MedcoHealth Solutions Ends Day Up 10.8% (MHS)

Shares of MedcoHealth Solutions Inc MHS ended the Tuesday trading session up 10.8% at $58.00 per share. The trading range for shares of MedcoHealth Solutions Inc was between $53.60 and $58.30 per share. Analysts covering the company's stock give it a consensus price target of $65.93 per share. Volume of shares traded was 11.7 million, while the daily average volume is 4.5 million shares. MedcoHealth Solutions Inc (MHS) announced on Tuesday before the market opened that it beat consensus Wall Street expectations. MedcoHealth Solutions Inc announced 3rd quarter adjusted earnings per share of 91 cents, on revenue of $16.3 billion. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 88 cents per share, on revenue of $16.14 billion. Chairman and chief executive officer David B. Snow Jr. said, “Our record third-quarter performance, the raised and narrowed 2010 EPS guidance, and solid 2011 EPS guidance all point to the continued strength of our business, especially when considering that the incremental EPS contribution from new generic introductions in 2011 is the lightest we will see in this decade through 2020. Looking forward, we expect that 2012 will reflect a very significant contribution from new generic introductions – in fact the highest of this decade and the highest in our history.” The company raised and narrowed its full-year 2010 earnings guidance to a range of $3.14 to $3.16 per share, up from the previous guidance range of $3.10 to $3.15 per share. Read more from Benzinga's Company news.