Company profile

Larry J. Merlo
Incorporated in
Fiscal year end
Former names
CVS Caremark Corp, CVS Corp, Cvs/caremark Corp, Melville Corp
IRS number

CVS stock data

FINRA relative short interest over last month (20 trading days) ?


18 Feb 20
2 Apr 20
31 Dec 20


Company financial data Financial data

Quarter (USD) Dec 19 Sep 19 Jun 19 Mar 19
Revenue 66.89B 64.81B 63.43B 61.65B
Net income 1.75B 1.53B 1.94B 1.42B
Diluted EPS 1.33 1.17 1.49 1.09
Net profit margin 2.61% 2.36% 3.05% 2.31%
Operating income 3.04B 2.93B 3.33B 2.69B
Net change in cash 490M -870M 167M 1.84B
Cash on hand 5.68B 5.19B 6.06B 5.9B
Cost of revenue 42.07B 40.44B 38.97B 37.25B
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 256.78B 194.58B 184.79B 177.55B
Net income 6.63B -594M 6.62B 5.32B
Diluted EPS 5.08 -0.57 6.44 4.9
Net profit margin 2.58% -0.31% 3.58% 2.99%
Operating income 11.99B 4.02B 9.54B 10.39B
Net change in cash 1.62B 2.36B -1.68B 912M
Cash on hand 5.68B 4.06B 1.7B 3.37B
Cost of revenue 158.72B 156.45B 156.22B 148.67B

Financial data from CVS Health earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
30 Mar 20 James David Clark Common Stock Sell Dispose S 60 3,030 181.8K 9,760.255
30 Mar 20 James David Clark Common Stock Option exercise Aquire M 54.53 3,030 165.23K 12,790.255
30 Mar 20 James David Clark Stock Option Common Stock Option exercise Dispose M 54.53 3,030 165.23K 0
28 Feb 20 Derica W Rice Common Stock Payment of exercise Dispose F 59.18 8,079 478.12K 26,827.398
28 Feb 20 Derica W Rice Common Stock Grant Aquire A 59.18 21,943 1.3M 34,906.398
28 Feb 20 Jonathan C Roberts Stock Unit Grant Aquire A 59.18 63,366 3.75M 295,406.061
28 Feb 20 Thomas M Moriarty Common Stock Payment of exercise Dispose F 59.18 13,457 796.39K 61,513.022
28 Feb 20 Thomas M Moriarty Common Stock Grant Aquire A 59.18 31,683 1.87M 74,970.022
77.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1791 1659 +8.0%
Opened positions 233 144 +61.8%
Closed positions 101 102 -1.0%
Increased positions 706 749 -5.7%
Reduced positions 689 608 +13.3%
13F shares
Current Prev Q Change
Total value 544.61B 420.06B +29.7%
Total shares 1.01B 996.99M +1.4%
Total puts 20.31M 20.01M +1.5%
Total calls 27.5M 23M +19.5%
Total put/call ratio 0.7 0.9 -15.1%
Largest owners
Shares Value Change
Vanguard 104.81M $7.79B +1.4%
BLK BlackRock 94.16M $7B +0.9%
STT State Street 55.79M $4.14B -7.9%
Wellington Management 40.43M $3B -0.2%
FMR 28.22M $2.1B -3.1%
Capital International Investors 24.74M $1.84B +1.8%
Dodge & Cox 20.5M $1.52B -1.7%
N Price T Rowe Associates 19.12M $1.42B -0.4%
Geode Capital Management 18.67M $1.38B +1.8%
BEN Franklin Resources 17.95M $1.33B -15.6%
Largest transactions
Shares Bought/sold Change
Norges Bank 12.86M +12.86M NEW
Capital World Investors 10.97M +9.67M +744.2%
Barrow Hanley Mewhinney & Strauss 10.92M -5.95M -35.3%
STT State Street 55.79M -4.8M -7.9%
BEN Franklin Resources 17.95M -3.32M -15.6%
TFC Truist Financial 3.48M +3.2M +1153.7%
MS Morgan Stanley 17.29M +2.52M +17.1%
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 3.04M +2.51M +468.4%
Susquehanna International 440.59K -2.49M -85.0%
Vulcan Value Partners 6.68M -2.07M -23.7%

