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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.

News

CVS Health invests nearly $35 million in affordable housing in Hawai'i

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CVS Health announces $35 million investment in affordable housing developments in Hawai'i, partnering with local organizations to address community needs and support residents.
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CVS Health to participate at the 45nd Annual Raymond James Institutional Investors Conference

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CVS Health's CFO Tom Cowhey to participate in fireside chat at Raymond James Institutional Investors Conference on March 5, 2024.
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CVS HEALTH REPORTS FOURTH QUARTER AND FULL-YEAR 2023 RESULTS

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CVS Health Corporation (NYSE: CVS) reported strong financial results for the fourth quarter and full year ended December 31, 2023. Total revenues increased to $93.8 billion in the fourth quarter, up 11.9% compared to the prior year, and $357.8 billion for the full year, up 10.9% compared to the prior year. GAAP diluted EPS was $1.58 and Adjusted EPS was $2.12 for the fourth quarter, and $6.47 and $8.74 for the full year, respectively. The company also generated cash flow from operations of $13.4 billion. CVS Health announced a 10% increase in the quarterly shareholder dividend and returned $3.1 billion to shareholders through dividends in 2023. The company's full-year 2024 guidance was revised due to potential implications for elevated medical cost trends in 2024, with revised GAAP diluted EPS guidance to at least $7.06 and Adjusted EPS guidance to at least $8.30, along with revised cash flow from operations guidance to at least $12.0 billion.
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CVS Health adds two new renewable energy projects with Constellation

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CVS Health has announced two agreements with Constellation to purchase zero-emission, renewable energy equivalent to the annual electricity use of nearly 1,000 CVS Health locations in California, Washington, D.C., Delaware, Maryland, and New Jersey. These investments will reduce the company's carbon footprint by nearly 114,000 metric tons annually. CVS Health's commitment to sustainability is evident through its focus on renewable energy and reducing its environmental impact.
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New report from CVS Health® highlights opportunities for the future of community pharmacy

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CVS Health released a report revealing the critical role of pharmacists in providing healthcare services to patients, emphasizing the need for sustainable and scalable industry-wide change. The report also explores the need for operational improvements, digital innovations, and inspiring more individuals to choose a career in community pharmacy. Key findings from the CVS Health survey show that the majority of Americans prefer pharmacies for their healthcare needs due to their convenient locations and extended hours of operation.
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CVS Health to Hold Fourth Quarter and Full Year 2023 Earnings Conference Call

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CVS Health (NYSE: CVS) will hold a conference call to discuss fourth quarter and full year 2023 financial results on February 7, 2024, at 8:00 a.m. ET. The event will be broadcast on the Investor Relations portion of the CVS Health website and archived for a year.
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CVS Health announces leadership appointments

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CVS Health (NYSE: CVS) announces leadership updates with Thomas F. Cowhey named as Chief Financial Officer and Mike Pykosz named as President of Health Care Delivery. The company expresses confidence in the new appointments and acknowledges the departure of Shawn Guertin due to family health reasons.
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CVS Pharmacy® announces new simplified loyalty experience

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CVS Pharmacy (NYSE: CVS) announces the evolution of its loyalty program to include two membership tiers: ExtraCare and ExtraCare Plus. ExtraCare now offers benefits previously found within the ExtraCare Pharmacy & Health Rewards program, while ExtraCare Plus unlocks all the benefits of ExtraCare, plus the new convenience of free same-day delivery of nearly all products in the store in as little as three hours, and so much more.
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CVS Caremark accelerates biosimilars adoption through formulary changes

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CVS Health (NYSE: CVS) announces the expansion of biosimilars adoption, removing Humira from major national commercial formularies and covering Humira biosimilars effective April 1, 2024. The U.S. biosimilars market is projected to grow from less than $10 billion in 2022 to more than $100 billion by 2029.
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CVS Health to present at the 42nd Annual J.P. Morgan Healthcare Conference

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CVS Health (NYSE: CVS) to Participate in Fireside Chat at J.P. Morgan Healthcare Conference
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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 $54.65 as of November 4, 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.

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CVS HEALTH CORPORATION

NYSE:CVS

CVS Rankings

#183 Ranked by Market Cap
#597 Ranked by Dividends

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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