CVS Health Corporation provides health services in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services. It serves employers, insurance companies, unions, government employee groups, health plans, prescription drug plans, Medicaid managed care plans, plans offered on public health insurance and private health insurance exchanges, other sponsors of health benefit plans, and individuals. This segment operates retail specialty pharmacy stores; and specialty mail order, mail order dispensing, and compounding pharmacies, as well as branches for infusion and enteral nutrition services. Its Retail/LTC segment sells prescription and over-the-counter drugs, consumer health and beauty products, and personal care products; and provides health care services through its MinuteClinic walk-in medical clinics. This segment also distributes prescription drugs; and provides related pharmacy consulting and other ancillary services to chronic care facilities and other care settings. As of December 31, 2020, it operated approximately 9,900 retail locations and 1,100 MinuteClinic locations, as well as online retail pharmacy websites, LTC pharmacies, and onsite pharmacies. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates. The company was formerly known as CVS Caremark Corporation and changed its name to CVS Health Corporation in September 2014. CVS Health Corporation was founded in 1963 and is headquartered in Woonsocket, Rhode Island.
IPO Year:
Exchange: NYSE
Website: cvshealth.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
5/30/2024 | $61.00 | Neutral | Robert W. Baird |
5/7/2024 | $99.00 → $59.00 | Buy → Hold | TD Cowen |
5/2/2024 | $85.00 → $60.00 | Buy → Neutral | UBS |
5/1/2024 | Overweight → Neutral | Cantor Fitzgerald | |
5/1/2024 | $87.00 → $60.00 | Outperform → Market Perform | Leerink Partners |
3/6/2024 | $78.00 | Equal Weight | Barclays |
2/26/2024 | $88.00 | Outperform | Leerink Partners |
12/22/2023 | $94.00 | Buy | HSBC Securities |
9/19/2023 | $81.00 → $83.00 | In-line → Outperform | Evercore ISI |
9/12/2023 | $80.00 | Peer Perform → Outperform | Wolfe Research |
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First Quarter Highlights Total revenues increased to $88.4 billion, up 3.7% compared to prior yearGAAP diluted EPS of $0.88 and Adjusted EPS of $1.31Generated cash flow from operations of $4.9 billion2024 Full-Year Guidance Revised GAAP diluted EPS guidance to at least $5.64 from at least $7.06Revised Adjusted EPS guidance to at least $7.00 from at least $8.30Revised cash flow from operations guidance to at least $10.5 billion from at least $12.0 billionCEO Commentary"The current environment does not diminish our opportunities, enthusiasm, or the long-term earnings power of our company. We are confident we have a pathway to address our near-term Medicare Advantage challenges. We remain commi
WOONSOCKET, R.I., April 1, 2024 /PRNewswire/ -- CVS Health (NYSE:CVS) will hold a conference call with analysts and investors on Wednesday, May 1st, 2024, at 8:00 a.m. ET to discuss first quarter 2024 financial results. An audio webcast of the event will be broadcast simultaneously on the Investor Relations portion of the CVS Health website at investors.cvshealth.com where it will be archived for a period of one year. About CVS HealthCVS Health® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and over 300,000 dedicated colleagues — including mo
WOONSOCKET, R.I., March 21, 2024 /PRNewswire/ -- CVS Health (NYSE:CVS) has announced that its board of directors has approved a quarterly dividend of sixty-six and one-half cents ($0.665 cents) per share on the Common Stock of the Corporation. The dividend is payable on May 1, 2024, to holders of record on April 22, 2024. About CVS Health CVS Health® is the leading health solutions company, broadening access to care for millions of people nationwide. We improve the health of communities across America through our local presence, digital channels and with over 300,000 dedicated colleagues – including more than 40,000 physicians, pharmacists, nurses, and nurse practitioners. We support individ
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "a" (Excellent) of Aetna Life Insurance Company (ALIC) (Hartford, CT) and the other members of Aetna Health & Life Group, which are operating entities of Aetna Inc. (Aetna) and wholly owned subsidiaries of CVS Health Corporation (CVS Health) (NYSE:CVS). The outlook of the FSR is stable, while the outlook of the Long-Term ICR is positive. (Please see below for a detailed listing of the companies.) Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of "a" (Excellent) of Allina Health and Aetna Insurance Company (Allina Health) (
