For Immediate Release
Chicago, IL – August 6, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Medco Health Solutions (MHS), CVS Caremark Corp (CVS), Express Scripts (ESRX), WellPoint Inc. (WLP) and Whole Foods Market (WFMI).
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Here are highlights from Wednesday’s Analyst Blog:
Medco Earnings Beat Estimates
Revenues from Medco Health Solutions’ (MHS) specialty pharmacy segment, Accredo Health Group, increased 20.3% to $2.38 billion primarily due to significant addition of new clients and organic growth of the segment.
Based on the robust performance of all the segments, MHS has raised the 2009 earnings guidance. The company revised its earnings guidance to $2.76 – $2.81 (earlier $2.67-$2.77), an increase of 18-21% compared to the year ago period. The strong growth and the positive outlook is more significant in the current scenario where rising unemployment has left many people out of the insurance bracket forcing some PBM’s to lower their outlook.
In another major development, MHS won the business for managing pharmacy benefits for Chrysler’s union retirees from its rival CVS Caremark Corp (CVS). Though MHS is the leading player in the PBM segment, it will face tough challenges once Express Scripts (ESRX) completes its $4.68 billion acquisition of health insurer WellPoint Inc. (WLP), making the combined entity another major player.
Whole Foods Outperforms
Whole Foods Market (WFMI) recently reported better-than-expected third quarter 2009 results with low single-digit growth in both the top-line and bottom-line. EPS came in at 25 cents, surpassing the Zacks Consensus Estimate of 19 cents, and up 4.2% year over year compared to 24 cents reported in the prior-year quarter, driven by stringent cost-control measures and improved store-level performance.
On account of the better-than-expected results, management raised its full-year earnings outlook. The company now expects fiscal year 2009 EPS in the range of 80 cents to 82 cents, up from 65 cents to 70 cents forecasted earlier. For the fourth quarter 2009, EPS is expected to be in the range of 16 cents to 18 cents.
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