CVS Health Preannounces Large Earnings Miss, But Analysts Stay Bullish On Long-Term Recovery
Shares of CVS Health Corp (NYSE:CVS) were under pressure in early Monday trading after the company preannounced an earnings miss for the third quarter.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
Piper Sandler On CVS Health
Analyst Jessica Tassan maintained an Overweight rating and price target of $72.
CVS Health preannounced a significant MLR (medical loss ratio) and earnings miss for the third quarter and withdrew its full-year guidance, Tassan said in a note. “During 3Q24, CVS recorded $1.1B of premium deficiency reserves primarily related to the Medicare and Individual Exchange businesses within HCB (health care benefits),” she wrote.
While rates, risk adjustment and the IRA are exerting pressure on …
Full story available on Benzinga.com