WOONSOCKET, R.I., Feb. 7, 2024 /PRNewswire/ -- CVS Health Corporation (NYSE:CVS) today announced operating results for the three months and year ended December 31, 2023. FOURTH QUARTER HIGHLIGHTS Total revenues increased to $93.8 billion, up 11.9% compared to prior yearGAAP diluted EPS of $1.58 and Adjusted EPS of $2.12KEY FINANCIAL DATA Three Months Ended December 31, In millions, except per share amounts 2023 2022 Change Total revenues $ 93,813 $ 83,846 $ 9,967 Operating income 3,373 3,659 (286) Adjusted operating income (1) 4,227 4,079 148 Diluted earnings per share $ 1.58 $ 1.77 $ (0.19) Adjusted EPS (2) $ 2.12 $ 2.04 $ 0.08 FULL-YEAR HIGHLIG
WOONSOCKET, R.I., Jan. 12, 2024 /PRNewswire/ -- CVS Health® (NYSE:CVS) will hold a conference call with analysts and investors on Wednesday, February 7, 2024, at 8:00 a.m. ET to discuss fourth quarter and full year 2023 financial results. An audio webcast of the event will be broadcast simultaneously on the Investor Relations portion of the CVS Health website at investors.cvshealth.com where it will be archived for a period of one year. About CVS HealthCVS Health® is the leading health solutions company, broadening access to care for millions of people nationwide. We improve the health of communities across America through our local presence, digital channels and with over 300,000 dedicated
Introduces CVS CostVantageTM and CVS Caremark TrueCostTM to drive aligned incentives and deliver a more transparent and sustainable reimbursement modelLaunches CVS HealthspireTM brand for Health Services segment that simplifies access to multi-payor capabilities, better aligns client service, and drives better outcomes and greater lifetime member valueDemonstrates ability to unlock value across superior assets including CVS Caremark®, Aetna®, and CVS Pharmacy® businessesAnnounces quarterly dividend of sixty-six and a half cents ($0.665 cents) per share, an approximate 10% increaseReiterates 2023 financial guidance and initiates 2024 projections, outlining achievable long-term growth expectat
WOONSOCKET, R.I., Oct. 3, 2023 /PRNewswire/ -- CVS Health® (NYSE:CVS) will hold a conference call with analysts and investors on Wednesday, November 1, 2023, at 8:00 a.m. ET to discuss third quarter 2023 financial results. An audio webcast of the event will be broadcast simultaneously on the Investor Relations portion of the CVS Health website at investors.cvshealth.com where it will be archived for a period of one year. About CVS Health CVS Health® is the leading health solutions company, broadening access to care for millions of people nationwide. We improve the health of communities across America through our local presence, digital channels and with over 300,000 dedicated colleagues – in
WOONSOCKET, R.I., Sept. 21, 2023 /PRNewswire/ -- CVS Health (NYSE:CVS) has announced that its board of directors has approved a quarterly dividend of sixty and a half cents ($0.605 cents) per share on the Common Stock of the Corporation. The dividend is payable on November 1, 2023, to holders of record on October 20, 2023. About CVS HealthCVS Health® is the leading health solutions company, broadening access to care for millions of people nationwide. We improve the health of communities across America through our local presence, digital channels and with over 300,000 dedicated colleagues – including more than 40,000 physicians, pharmacists, nurses, and nurse practitioners. We support individ
WOONSOCKET, R.I., Aug. 2, 2023 /PRNewswire/ -- CVS Health Corporation® (NYSE:CVS) today announced operating results for the three months ended June 30, 2023. Second quarter highlights Total revenues increased to $88.9 billion, up 10.3% compared to prior yearGAAP diluted EPS of $1.48 and Adjusted EPS of $2.21Key financial data Three Months Ended June 30, In millions, except per share amounts 2023 2022 Change Total revenues $ 88,921 $ 80,636 $ 8,285 Operating income 3,234 4,669 (1,435) Adjusted operating income (1) 4,481 5,002 (521) Diluted earnings per share $ 1.48 $ 2.29 $ (0.81) Adjusted EPS (2) $ 2.21 $ 2.53 $ (0.32) Year-to-date highlights Total r
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Robert W. Baird initiated coverage of CVS Health with a rating of Neutral and set a new price target of $61.00
