AllAnalyst Report
logoArgus•November 08, 2023

CVS Health Corporation: Trimming 2024 estimate

Symbols
CVS
Sector(s)
Healthcare
Rating
Current Price
$67.18
Price Target
Earnings Estimate
Summary

CVS Health Corp. operated 9,675 retail drugstores at the end of 2022, including over 1,880 locations in Target stores. The total number of locations exceeds 10,000 when we include a leading specialty pharmacy, Long Term Care pharmacies, Infusion Centers where cancer medicines, for example, are delivered through a needle. The combined company posted 2022 revenue of $322 billion, with about half in the PBM business (now Health Services), 34% in Retail/Long Term Care (Pharmacy & Consumer Wellness), and 27% in Health Care Benefits. Approximately 77% of the $107 billion in Retail and long-term care revenue came from prescriptions; 23% from over-the-counter medicines, Beauty and General Merchand

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Analyst Profile

Chris Graja, CFA

Senior Analyst: Retail
Chris covers the Consumer sector for Argus. He was the #1 Stock Picker in the Household Durables sector, winning the 2019 StarMine U.S. Analyst award from Refinitiv. He was the #1 Stock Picker in Food and Staples Retailing, winning back-to-back U.S. Analyst Awards in 2015 and 2016. He received a prestigious Volunteer of the Year award from the New York Society of Security Analysts in 2000. Prior to Argus, Chris spent 16 years at Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s research division before joining the new Bloomberg magazine as Technical Studies Editor in 1993. He rose to Executive Markets Editor of the publishing group. Chris co-authored the book “Investing in Small-Cap Stocks,” which was published in three U.S. editions, an audio book, and two Chinese editions. Chris earned an MBA from Rutgers University. He is a CFA charterholder.