Notes tendered and accepted for purchase will be equal to $2,000,000,000 less the aggregate principal amount of the Any and All Notes tendered and accepted for purchase. Other than the increase to the Maximum Tender Offer Amount, all other terms and conditions of the Tender Offers, as previously announced, remain unchanged. The Tender Offers are being made solely pursuant to CVS Caremark's Offer to Purchase dated August 7, 2014, as amended or supplemented. As of the previously announced early tender date and time of 5:00 p.m., New York City time, on August 20, 2014, the principal amounts of the Notes listed in the table below had been validly tendered and not validly withdrawn. Acceptance of tendered Notes may be subject to priority and proration as described in the Offer to Purchase. Following the expiration date, any validly tendered Notes that are not purchased pursuant to a Tender Offer will be promptly returned to the tendering Holders. Definitive tender offer results will not be available until after the Tender Offers expire at 11:59 p.m., New York City time, on September 4, 2014. Holders of Notes validly tendered and not withdrawn at or prior to the Early Tender Date and accepted for purchase will be eligible to receive the applicable Total Consideration listed in the table above, which includes the applicable Early Tender Payment. Holders of Notes validly tendered and not withdrawn after the Early Tender Date but at or prior to the Expiration Date and accepted for purchase will be eligible to receive the applicable Tender Offer Consideration, namely the applicable Total Consideration minus the applicable Early Tender Payment. In addition to the Total Consideration or Tender Offer Consideration, as applicable, Holders of Notes accepted for purchase will receive Accrued Interest on those Notes from the last interest payment date with respect to those Notes to, but not including, the applicable Settlement Date.

CNS Caremark Corporation Commences Cash Tender Offers for Any and All of its 6.250% Senior Notes Due 2027 and Up to A Maximum Amount of its 6.125% Senior Notes Due 2039, 5.750% Senior Notes Due 2041 and 5.750% Senior Notes Due 2017

CVS Caremark Corporation has commenced cash tender offers for any and all of its 6.250% Senior Notes due 2027 and up to a maximum amount of its 6.125% Senior Notes due 2039, 5.750% Senior Notes due 2041 and 5.750% Senior Notes due 2017 such that the aggregate principal amount of the Maximum Tender Offer Notes tendered and accepted for purchase is equal to $1,500,000,000 less the aggregate principal amount of the Any and All Notes tendered and accepted for purchase. The purpose of the Tender Offers is to refinance a portion of CVS Caremark's outstanding indebtedness. Notes validly tendered and not withdrawn at or prior to 5:00 p.m., New York City time, on August 20, 2014 will be eligible to receive the applicable Total Consideration, which includes the applicable Early Tender Payment. CVS Caremark will make a cash payment to each holder of the Notes of the applicable Total Consideration based on the yield to maturity of the U.S. Treasury reference securities specified in the table below plus a fixed spread, for the Notes validly tendered on or prior to the Early Tender Date, and accepted for purchase, each as more fully described in the Offer to Purchase dated August 7, 2014 and related Letter of Transmittal dated August 7, 2014. Notes validly tendered after the Early Tender Date but at or prior to 11:59 p.m., New York City time, on September 4, 2014 will be eligible to receive the applicable tender offer consideration, namely the applicable Total Consideration minus the applicable Early Tender Payment. Holders who tender their Notes at or prior to 5:00 p.m., New York City time, on August 20, 2014 may withdraw such tendered Notes at any time at or prior to the Withdrawal Deadline. Following the Withdrawal Deadline, holders who have tendered their Notes may not withdraw such Notes unless CVS Caremark is required to extend withdrawal rights under applicable law. Acceptance of tendered Notes may be subject to priority and proration as in the Offer to Purchase. CVS Caremark reserves the right, but is not obligated, to increase the Maximum Tender Offer Amount without extending withdrawal rights, subject to compliance with applicable law. In addition to the Total Consideration or Tender Offer Consideration, as applicable, Holders of Notes accepted for purchase will receive accrued and unpaid interest on those Notes from the last interest payment date with respect to those Notes to, but not including, the Early Settlement Date or the Final Settlement Date, as applicable.

