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CVS Stock Gains From Its Birth Control Prescribing Service Launch
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CVS Health Corporation (CVS - Free Report) recently introduced hormonal contraceptive prescribing service at CVS Pharmacy locations in Massachusetts. Under the service, a CVS pharmacist will evaluate women interested in receiving a birth control prescription and those who are clinically eligible will receive the same.
With the latest launch, the company leaped toward lowering barriers that prevent women from getting the birth control they need. The initiative also helped address the disparities in contraceptive access for those in historically underserved areas.
Following the announcement, shares of CVS Health rose 2.5% to $57.53 yesterday. The company continues to gain a high level of synergies from its various latest launches through CVS Pharmacy. Accordingly, we expect market sentiment to continue to remain positive around this development.
Importance of CVS’ Birth Control Prescribing Service
Millions of women in the United States live with insufficient access to birth control methods. One in three women faces trouble getting prescriptions for birth control. Hormonal birth control is one of the safest and most effective ways to prevent unplanned pregnancy and support family planning. However, many women find it difficult to obtain the medicine in Massachusetts.
Prescription of hormonal contraceptive was authorized as part of the Massachusetts 2024 State Budget. Enabling pharmacists to prescribe hormonal birth control is an important step toward addressing disparities in access to basic, necessary reproductive healthcare.
The new birth control prescribing service at CVS Pharmacy is aimed to help women in Massachusetts with increased access to birth control. It should further support women's unique healthcare needs. Nearly 400 CVS Pharmacy locations in Massachusetts are offering birth control prescribing services.
How CVS Health’s Birth Control Prescribing Service Works
Patients interested in birth control can visit any Massachusetts CVS Pharmacy location and ask for a birth control consultation with a pharmacist. Those aged 18 and older are eligible for a consultation with a CVS pharmacist. The pharmacist will discuss the results of the health screening with the patient and determine their eligibility to receive birth control at the pharmacy. If eligible, the pharmacist will review different hormonal birth control options available and choose an appropriate therapy for the patient.
Recent Development by CVS Health
In May, the company launched Well Market, a new store-brand consumables line featuring snacks, beverages and groceries. Well Market brings 40 delicious new snacks, beverages and groceries to the shelves of CVS Pharmacy stores nationwide. In addition, the existing Gold Emblem, Gold Emblem abound and Big Chill product lines are expected to be brought under the Well Market umbrella over time.
Image Source: Zacks Investment Research
Industry Prospects Favor CVS Health
Per a Fortune Business Insights report, the global contraceptive drugs market size was valued at $18.57 billion in 2023 and is projected to grow from $19.80 billion in 2024 to $37.22 billion by 2032 at a CAGR of 8.2%.
The primary factors influencing market growth include growing awareness regarding contraceptive drugs and available reimbursement policies in developed countries.
Henceforth, CVS Health’s recently launched birth control prescribing service is well-timed.
Price Performance by CVS Health
In the past year, shares of CVS have lost 17.7% compared with the industry’s 28% decline.
CVS’ Zacks Rank and Key Picks
CVS Health currently carries a Zacks Rank #4 (Sell).
Intuitive Surgical’s shares have surged 62.2% in the past year. Estimates for the company’s earnings have moved north 5.1% to $1.65 per share for 2024 in the past 30 days.
ISRG’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.97%. In the last reported quarter, it posted an earnings surprise of 16.34%.
Estimates for TransMedics’ 2024 EPS have moved up 125% to 27 cents in the past 30 days. Shares of the company have soared 143.8% in the past year compared with the industry’s 15.8% growth.
TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for Boston Scientific’s 2024 EPS have increased 1.7% to $2.40 in the past 30 days. In the past year, shares of BSX have risen 55.9% compared with the industry’s 18.3% growth.
In the last reported quarter, BSX delivered an earnings surprise of 6.90%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.18%.
