Today’s Research Reports on Stocks to Watch: CVS Health and Walgreens

NEW YORK, NY / ACCESSWIRE / June 29, 2018 / Shares of pharma and drug store stocks were collapsing in Thursday trading on the news that Amazon would be buying online pharmacy player PillPack for an undisclosed amount. CVS Health and Walgreens were among the losers in Thursday trading, as well as Rite Aid.

RDI Initiates Coverage on:

CVS Health Corporation
https://www.rdinvesting.com/report/?ticker=CVS

Walgreens Boots Alliance, Inc.
https://www.rdinvesting.com/report/?ticker=WBA

CVS Health Corporation shares closed down 6.10% on Thursday with about 26.1 million shares traded. The pharmacy company saw its shares drop as traders reacted to the news that Amazon would be buying online prescription drug company PillPack. It’s been long awaited that Amazon would make a push into the pharmacy arena and yesterday’s news clinched it. About the acquisition, Amazon’s head of worldwide consumer business, Jeff Wilke, said that the company wants to help PillPack “continue making it easy for people to save time, simplify their lives, and feel healthier.” Amazon said the transaction is expected to finalize in the second half of the year and is pending regulatory approvals.

Access RDI’s CVS Health Corporation Research Report at:
https://www.rdinvesting.com/report/?ticker=CVS

Walgreens Boots Alliance, Inc. shares closed down almost 10% on Thursday after Wall Street learned that Amazon was entering the pharmaceutical arena by buying PillPack. Despite traders initially pumping gains into the company after it reported earnings, the news about Amazon pushed shares lower. Walgreens CEO Stefano Pessina said on the company’s third quarter quarterly earnings call that the firm is “not particular worried.” He also remarked on the company’s quarterly performance and said, “So we are 3 quarters of the way through the year, and we are here reporting a respectable overall performance. It has been a quarter of continued hard work toward putting in place the elements of our strategy to grow our presence and maintain our relevance in the various markets we serve. We have made solid progress against our strategic goals.” Walgreens reported revenue of $34.33 billion which was ahead of the $34.05 billion analysts had been waiting for. The company reported it earned $1.53 per share beating analysts’ expectations of $1.48 per share. Walgreens also announced that it intends to buy back as much as $10 billion of its shares and raised its dividend by 10%.

Access RDI’s Walgreens Boots Alliance, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=WBA

Our Actionable Research on CVS Health Corporation (NYSE: CVS) and Walgreens Boots Alliance, Inc. (NASDAQ: WBA) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com

ReleaseID: 504129