Financial report summary

  • Each of our segments operates in a highly competitive and evolving business environment; and gross margins in the industries in which we compete may decline.
  • A change in our Health Care Benefits product mix may adversely affect our profit margins.
  • Negative public perception of the industries in which we operate, or of our industries’ or our practices, can adversely affect our businesses, operating results, cash flows and prospects.
  • We must maintain and improve our relationships with our retail and specialty pharmacy customers and increase the demand for our products and services, including proprietary brands.
  • We face risks relating to the availability, pricing and safety profiles of prescription drugs that we purchase and sell.
  • A number of factors, many of which are beyond our control, contribute to rising health care and other benefit costs. We may not be able to accurately forecast health care and other benefit costs, which could adversely affect our Health Care Benefits segment’s operating results.
  • The reserves we hold for expected claims in our Insured Health Care Benefits products are based on estimates that involve an extensive degree of judgment and are inherently variable. Any reserve, including a premium deficiency reserve, may be insufficient. If actual claims exceed our estimates, our operating results could be materially adversely affected, and our ability to take timely corrective actions to limit future costs may be limited.
  • Our operating results are affected by the health of the economy in general and in the geographies we serve.
  • We are exposed to risks relating to the solvency of other insurers.
  • Extreme events, or the threat of extreme events, could materially increase our health care (including behavioral health) costs.
  • We are subject to potential changes in public policy, laws and regulations, including reform of the U.S. health care system, which can adversely affect our businesses. Entitlement program reform, if it occurs, could have a material adverse effect on our businesses, operations and/or operating results.
  • If we fail to comply with applicable laws and regulations, many of which are highly complex, we could be subject to significant adverse regulatory actions or suffer brand and reputational harm.
  • If our compliance or other systems and processes fail or are deemed inadequate, we may suffer brand and reputational harm and become subject to regulatory actions and/or litigation.
  • We routinely are subject to litigation and other adverse legal proceedings, including class actions and qui tam actions. Many of these proceedings seek substantial damages which may not be covered by insurance. These proceedings are costly to defend, may result in changes in our business practices, harm our brand and reputation and adversely affect our businesses and operating results.
  • We frequently are subject to regular and special governmental audits, investigations and reviews that could result in changes to our business practices and also could result in material refunds, fines, penalties, civil liabilities, criminal liabilities and other sanctions.
  • Our litigation and regulatory risk profile are changing as we offer new products and services and expand in business areas beyond our historical core businesses of Pharmacy Services, Retail/LTC and Health Care Benefits.
  • We face unique regulatory and other challenges in our Medicare and Medicaid businesses.
  • Programs funded in whole or in part by the U.S. federal government account for a significant portion of our revenues, and we expect that percentage to increase.
  • Possible changes in industry pricing benchmarks and drug pricing generally can adversely affect our PBM and Retail/LTC businesses.
  • We may not be able to obtain adequate premium rate increases in our Insured Health Care Benefits products, which would have an adverse effect on our revenues, MBRs and operating results and could magnify the adverse impact of increases in health care and other benefit costs and of ACA assessments, fees and taxes.
  • Minimum MLR rebate requirements limit the level of margin we can earn in our Insured Health Care Benefits products while leaving us exposed to higher than expected medical costs. Challenges to our minimum MLR rebate methodology and/or reports could adversely affect our operating results.
  • Our operating results may be adversely affected by changes in laws and policies governing employers and by union organizing activity.
  • We face international political, legal and compliance, operational, regulatory, economic and other risks that may be more significant than in our domestic operations.
  • Risks Relating to Our Acquisition of Aetna
  • We may be unable to successfully integrate companies we acquire.
  • We expect to continue to pursue acquisitions, joint ventures, strategic alliances and other inorganic growth opportunities, which may be unsuccessful, cause us to assume unanticipated liabilities, disrupt our existing businesses, be dilutive or lead us to assume significant debt, among other things.
  • Failure to meet customer expectations may harm our brand and reputation, our ability to retain and grow our customer base and membership and our operating results and cash flows.
  • We and our vendors have experienced and continue to experience cyber attacks. We can provide no assurance that we or our vendors will be able to detect, prevent or contain the effects of such attacks or other information security (including cybersecurity) risks or threats in the future.
  • Data governance failures can adversely affect our reputation, businesses and prospects. Our use and disclosure of members’, customers’ and other constituents’ sensitive information is subject to complex regulations at multiple levels. We would be adversely affected if we or our business associates or other vendors fail to adequately protect members’, customers’ or other constituents’ sensitive information.
  • Product liability, product recall or personal injury issues could damage our reputation and have a significant adverse effect on our businesses, operating results, cash flows and/or financial condition.
  • We face significant competition in attracting and retaining talented employees. Further, managing succession for, and retention of, key executives is critical to our success, and our failure to do so could adversely affect our businesses, operating results and/or future performance.
  • Sales of our products and services are dependent on our ability to attract and motivate internal sales personnel and independent third-party brokers, consultants and agents. New distribution channels create new disintermediation risk. We may be subject to penalties or other regulatory actions as a result of the marketing practices of brokers and agents selling our products.
  • Failure of our businesses to effectively collaborate could prevent us from maximizing our operating results.
  • The failure or disruption of our information technology systems or the failure of our information technology infrastructure to support our businesses could adversely affect our reputation, businesses, operating results and cash flows.
  • Our business success and operating results depend in part on effective information technology systems and on continuing to develop and implement improvements in technology. Pursuing multiple initiatives simultaneously could make this continued development and implementation significantly more challenging.
  • We are subject to payment-related risks that could increase our operating costs, expose us to fraud or theft, subject us to potential liability and disrupt our business operations.
  • Both our and our vendors’ operations are subject to a variety of business continuity hazards and risks, any of which could interrupt our operations or otherwise adversely affect our performance and operating results.
  • Goodwill and other intangible assets could, in the future, become impaired.
  • Adverse conditions in the U.S. and global capital markets can significantly and adversely affect the value of our investments in debt and equity securities, mortgage loans, alternative investments and other investments, and our operating results and/or our financial condition.
  • We have incurred and assumed significant indebtedness which has increased our consolidated interest expense and could adversely affect our business flexibility and increase our borrowing costs.
  • We face risks relating to the market availability, pricing, suppliers and safety profiles of prescription drugs and other products that we purchase and sell.
  • Our operating results may be adversely affected if we are unable to contract with providers on competitive terms and develop and maintain attractive networks with high quality providers.
  • If our service providers fail to meet their contractual obligations to us or to comply with applicable laws or regulations, we may be exposed to brand and reputational harm, litigation and/or regulatory action. This risk is particularly high in our Medicare, Medicaid, dual eligible and dual eligible special needs plan programs.
  • We may experience increased medical and other benefit costs, litigation risk and customer and member dissatisfaction when providers that do not have contracts with us render services to our Health Care Benefits members.
  • Continuing consolidation and integration among providers and other suppliers may increase our medical and other covered benefits costs, make it difficult for us to compete in certain geographies and create new competitors.
Content analysis ?
H.S. sophomore Avg
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