TD Cowen downgraded CVS Health from Buy to Hold and set a new price target of $59.00 from $99.00 previously
UBS downgraded CVS Health from Buy to Neutral and set a new price target of $60.00 from $85.00 previously
Cantor Fitzgerald downgraded CVS Health from Overweight to Neutral
Leerink Partners downgraded CVS Health from Outperform to Market Perform and set a new price target of $60.00 from $87.00 previously
Barclays initiated coverage of CVS Health with a rating of Equal Weight and set a new price target of $78.00
Leerink Partners initiated coverage of CVS Health with a rating of Outperform and set a new price target of $88.00
HSBC Securities initiated coverage of CVS Health with a rating of Buy and set a new price target of $94.00
Evercore ISI upgraded CVS Health from In-line to Outperform and set a new price target of $83.00 from $81.00 previously
Wolfe Research upgraded CVS Health from Peer Perform to Outperform and set a new price target of $80.00
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ExtraCare® is now one easy savings membership with two tiers WOONSOCKET, R.I., Jan. 4, 2024 /PRNewswire/ -- CVS Pharmacy®, the retail division of CVS Health® (NYSE:CVS), today announced the evolution of its loyalty program to include two membership tiers: ExtraCare® and ExtraCare Plus™. ExtraCare: The popular, no-fee loyalty program through which members can save hundreds of dollars1 through sale prices, email, and text personalized Deals For You, 2% back in ExtraBucks Rewards® and more, is now simpler and more valuable. ExtraCare will now include benefits previously found wit
American International Group, Inc. (NYSE:AIG) today announced that Roshan Navagamuwa will be joining AIG in December and has been named EVP and Chief Information Officer, effective January 1, 2024. Mr. Navagamuwa will report to Peter Zaffino, AIG Chairman & Chief Executive Officer, and serve on AIG's Executive Leadership Team. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231114592675/en/Roshan Navagamuwa (Photo: Business Wire) As Chief Information Officer, Mr. Navagamuwa will be responsible for AIG's global technology and cybersecurity strategy, managing core infrastructure, technology partnerships and process engineering effo
WOONSOCKET, R.I., Sept. 21, 2023 /PRNewswire/ -- CVS Health Corporation (NYSE:CVS) has appointed Michael F. Mahoney, Chairman and CEO of Boston Scientific Corporation (NYSE:BSX), a global medical technology leader, to serve on the Board of Directors (the "Board") of CVS Health, effective November 1. "Mike's focus throughout his career – to drive improvements in health outcomes and increase access to care – align with our mission at CVS Health," said CVS Health President and CEO Karen S. Lynch. "Adding a well-respected health care leader to our Board demonstrates our continued
WOONSOCKET, R.I., July 20, 2023 /PRNewswire/ -- CVS Health® Corporation (NYSE:CVS) has appointed J. Scott Kirby, CEO of United Airlines Holdings, Inc., to serve on the Board of Directors (the "Board") of CVS Health, effective October 1. "Scott is a strategic leader adept at innovating through technology in a highly regulated, consumer driven industry," said CVS Health President and CEO Karen S. Lynch. "His insights will be a tremendous asset to our Board and will help us advance our technology-forward approach to improving consumer health." Kirby joined United Airlines as pres
Board Appointments Support the Company's Previously Announced Board Transition Plan Enhabit, Inc. (NYSE:EHAB) ("Enhabit" or the "Company"), a leading national home health and hospice provider, today announced an agreement with Cruiser Capital Advisors LLC ("Cruiser") and Harbour Point Capital Management LP ("Harbour Point" ), which collectively own approximately 4.7% of the outstanding shares of Enhabit's common stock, pursuant to which Enhabit has appointed Stuart McGuigan and Barry Schochet to its board of directors, effective immediately. With these appointments the Company's board will expand temporarily to 13 directors. As Enhabit previously disclosed in May 2022 ahead of the complet
WOONSOCKET, R.I., Oct. 6, 2022 /PRNewswire/ -- CVS Health® (NYSE:CVS) today announced it has appointed Dr. Amar Desai as President, Health Care Delivery, effective October 17. He will lead the newly formed Health Care Delivery organization, overseeing implementation of key areas of the company's health services and care delivery strategy. "This new organization will leverage the strength of the CVS Health portfolio to develop and implement payor-agnostic products and services," said CVS Health President and CEO Karen S. Lynch. "Amar's deep background in clinical delivery and v