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CVS Stock Gains From Its Birth Control Prescribing Service Launch
CVS Health Corporation (CVS - Free Report) recently introduced hormonal contraceptive prescribing service at CVS Pharmacy locations in Massachusetts. Under the service, a CVS pharmacist will evaluate women interested in receiving a birth control prescription and those who are clinically eligible will receive the same.
With the latest launch, the company leaped toward lowering barriers that prevent women from getting the birth control they need. The initiative also helped address the disparities in contraceptive access for those in historically underserved areas.
Following the announcement, shares of CVS Health rose 2.5% to $57.53 yesterday. The company continues to gain a high level of synergies from its various latest launches through CVS Pharmacy. Accordingly, we expect market sentiment to continue to remain positive around this development.
Importance of CVS’ Birth Control Prescribing Service
Millions of women in the United States live with insufficient access to birth control methods. One in three women faces trouble getting prescriptions for birth control. Hormonal birth control is one of the safest and most effective ways to prevent unplanned pregnancy and support family planning. However, many women find it difficult to obtain the medicine in Massachusetts.
Prescription of hormonal contraceptive was authorized as part of the Massachusetts 2024 State Budget. Enabling pharmacists to prescribe hormonal birth control is an important step toward addressing disparities in access to basic, necessary reproductive healthcare.
The new birth control prescribing service at CVS Pharmacy is aimed to help women in Massachusetts with increased access to birth control. It should further support women's unique healthcare needs. Nearly 400 CVS Pharmacy locations in Massachusetts are offering birth control prescribing services.
How CVS Health’s Birth Control Prescribing Service Works
Patients interested in birth control can visit any Massachusetts CVS Pharmacy location and ask for a birth control consultation with a pharmacist. Those aged 18 and older are eligible for a consultation with a CVS pharmacist. The pharmacist will discuss the results of the health screening with the patient and determine their eligibility to receive birth control at the pharmacy. If eligible, the pharmacist will review different hormonal birth control options available and choose an appropriate therapy for the patient.
Recent Development by CVS Health
In May, the company launched Well Market, a new store-brand consumables line featuring snacks, beverages and groceries. Well Market brings 40 delicious new snacks, beverages and groceries to the shelves of CVS Pharmacy stores nationwide. In addition, the existing Gold Emblem, Gold Emblem abound and Big Chill product lines are expected to be brought under the Well Market umbrella over time.
Image Source: Zacks Investment Research
Industry Prospects Favor CVS Health
Per a Fortune Business Insights report, the global contraceptive drugs market size was valued at $18.57 billion in 2023 and is projected to grow from $19.80 billion in 2024 to $37.22 billion by 2032 at a CAGR of 8.2%.
The primary factors influencing market growth include growing awareness regarding contraceptive drugs and available reimbursement policies in developed countries.
Henceforth, CVS Health’s recently launched birth control prescribing service is well-timed.
Price Performance by CVS Health
In the past year, shares of CVS have lost 17.7% compared with the industry’s 28% decline.
CVS’ Zacks Rank and Key Picks
CVS Health currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Intuitive Surgical (ISRG - Free Report) , TransMedics Group (TMDX - Free Report) and Boston Scientific(BSX - Free Report) . While Intuitive Surgical and TransMedics currently sport a Zacks Rank #1 (Strong Buy) each, Boston Scientificcarries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical’s shares have surged 62.2% in the past year. Estimates for the company’s earnings have moved north 5.1% to $1.65 per share for 2024 in the past 30 days.
ISRG’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.97%. In the last reported quarter, it posted an earnings surprise of 16.34%.
Estimates for TransMedics’ 2024 EPS have moved up 125% to 27 cents in the past 30 days. Shares of the company have soared 143.8% in the past year compared with the industry’s 15.8% growth.
TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for Boston Scientific’s 2024 EPS have increased 1.7% to $2.40 in the past 30 days. In the past year, shares of BSX have risen 55.9% compared with the industry’s 18.3% growth.
In the last reported quarter, BSX delivered an earnings surprise of 6.90%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.18%.