CVS Health (CVS) Issues FY18 Earnings Guidance

CVS plans to offer a nationwide service via its smartphone app for diagnosis of conditions like colds and flu skin issues and general wellness matters

Analysts predicted earnings of $1.61 per share on $46.32 billion in revenue.

Shares, which are down about 17% in the past year, rose 2.3% to $66.95 in premarket trading Wednesday.

3, 2017, file photo shows a CVS Pharmacy in the Brooklyn borough of NY.

More notable recent CVS Health Corporation (NYSE:CVS) news were published by: Benzinga.com which released: "CVS Health Q2 Earnings Preview" on August 07, 2018, also Seekingalpha.com with their article: "CVS Is A Prescription For Profits" published on July 26, 2018, Nasdaq.com published: "Why Carl Icahn Is Long Cigna and Short Express Scripts" on August 08, 2018. Critics say those largely secretive agreements play a major role in keeping drug prices elevated, and regulators have talked about eliminating them.

"We're excited to be able to bring this innovative care option to patients", Troyen A. Brennan, MD, CVS Health's Executive Vice President and Chief Medical Officer, said in a press release.

Net loss attributable to CVS was $2.56 billion, or $2.52 per share, in the second quarter ended June 30. Forte Capital LLC ADV now owns 51,033 shares of the pharmacy operator's stock worth $3,284,000 after acquiring an additional 1,917 shares during the period. Revenue rose 2 percent to about $46.7 billion. Both figures beat expectations.

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Excluding items, the company earned $1.69 per share, beating analysts' average estimate of $1.61, according to Thomson Reuters I/B/E/S. This is a drop from the pharmacy company's net income of $1.10 billion from the same time a year ago.

That charge and some costs tied to a pending $69 billion acquisition of the health insurer Aetna led to the quarterly loss.

CVS Health expects full-year earnings in the range of $6.98 to $7.08 per share.

A number of equities analysts have recently issued reports on CVS shares.

Some Historical CVS News: 06/03/2018 - CVS Health readies one of the largest corporate bond sales on record; 06/03/2018 - CVS Borrows $40 Billion for Aetna in Third-Largest Bond Sale; 24/05/2018 - Can CVS Health Buy BioPharmX Corporation?

MinuteClinic Video Visits rely on a virtual care technology platform by Teledoc to provide patients with customized service through the CVS Pharmacy app. Through its more than 9,800 retail locations, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with approximately 94 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan, the company enables people, businesses and communities to manage health in more affordable and effective ways.

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