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CVS HEALTH CORPORATION - CVS STOCK NEWS

Welcome to our dedicated page for CVS HEALTH CORPORATION news (Ticker: CVS), a resource for investors and traders seeking the latest updates and insights on CVS HEALTH CORPORATION stock.

CVS Health Corporation (NYSE: CVS) is an American healthcare conglomerate that encompasses CVS Pharmacy, a widespread retail pharmacy chain, CVS Caremark, a premier pharmacy benefits manager (PBM), and Aetna, a leading health insurance provider. With over 9,000 retail locations across the U.S., CVS Health offers a diverse range of healthcare services aimed at enhancing accessibility and affordability.

Operations and Services

CVS Health's core activities revolve around its retail pharmacy operations, which include prescription services and an array of health and wellness products. It processes approximately 2 billion adjusted claims annually through CVS Caremark, ensuring efficient PBM services. Aetna, serving about 26 million medical members, complements CVS with comprehensive health insurance plans.

Recent Developments

In recent news, CVS Health has achieved significant milestones:

  • Financial Results: The company reported strong fourth-quarter and full-year financial results for 2023, reflecting its robust position in the healthcare market.
  • Affordable Housing Initiatives: CVS Health has invested nearly $35 million in equity investments to develop affordable housing in Hawaii, addressing urgent community needs post-natural disasters.
  • Medicaid Services: Aetna Better Health of Michigan, part of CVS Health, has been recommended to continue serving Medicaid and CHIP beneficiaries under Michigan’s new Comprehensive Health Care Program (CHCP).

Strategic Acquisitions

CVS Health's acquisition of Oak Street Health adds primary care services to its offering, fostering synergies across its business lines. This strategic move aligns with its mission to provide seamless healthcare solutions, emphasizing convenience and comprehensive care.

Community Impact

CVS Health is committed to enhancing community health through local presence and digital channels. Its investments in affordable housing and educational programs in Hawaii exemplify its dedication to addressing social determinants of health.

Upcoming Events

The company will hold a conference call on May 1st, 2024, to discuss the first-quarter financial results of 2024, offering insights into its ongoing strategies and performance.

With over 300,000 dedicated professionals, including 40,000+ healthcare providers, CVS Health continues to be a trusted partner in health, improving lives with every significant moment of care.

Rhea-AI Summary

CVS Health has administered over 10 million COVID-19 vaccines as part of the Pharmacy Partnership for Long-Term Care and Federal Retail Pharmacy programs. Vaccines are available in nearly 2,000 locations across 44 states, Puerto Rico, and Washington D.C., with the potential to administer 25 million shots monthly. The company reports a 97% drop in COVID-19 cases and a 94% reduction in deaths in nursing homes. CVS is focused on equitable vaccine access for underserved communities, with significant efforts in outreach and community vaccination sites.

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CVS Health has unveiled its Transform Health 2030 initiative, focusing on four pillars: Healthy People, Healthy Business, Healthy Community, and Healthy Planet. The goals include facilitating 65 billion health care interactions and investing over $85 billion in inclusive wellness by 2030. Significant achievements from 2020 include administering over 15 million COVID-19 tests and expanding the HealthHUB model to 650 locations. The 2020 CSR report also addresses social inequity, with commitments to support Black and diverse communities.

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CVS Health announced that it will begin administering COVID-19 vaccines at two locations in Delaware starting March 31, 2021. Appointments for the vaccine will be available for booking from March 30. Eligible individuals include those meeting state criteria, K-12 teachers, and childcare workers. CVS aims to expand vaccination efforts as supply increases, ultimately being able to deliver 20-25 million shots per month across the country. Vaccination is free for insured patients and those qualifying for federal assistance.

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CVS Health announced plans to start administering COVID-19 vaccines at five select locations in New Mexico beginning March 31, 2021. Appointments for vaccinations will open on March 30. Eligible recipients include individuals meeting state criteria, K-12 teachers, and childcare workers. The vaccines will be provided at no cost for insured patients and through a federal program for the uninsured. CVS plans to gradually expand vaccination access across more locations in New Mexico as supply increases, aiming to administer up to 25 million shots monthly across the country.