WOONSOCKET, R.I., Sept. 13, 2022 /PRNewswire/ -- CVS Health® (NYSE:CVS) has appointed Jeffrey R. Balser, M.D., Ph.D., to serve on the Board of Directors (the "Board") of CVS Health, effective immediately. He has also been named to the Board's Medical Affairs Committee. "Dr. Balser's extensive experience in a wide range of roles across health care organizations will be an invaluable asset for the Board," said CVS Health President and CEO Karen S. Lynch. "His deep clinical expertise and leadership of a prestigious health system gives him the insight to help support our strategy
Additional funding brings Series D round to $320M totalTrevor Fetter, MBA, senior lecturer on the faculty of Harvard Business School and former longtime Tenet Healthcare chairman and CEO, named to BoardSachin H. Jain, physician executive with government, pharmaceutical, payer and provider experience, joins BoardBOSTON, Aug. 10, 2022 /PRNewswire/ -- Biofourmis, a Boston-based global leader in virtual care and digital medicine, today announced that Intel Capital, the strategic investment arm of chipmaker Intel Corporation, has joined its Series D financing in an extension that brings the total funding raised in the round to $320M. The initial Series D funding round was announced in April and w
Scipher Medicine, a precision immunology company matching patients with their most effective medication therapies, today announced the appointment of Sam Asgarian, M.D., MBA, as chief medical officer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211116006301/en/Sam Asgarian, M.D., MBA, Scipher Medicine, Chief Medical Officer (Photo: Business Wire) "We are thrilled to welcome Dr. Asgarian to our leadership team," said Alif Saleh, chief executive officer of Scipher Medicine. "His strong blend of experience as a health care clinician and business leader will serve us well as we pursue our critical mission." Dr. Asgarian joins Sci
– Company Welcomes Experienced Fortune 5 Executive to Support Growth Plans – Evolv Technology (NASDAQ:EVLV), the global leader in weapons detection security screening, today announced the appointment of Mario Ramos to the position of Chief Financial Officer effective November 1, 2021. Mr. Ramos will assume global responsibility for the Company's accounting, finance, risk compliance, information technology and investor relations functions. Mr. Ramos joins Evolv Technology from Edelman Financial Engines where he served as Executive Vice President, Chief Financial Officer and Chief Risk Officer. Edelman Financial Engines is the nation's top independent financial planning and investment manag
WOONSOCKET, R.I., May 20, 2024 /PRNewswire/ -- CVS Health® (NYSE:CVS) today announced that President and CEO Karen S. Lynch and Executive Vice President and Chief Financial Officer Tom Cowhey will participate in a fireside chat with investors at the Bernstein 40th Annual Strategic Decisions Conference on May 29, 2024, at approximately 10:00 am ET. An audio webcast of the event will be broadcast simultaneously on the Investor Relations portion of the CVS Health website at investors.cvshealth.com where it will be archived for a period of one year. About CVS Health CVS Health® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the hea
WOONSOCKET, R.I., May 16, 2024 /PRNewswire/ -- CVS Pharmacy® (NYSE:CVS), the retail division of CVS Health®, today announced the launch of Well Market™, a new store brand consumables line featuring snacks, beverages and groceries. "Our goal at CVS Health is to be the most consumer-centric health care solutions company. Through this repositioning and expansion of our food and beverage portfolio, we are doing more by providing new nutritious options our customers crave," said Musab Balbale, Chief Merchandising Officer, CVS Health. "From the easy-to-understand packaging to the de
WOONSOCKET, R.I., May 7, 2024 /PRNewswire/ -- CVS Health (NYSE:CVS) today announced that Chief Financial Officer Tom Cowhey will participate in a fireside chat with investors at the Bank of America 2024 Healthcare Conference on May 14, 2024, at approximately 7:20 a.m. pacific time. An audio webcast of the event will be broadcast simultaneously on the Investor Relations portion of the CVS Health website at investors.cvshealth.com where it will be archived for a period of one year. About CVS HealthCVS Health® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digita
