CVS Health Corporation ( CVS Quick Quote CVS - Free Report) recently announced that the updated mRNA vaccine, which was recently authorized by the FDA, is now available at its CVS Pharmacy locations. Starting today, all pharmacies and retail medical clinics will begin receiving the new CDC (Centers for Disease Control and Prevention)-recommended vaccine and continue to receive the vaccine inventory on a rolling basis throughout the week.
With this development, the company is keeping abreast of the effective tools that will curtail the lingering effects of COVID-19 across communities in the country.
News in Detail
Each updated mRNA vaccine is approved for individuals 12 years of age and older and is authorized under emergency use for individuals six months through 11 years of age. For individuals aged five and above, the new vaccines are authorized regardless of previous vaccinations but must be administered two months following the last dose of any COVID-19 vaccine.
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According to the FDA, the new mRNA vaccines are formulated to closely target currently circulating variants and provide better protection against the serious consequences of COVID-19. The vaccine is available at no cost through most of the insurance plans. Appointments for individuals aged five and above are made available at the company’s website and via the CVS Pharmacy app. Patients can also choose to walk into their local CVS Pharmacy and request vaccination, as it becomes available in individual stores.
Digital scheduling through CVS.com and the CVS Pharmacy app allows patients to schedule multiple appointments at once, enabling families, caregivers and other groups to get vaccinated together. In addition, patients can schedule multiple vaccinations in one appointment, such as COVID-19 and flu, as recommended by CDC. CVS Pharmacy also confirmed its participation in CDC’s Bridge Access Program.
Industry Prospects Per a research report, the global vaccine market was valued at $124.2 billion in 2022 and is expected to witness a CAGR of 1.4% by 2030. Other Highlights
As the flu season approaches in the United States, CVS Health is leveraging its national footprint of pharmacies and retail medical clinics to make it easier for people to get vaccinated in a timely, safe and convenient way.
The company is also offering the new respiratory syncytial virus vaccine, which has been approved for adults aged 60 and up. Further, in the last reported second quarter of 2023, CVS’ Pharmacy and Consumer Wellness segment posted strong revenue growth despite mixed COVID-19-related trends and continued economic uncertainty.
In the past six months, CVS shares have decreased 7% compared with the
industry’s fall of 14.4%. Zacks Rank and Key Picks
CVS Health currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are
Haemonetics ( HAE Quick Quote HAE - Free Report) , Quanterix ( QTRX Quick Quote QTRX - Free Report) and SiBone ( SIBN Quick Quote SIBN - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here .
Haemonetics’ stock has risen 15.4% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 148.8% in the past year against the industry’s decline of 4.2 %.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s 2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 21.3% in the past year against the industry’s fall of 5.1%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.