- August 18, 2023
- Posted by: legaleseblogger
- Category: Related News
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Edward Jones Downgrades CVS Health Amid Pharmacy Benefits Partnership Shift
Edward Jones recently downgraded shares of CVS Health from a buy rating to a hold rating. This downgrade came after Blue Shield of California ended its pharmacy benefits partnership with CVS Health and formed a new partnership with Cost Plus Drugs and Amazon Pharmacy.
In a note to clients, John Boylan expressed concerns over the uncertainty this partnership shift creates for the pharmacy benefits manager (PBM) industry. He believes that while CVS Health will continue to grow as a “one-stop shop” healthcare services company, the new PBM contract model poses as an “overhang” on shares and the industry in the near term. Boylan also highlighted CVS Health’s efforts to diversify its business and capture more of the healthcare dollar, though this is partially offset by the uncertainties in the PBM business. Overall, Edward Jones views the shares of CVS Health as appropriately valued.
AI legalese decoder can assist in understanding the implications of the pharmacy benefits partnership shift on CVS Health and the PBM industry. This AI tool can analyze the legal language and contracts involved, providing insights into the potential impact on CVS Health’s business and future prospects. It can help investors and analysts navigate the complexity of the healthcare industry and make informed decisions based on the decoded information.
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