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CVS Health announced it will start administering COVID-19 vaccines on March 31 at select CVS Pharmacy locations in Washington. Appointments can be booked starting March 30, with vaccinations for individuals meeting state criteria, including K-12 teachers and childcare workers. The service is free for insured patients and uninsured individuals through a federal program. Initially, vaccines will be offered at select locations in Burien, Lakewood, and Seattle, with plans for expansion as vaccine supply increases.

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CVS Health (NYSE: CVS) announced plans to administer COVID-19 vaccines starting on March 31, 2021 at select locations in West Virginia. Appointments can be booked beginning March 30. Vaccinations will be available for individuals meeting state criteria, K-12 teachers, and childcare workers. CVS aims to enhance vaccine access, with no cost for insured patients. The initiative spans hundreds of locations nationwide, with a capacity to administer 20-25 million shots monthly as supply increases.

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CVS Health has launched COVID-19 antibody testing at nearly 60 MinuteClinic locations across Massachusetts, providing results in just 15 minutes. The service is intended to assess previous exposure to the virus and costs $38. This initiative is part of CVS Health's broader commitment to accessible COVID-19 testing, with over 15 million tests administered across more than 4,800 pharmacy locations nationwide. MinuteClinic aims to meet the growing demand for affordable testing by leveraging its convenient locations and extended hours.

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CVS Health (NYSE: CVS) has announced the launch of COVID-19 antibody testing at over 100 MinuteClinic locations in Texas. This point-of-care test, which costs $38, provides results within 15 minutes, assessing prior exposure to the virus. MinuteClinic offers extended hours and may bill Medicaid for eligible patients. CVS Health has conducted more than 15 million COVID-19 tests nationwide and is exploring further service expansions.

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CVS Health announced the expansion of COVID-19 vaccinations in California, adding 119 pharmacy locations starting March 14, 2021. This increase brings the total number of participating CVS locations in the state to 286, contributing to the effort to combat the pandemic. Appointments can be booked from March 13, and the vaccines will be available to eligible individuals, including K-12 teachers and childcare workers. The vaccination supply is provided through the Federal Retail Pharmacy Program. CVS aims to administer 20-25 million doses per month across nearly 1,200 locations nationwide.

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FAQ

What is the current stock price of CVS HEALTH CORPORATION (CVS)?

The current stock price of CVS HEALTH CORPORATION (CVS) is $56.46 as of October 31, 2024.

What is the market cap of CVS HEALTH CORPORATION (CVS)?

The market cap of CVS HEALTH CORPORATION (CVS) is approximately 72.9B.

What does CVS Health Corporation do?

CVS Health Corporation is a healthcare conglomerate that includes a retail pharmacy chain, a pharmacy benefits manager, and a health insurance provider.

How many stores does CVS Health operate?

CVS Health operates over 9,000 retail pharmacy stores across the United States.

What recent acquisitions have CVS Health made?

CVS Health recently acquired Oak Street Health, adding primary care services to its existing healthcare offerings.

What is CVS Caremark?

CVS Caremark is the pharmacy benefits manager (PBM) division of CVS Health, processing about 2 billion adjusted claims annually.

What services does Aetna provide?

Aetna, part of CVS Health, provides a range of health insurance products, serving approximately 26 million medical members.

What community initiatives is CVS Health involved in?

CVS Health invests in affordable housing and educational programs, particularly in areas like Hawaii to support community health and wellbeing.

What is the financial outlook for CVS Health in 2024?

CVS Health revised its full-year 2024 GAAP diluted EPS guidance to at least $5.64 and adjusted EPS guidance to at least $7.00, reflecting continued medical cost trends.

When will CVS Health discuss its first-quarter results of 2024?

CVS Health will hold a conference call on May 1st, 2024, to discuss its first-quarter financial results.

How does CVS Health support Medicaid and CHIP beneficiaries?

Through Aetna Better Health, CVS Health supports Medicaid and CHIP beneficiaries by providing coordinated health care services, recently recommended to continue service in Michigan.

How does CVS Health improve access to healthcare?

CVS Health improves healthcare access through its extensive retail network, digital channels, and comprehensive health insurance plans, addressing various health and wellness needs.

CVS HEALTH CORPORATION

NYSE:CVS

CVS Rankings

CVS Stock Data

72.91B
1.26B
0.12%
83.05%
1.65%
Healthcare Plans
Retail-drug Stores and Proprietary Stores
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United States of America
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