Last $79.39 USD
Change Today -0.14 / -0.18%
Volume 262.8K
As of 10:26 AM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

cvs caremark corp (CVS) Snapshot

Open
$79.44
Previous Close
$79.15
Day High
$79.53
Day Low
$79.19
52 Week High
08/19/14 - $79.54
52 Week Low
10/4/13 - $56.32
Market Cap
91.9B
Average Volume 10 Days
4.1M
EPS TTM
$4.06
Shares Outstanding
1.2B
EX-Date
07/17/14
P/E TM
19.6x
Dividend
$1.10
Dividend Yield
1.32%
Current Stock Chart for CVS CAREMARK CORP (CVS)

cvs caremark corp (CVS) Details

CVS Caremark Corporation, together with its subsidiaries, provides integrated pharmacy health care services in the United States. The company operates through Pharmacy Services and Retail Pharmacy segments. The Pharmacy Services segment offers pharmacy benefit management services, such as plan design and administration, formulary management, discounted drug purchase arrangements, Medicare Part D services, mail order and specialty pharmacy services, retail pharmacy network management services, prescription management systems, clinical services, disease management, and medical spend management services. It serves employers, insurance companies, unions, government employee groups, managed care organizations and other sponsors of health benefit plans, and individuals under the CVS Caremark Pharmacy Services, Caremark, CVS Caremark, CarePlus CVS/pharmacy, RxAmerica, Accordant, SilverScript, and Novologix names. The Retail Pharmacy segment sells prescription drugs, over-the-counter drugs, beauty products and cosmetics, seasonal merchandise, greeting cards, and convenience foods, as well as provides photo finishing services. The company also offers infusion and enteral nutrition services. As of June 30, 2014, it operated 7,705 retail drugstores, 860 health care clinics, 17 onsite pharmacies, 24 retail specialty pharmacy stores, 11 specialty mail order pharmacies, 4 mail service dispensing pharmacies, and 84 branches, as well as 6 centers of excellence for infusion and enteral services. The company was founded in 1892 and is headquartered in Woonsocket, Rhode Island.

cvs caremark corp (CVS) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $1.3M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $793.8K
Executive Vice President and President of Pha...
Total Annual Compensation: $900.0K
Executive Vice President
Total Annual Compensation: $900.0K
Chief Medical Officer and Executive Vice Pres...
Total Annual Compensation: $637.5K
Compensation as of Fiscal Year 2013.

cvs caremark corp (CVS) Key Developments

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.

McKesson Extends Pharmaceutical Distribution Agreement with CVS Caremark

McKesson Corporation announced a three-year extension of its existing distribution agreement with CVS Caremark through June, 2019.

 

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