CVS HEALTH CORPORATION - CVS STOCK NEWS

CVS Health reported third quarter revenues of $67.1 billion, a 3.5% increase year-over-year. GAAP diluted EPS was $0.93, down from $1.17 in the prior year, with adjusted EPS at $1.66. The company doubled COVID-19 testing sites to over 4,000, processing over six million tests. Full-year guidance for GAAP diluted EPS has been raised to $5.60–$5.70, while cash flow from operations guidance increased to $12.75–$13.25 billion.

Aetna, a CVS Health company, announced that for the seventh consecutive year, its 2021 Medicare Advantage Prescription Drug plans have outperformed the industry, with 83% of its members enrolled in plans rated 4 stars or higher by CMS, compared to 77% for the industry. The plans' ratings reflect Aetna's commitment to providing quality healthcare, particularly important during the COVID-19 pandemic. Enrollment for these plans begins on October 15, 2020, and will be effective from January 1, 2021.

CVS Health is expanding its COVID-19 testing services to include rapid-result tests at nearly 1,000 locations by year-end. They have already administered over 5 million tests since March and currently operate 4,000 drive-thru sites across 33 states and Washington, D.C. Rapid-result diagnostics will allow for quicker identification of COVID-19, helping to reduce community spread. Patients eligible for the no-cost tests must register in advance. Nearly 100 sites are set to operate this week, with testing available for ages 12 and up. More details can be found on CVS's website.

CVS Pharmacy has launched QuickRenew, an online tool for at-home contact lens prescription renewals, leveraging technology from Premium Vision. This service is aimed at improving healthcare accessibility, particularly amid the pandemic, allowing customers in 32 states to renew prescriptions quickly and order lenses online. Customers must be 18-55 and meet specific eye health criteria. Additionally, CVS Optical has introduced an online glasses store with competitive pricing, starting at $79, enhancing their digital offering and customer experience.

CVS Health will host a conference call on November 6, 2020, at 8:00 a.m. ET to discuss its third-quarter 2020 financial results. Interested parties can access the live audio webcast on the CVS Health website. The call will be archived for one year post-event. CVS Health focuses on becoming the most consumer-centric health company, with nearly 10,000 local touchpoints, and aims to transform health through innovative programs and HealthHUB® locations, creating simpler, affordable healthcare experiences.

On October 21, 2020, CVS Health announced new initiatives aimed at preventing opioid misuse amid the pandemic. The programs include a digital curriculum, "Dose of Knowledge," developed in collaboration with Discovery Education, to educate students on drug misuse. CVS Health has committed nearly $3 million in grants to local organizations for addiction treatment and prevention. Additionally, CVS is enhancing access to naloxone, offering free delivery of the overdose-reversal drug in 30 states. CVS will also participate in the National Prescription Take Back Day to promote safe medication disposal.

CVS Health (NYSE: CVS) announced plans to hire 15,000 new employees, focusing on pharmacy technicians, to address the anticipated increase in COVID-19 and flu cases this fall and winter. Over 10,000 positions will be filled at CVS Pharmacy locations, with many being temporary roles that could become permanent. This recruitment drive is part of a larger effort where CVS aims to hire 50,000 employees in response to the pandemic. Job seekers can apply online for various positions, including pharmacists and customer service representatives.

CVS Health (NYSE: CVS) announced its plan to provide COVID-19 vaccinations to long-term care facilities nationwide once the vaccine is available. With experience from administering over nine million flu shots and five million COVID tests, CVS aims to help protect vulnerable elderly populations. The company operates 3,700 drive-thru testing sites and plans to administer approximately four million COVID-19 tests monthly. CEO Larry Merlo emphasized CVS's role in combating COVID-19, showcasing its capabilities to address community health needs effectively.

CVS Health Corporation has announced a quarterly dividend of $0.50 per share, payable on November 2, 2020, to shareholders on record by October 22, 2020. This decision by the board of directors underscores the company's commitment to returning value to its investors. CVS is focused on evolving into a consumer-centric health company, leveraging nearly 10,000 local touchpoints and innovative programs designed to enhance healthcare accessibility and affordability.