CVS Caremark Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter Ending September 30, 2014; Revises Earnings Guidance for the Year Ending December 31, 2014; Plans to Open New clinics

CVS Caremark Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net revenues of $34,602 million against $31,248 million a year ago. Operating profit was $2,208 million against $1,972 million a year ago. Income before income tax provision was $2,050 million against $1,846 million a year ago. Income from continuing operations was $1,246 million or $1.06 per diluted share against $1,125 million or $0.91 per diluted share a year ago. Adjusted net income was $1,327 million or $1.13 per share compared to $1,200 million or $0.97 per share a year ago. Adjusted income before income tax provision was $2,183 million against $1,970 million a year ago. Strong performance in the quarter was driven by net new business, specialty pharmacy growth, drug inflation and product mix. For the six months, the company reported net revenues of $67,291 million against $61,999 million a year ago. Operating profit was $4,232 million against $3,666 million a year ago. Income before income tax provision was $3,916 million against $3,414 million a year ago. Income from continuing operations was $2,375 million or $2.01 per diluted share against $2,079 million or $1.68 per diluted share a year ago. Net income attributable to company was $2,077 million or $1.68 per diluted share against $1,742 million or $1.34 per diluted share a year ago. Adjusted income before income tax provision was $4,180 million against $3,660 million a year ago. Adjusted net income was $1,182 million or $2.15 per share compared to $1,238 million or $1.80 per share a year ago. Net cash provided by operating activities was $3,069 million against $2,542 million a year ago. Purchases of property and equipment were $891 million against $804 million a year ago. Free cash flow was $2,183 million compared to $1,738 million a year ago. The company provided earnings guidance for the third quarter ending September 30, 2014. For the period, the company expects income before income tax provision to be in range of $2,007 million to $2,064 million, adjusted income before income tax provision expects to be in range of $2,132 million to $2,191 million, adjusted income from continuing operations expects to be in range of $1,291 million to $1,328 million. The company expects to deliver Adjusted EPS of $1.11 to $1.14 and GAAP diluted EPS from continuing operations of $1.04 to $1.07. The company raised and narrowed its earnings guidance range for the full year 2014. The company expects income before income tax provision to be in range of $8,041 million to $8,178 million, adjusted income before income tax provision expects to be in range of $8,559 million to $8,698 million. Adjusted income from continuing operations expects to be in range of $5,188 million to $5,276 million. Net cash provided by operating activities expects to be in range of $7,150 million to $7,450 million, free cash flow expects to be in range of $5,450 million to $5,750 million. Adjusted EPS are expected to be in the range of $4.43 to $4.51, up from $4.36 to $4.50. Additions to property and equipment expects to be in the range of $2,300 million to $2,200 million. GAAP diluted EPS from continuing operations range raised and narrowed to $4.16 to $4.24, up from $4.09 to $4.23. The company now expect consolidated net revenue growth to be in the range of 8% to 9%, raising the midpoint by approximately 260 basis points over prior guidance. The company now expect tax rate to be approximately 39.4%. The company expects capital expenditures to be slightly higher than originally planned. The company plans to open at least 150 new clinics in the year 2014. The company expected to achieve square footage growth of 2% to 3% in the year 2014.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
CVS:US $79.43 USD 0.00

CVS Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Costco Wholesale Corp $120.97 USD -0.27
Express Scripts Holding Co $73.82 USD -0.90
Tesco PLC 246.30 GBp -3.00
Home Depot Inc/The $92.51 USD +0.64
UnitedHealth Group Inc $86.34 USD -0.04
View Industry Companies
 

Industry Analysis

CVS

Industry Average

Valuation CVS Industry Range
Price/Earnings 19.4x
Price/Sales 0.7x
Price/Book 2.4x
Price/Cash Flow 18.8x
TEV/Sales 0.6x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact CVS CAREMARK CORP, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.