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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 highlights path to accelerating long-term growth through building a world of health around every consumer

Rhea-AI Summary
CVS Health (NYSE: CVS) introduces CVS CostVantageTM and CVS Caremark TrueCostTM to drive aligned incentives and deliver a more transparent and sustainable reimbursement model. The company also launches CVS HealthspireTM brand for Health Services segment, reiterates 2023 financial guidance, and initiates 2024 projections, outlining achievable long-term growth expectations with clear opportunities to outperform.
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Ohio Officials, CMHA, 360º Management, and CVS Health Announce Opening of Supportive Housing Community for Human Trafficking Survivors

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CVS Health (NYSE: CVS) partners with Columbus Metropolitan Housing Authority, Beacon 360 Management, and community leaders to open Harriet's Hope, a 52-unit, multifamily supportive housing community for human trafficking survivors in Ohio. The $15.6 million property is made possible through CVS Health's $10.6 million investment, facilitated by the Ohio Capital Corporation for Housing. The initiative aims to provide survivors with a safe space for healing and recovery, addressing the state's mission to end labor and sex trafficking statewide.
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AIG Appoints Roshan Navagamuwa as Executive Vice President and Chief Information Officer

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AIG: Roshan Navagamuwa Named EVP and Chief Information Officer, John Repko to Step Down. Roshan Navagamuwa joins AIG as EVP and Chief Information Officer, effective January 1, 2024. He will oversee AIG’s global technology and cybersecurity strategy, core infrastructure, and cloud strategy. John Repko, the current CIO, will transition to a Senior Advisor role. Navagamuwa brings experience from CVS Health and Aon's Global IT division.
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CVS Health to hold Investor Day on December 5, 2023

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CVS Health (NYSE: CVS) will hold its Investor Day on December 5th, 2023, in Boston, MA, where management will discuss the Company's strategy and provide financial guidance for 2023 and 2024.
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CVS Health reports third quarter results

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CVS Health Corporation reports third quarter operating results with total revenues of $89.8 billion, up 10.6% compared to the prior year. GAAP diluted EPS is $1.75 and Adjusted EPS is $2.21. Full-year guidance is revised for GAAP diluted EPS to $6.37 to $6.61 and confirmed for Adjusted EPS at $8.50 to $8.70.
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Aetna CVS Health to enter the Affordable Care Act (ACA) individual insurance exchange marketplace in Maryland for January 1, 2024

Rhea-AI Summary
Aetna, a CVS Health company, is entering the individual insurance exchange marketplace in Maryland with its Aetna CVS Health co-branded insurance product. Enrollment begins on November 1 at www.aetnacvshealth.com. The plans combine the quality health insurance coverage of Aetna with affordable care options at CVS Pharmacy and MinuteClinic locations. New benefits for 2024 include 20% off CVS Health brand items with the Aetna CVS Health ID card.
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Aetna CVS Health to enter the Affordable Care Act (ACA) individual insurance exchange marketplace in Ohio for January 1, 2024

Rhea-AI Summary
Aetna, a CVS Health company, is entering the individual insurance exchange marketplace in Ohio with its Aetna CVS Health co-branded insurance product. Enrollment begins November 1 at www.aetnacvshealth.com. The plans combine the quality health insurance coverage of Aetna with access to Aetna's network of doctors and hospitals, as well as affordable care features at CVS Pharmacy locations. New benefits for 2024 include a $100 annual allowance for over-the-counter CVS Health brand products and 20% off CVS Health brand items with the Aetna CVS Health ID card.
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Aetna CVS Health to enter the Affordable Care Act (ACA) individual insurance exchange marketplace in Indiana for January 1, 2024

Rhea-AI Summary
Aetna, a CVS Health company, is entering the individual insurance exchange marketplace in Indiana with its Aetna CVS Health co-branded insurance product. Enrollment begins on November 1, 2023, and the plans combine the quality health insurance coverage of Aetna with affordable care options at CVS Pharmacy and MinuteClinic locations. Starting January 1, 2024, subscribers will have up to a $100 annual allowance for over-the-counter CVS Health brand products. Members can also obtain 20% off CVS Health brand items at CVS with their ID card.
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Aetna CVS Health to enter the Affordable Care Act (ACA) individual insurance exchange marketplace in Kansas for January 1, 2024

Rhea-AI Summary
Aetna, a CVS Health company, is entering the individual insurance exchange marketplace in Kansas with its Aetna CVS Health co-branded insurance product. Enrollment begins on November 1, offering affordable access to health care for Kansas residents. The plans combine Aetna's quality health insurance coverage with access to Aetna's network of doctors and hospitals, as well as affordable care options at CVS Pharmacy locations.
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Allina Health | Aetna Awarded 4.5 Star Quality Rating for 2024 Medicare Advantage Plans

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Allina Health | Aetna earns 4.5 Star Quality Rating for its 2024 Medicare Advantage plans
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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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