First Quarter Highlights Total revenues increased to $88.4 billion, up 3.7% compared to prior yearGAAP diluted EPS of $0.88 and Adjusted EPS of $1.31Generated cash flow from operations of $4.9 billion2024 Full-Year Guidance Revised GAAP diluted EPS guidance to at least $5.64 from at least $7.06Revised Adjusted EPS guidance to at least $7.00 from at least $8.30Revised cash flow from operations guidance to at least $10.5 billion from at least $12.0 billionCEO Commentary"The current environment does not diminish our opportunities, enthusiasm, or the long-term earnings power of our company. We are confident we have a pathway to address our near-term Medicare Advantage challenges. We remain commi
Staff specialists to provide comprehensive skills training and job placement, as well as wraparound health care services BATON ROUGE, La., April 25, 2024 /PRNewswire/ -- CVS Health® (NYSE:CVS) today announced the opening of a new workforce development and community resource center designed to help the Baton Rouge community overcome employment barriers and increase access to local health care services. Located at 5353 Essen Lane, the facility includes a Workforce Innovation & Talent Center (WITC), which offers comprehensive career skills training and job placement that include
BOCA RATON, Fla., April 23, 2024 /PRNewswire/ -- Baum Family Investments (BFI) proudly announces its official debut in the real estate investment landscape. With over fifteen years of expertise in triple net leased investments and the backing of prominent family offices in Detroit, Miami, and New York, BFI enters the market poised for success. Led by Aaron Baum, a seasoned investor and capital manager with a track record of advising, brokering, and acquiring over $175,000,0000 in net leased real estate nationwide, BFI is set to continue its legacy of success. Notable investmen
SOUTHFIELD, Mich., April 9, 2024 /PRNewswire/ -- Aetna Better Health of Michigan, a CVS Health® company (NYSE:CVS), has been recommended by the Michigan Department of Health and Human Services to continue serving Medicaid and CHIP beneficiaries under a new Comprehensive Health Care Program (CHCP) contract. "We're committed to helping improve the health and wellbeing of members, their families and communities in Michigan," said Mark Santos, President, Aetna Medicaid. "We're pleased with this win and the opportunity to continue working with the State to provide access to coordin
Investing in the future of community pharmacy helps ease students' financial barriers and challenges, and promotes a stable and inclusive pharmacy workforce pipeline WOONSOCKET, R.I., April 3, 2024 /PRNewswire/ -- To support the next generation of pharmacists, CVS Health® (NYSE:CVS) today announced two new offerings for pharmacy students: an enhanced PharmD tuition assistance program for eligible CVS Pharmacy® interns and a new scholarship for students enrolled in pharmacy schools nationwide. The CVS Health PharmD tuition assistance program is available to all eligible CVS Pha
WOONSOCKET, R.I., April 1, 2024 /PRNewswire/ -- CVS Health (NYSE:CVS) will hold a conference call with analysts and investors on Wednesday, May 1st, 2024, at 8:00 a.m. ET to discuss first quarter 2024 financial results. An audio webcast of the event will be broadcast simultaneously on the Investor Relations portion of the CVS Health website at investors.cvshealth.com where it will be archived for a period of one year. About CVS HealthCVS Health® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and over 300,000 dedicated colleagues — including mo
WOONSOCKET, R.I., March 21, 2024 /PRNewswire/ -- CVS Health (NYSE:CVS) has announced that its board of directors has approved a quarterly dividend of sixty-six and one-half cents ($0.665 cents) per share on the Common Stock of the Corporation. The dividend is payable on May 1, 2024, to holders of record on April 22, 2024. About CVS Health CVS Health® is the leading health solutions company, broadening access to care for millions of people nationwide. We improve the health of communities across America through our local presence, digital channels and with over 300,000 dedicated colleagues – including more than 40,000 physicians, pharmacists, nurses, and nurse practitioners. We support individ
