Despite a recent run on shares of Walgreens Boots Alliance, the stock remains down 30% over the past five years. The company is a dividend champion, and the dividend remains well-funded by cash flows. However, the company's valuation is deceptive. Fundamentals are deteriorating from disruption. Walgreens is a value trap with limited total returns potential.
Cigna reported strong first-quarter results despite facing pandemic challenges that increased its costs. It also raised its 2021 revenue and profit forecast. The company operates in the healthcare sector, providing various health insurance solutions. It posted adjusted EPS of $4.73 on adjusted revenue of $41 billion. That compared to adjusted EPS of $4.69 and revenue of $38.4 billion in the same period last year. The EPS figure beat Wall Street's estimate of $4.37.
Johns Hopkins University on Thursday announced plans to increase the minimum wage at the school and health system to $15 an hour. The boost, according to a press release, will affect more than 6,000 Maryland employees. The university and health system together are the largest private employer in the state, they say. The pay raise will go into effect on July 1 for university employees and Jan. 1 for employees of the health system.
Pfizer Inc on Tuesday raised its forecast for 2021 COVID-19 vaccine sales by more than 70% to $26 billion and said demand from governments around the world fighting to halt the pandemic could contribute to its growth for years to come.
The Blue Cross Blue Shield Association said it dropped a rule that limited competition among its member insurers, moving to implement a key aspect of an antitrust settlement the companies reached last year with customers.