CVS HEALTH CORPORATION - CVS STOCK NEWS

CVS Health (NYSE: CVS) has declared a quarterly dividend of $0.55 per share on its Common Stock. This dividend is set to be paid on February 1, 2022, for shareholders on record as of January 21, 2022. With over 300,000 employees, including 40,000 healthcare professionals, CVS Health focuses on enhancing healthcare access and affordability. The company aims to improve community health outcomes while navigating the complexities of the healthcare system effectively.

CVS Health revealed its strategic growth plans during the 2021 Investor Day, focusing on enhancing healthcare accessibility and affordability. CEO Karen S. Lynch emphasized the importance of expanding consumer-centric services and enhancing primary care capabilities. Key initiatives include closing approximately 900 stores, launching new health products, and driving a digital-first approach. For 2021, CVS expects revenues of at least $290.3 billion and has initiated 2022 guidance of $304.0 to $309.0 billion. The company will also increase its dividend by 10% and has authorized a $10 billion share repurchase program.

CVS Health (NYSE: CVS) highlights National Influenza Vaccination Week (December 5-11) to encourage flu vaccinations amid the ongoing COVID-19 pandemic. A CVS Health survey indicates that 75% of Americans plan to get vaccinated, with 45% intending to visit retail pharmacies. The company emphasizes the importance of flu shots this season, anticipating an increase in flu cases as normal activities resume. CVS Pharmacy and MinuteClinic offer convenient vaccination options and diagnostic services for flu and COVID-19. CVS has administered approximately 43 million COVID-19 vaccines by October.

CVS Health (NYSE: CVS) and Microsoft Corp. (NYSE: MSFT) announced a strategic alliance to enhance consumer health solutions and empower CVS's 300,000 employees. This collaboration aims to drive digital transformation by utilizing Microsoft Azure for personalized health recommendations and operational efficiencies. Key initiatives include improving omnichannel pharmacy capabilities, enhancing patient experiences, and adopting advanced data science tools to streamline care delivery. The partnership is set to support CVS's role in COVID-19 vaccinations and expand cloud-based applications across the company.

CVS Health has announced a $9.2 million investment to create 41 affordable housing units in Washington, D.C.. This initiative aligns with CVS's commitment to address racial inequity and social determinants of health in underserved areas. The project, named 17 Mississippi Apartments, will provide mixed-income housing and support for individuals experiencing homelessness. Expected completion is set for mid-2023. This investment is a step toward improving community health through housing accessibility.

CVS Pharmacy has launched its Spoken Rx™ service across nearly 10,000 locations, including over 1,700 inside Target stores. This technology, created with the American Council of the Blind, offers audio prescription labels to assist visually impaired patients in accessing their prescription details. The service is free and can be utilized through the CVS Pharmacy App or via stand-alone devices. Spoken Rx aims to enhance healthcare accessibility and provides privacy and independence for blind and visually impaired customers.

CVS Health has completed the installation of time delay safe technology in all 851 CVS Pharmacy locations in Texas. This initiative aims to deter pharmacy robberies and reduce the diversion of controlled substances, including opioids. The technology, first introduced in Indianapolis, has shown a 70% decrease in robberies. CVS has already implemented these safes in 19 states, achieving a 50% decline in robberies across those areas. The company also emphasizes its ongoing commitment to community health and safety through various opioid misuse prevention programs.

CVS Health will invest $7.7 million in the Uptown Sky project, a 61-unit multifamily apartment development in Tampa. This initiative aims to address racial inequity and improve social determinants of health in underserved communities. Approximately 75% of Tampa residents identify as Black or Latino, with 60% living below the poverty line. The project will provide reduced rent units and on-site supportive services, including workforce training and health programs. CVS collaborates with Blue Sky Communities and the University Area Community Development Corporation for this undertaking.

CVS Health has announced a strategic shift to enhance healthcare affordability and accessibility. Prem Shah has been appointed as the Chief Pharmacy Officer to lead the omnichannel pharmacy strategy, while Michelle Peluso will co-lead retail operations starting January 1, 2022. CVS plans to close approximately 300 stores annually for three years, resulting in a fourth-quarter impairment charge of $1.0 to $1.2 billion, affecting EPS guidance, which has been revised down to $5.46 to $5.67. The company maintains its 2021 Adjusted EPS guidance of $7.90 to $8.00.