Bitcoin (CRYPTO: BTC) analyst Ali Martinez has recently shared insights on the current state of the cryptocurrency market, suggesting that the recent price action could continue. What Happened: Martinez, who is known for his analysis of on-chain and technical indicators, took to X to share his observations. Despite the recent market turbulence, Martinez pointed out that only $280.9 million in longs and $25.4 million in shorts have been liquidated. He noted that previous mass liquidation events have seen over $1 billion wiped out. “This tells us either the $BTC dip is not over yet or shorts are about to get obliterated,” Martinez wrote. #Bitcoin price action has been brutal, but on
Whales with a lot of money to spend have taken a noticeably bullish stance on CVS Health. Looking at options history for CVS Health (NYSE:CVS) we detected 19 trades. If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 42% with bearish. From the overall spotted trades, 5 are puts, for a total amount of $229,723 and 14, calls, for a total amount of $798,685. Expected Price Movements Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $32.5 to $100.0 for CVS Health during the past quarter. Analyzing Volume & Open Interest Looking at the
CVS Health's (NYSE:CVS) short percent of float has risen 17.02% since its last report. The company recently reported that it has 20.64 million shares sold short, which is 1.65% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.75 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is
A U.S. bankruptcy judge has approved Rite Aid Corp’s (OTC:RADCQ) restructuring plan, enabling the pharmacy chain to reduce its debt by $2 billion and transfer control to a group of lenders. Rite Aid filed for Chapter 11 bankruptcy in October 2023, following a fiscal year in which it reported $750 million in losses and $24 billion in revenue. During the bankruptcy process, Rite Aid closed hundreds of stores, sold its pharmacy benefit company Elixir, and negotiated settlements with lenders, including its drug distribution partner McKesson Corp (NYSE:MCK) and other creditors. Also Read: Rite Aid Forges Path To Financial Recovery With Major Settlement: Report. Reuters noted the restr
During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout. Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Below are the ratings of the most accurate analysts for three high-yielding stocks in the health care sector. Gilead Sciences, Inc. (NASDAQ:GILD) Dividend Yield: 4.47% Baird analyst Brian Skorney m
Walgreens expects to close a “significant” number of stores in the face of “headwinds,” but the pharmacy chain has not specified how many retail locations it plans to shutter. Parent company Walgreen Boots Alliance, Inc. (NASDAQ:WBA) announced the plan to close an undisclosed number of its roughly 8,700 stores on Thursday when it released earnings for this year’s third quarter. The Deerfield, Illinois-based retailer said it was “finalizing [a] significant multiyear footprint optimization program to close certain underperforming U.S. stores” as part of an update to a strategic review outlined in its earnings release. Walgreens did not make further mention of the planned closures in t
CVS Health Corp (NYSE:CVS) shares are getting crushed because of the terrible earnings report from Walgreens Boot Alliance. Inc. (NASDAQ:WBA). Some investors fear CVS may experience some of the same issues that drove Walgreens lower. It isn't a coincidence CVS found support right around the important $57.60 level. And it’s not surprising either. It's an illustration of an important market dynamic that savvy traders use to profit. This is why it's our Stock of the Day. The best traders don't guess. They let the market tell them what to do. And the market “speaks” by how it reacts when an important price level has been reached. Resistance Becomes Support Price levels that had prev
Deep-pocketed investors have adopted a bullish approach towards CVS Health (NYSE:CVS), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CVS usually suggests something big is about to happen. We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for CVS Health. This level of activity is out of the ordinary. The general mood among these heavyweight investors is divided, with 55% leaning bullish and 44% bearish. Among these notable options, 6 are
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