Cvs Health Corp Stock Price, News & Analysis

CVS Health (NYSE: CVS) will raise its minimum enterprise hourly wage to $15 starting July 2022, marking a over 60% increase since 2018. The change affects approximately 35% of hourly employees, as 65% already earn more than $15. This initiative aims to enhance employee retention and attract talent, aligning with CVS’s commitment to workforce development. Additional increases for certain roles will be implemented, and hiring barriers such as high school diploma requirements are being removed to improve job accessibility.

CVS Health Corporation (NYSE: CVS) reported strong second-quarter results for 2021, with total revenues reaching $72.6 billion, an increase of 11.1% year-over-year. GAAP diluted EPS was $2.10 and adjusted EPS was $2.42. Year-to-date revenues also saw a rise, totaling $141.7 billion, marking a 7.3% increase. The company has raised its full-year GAAP diluted EPS guidance to $6.35 to $6.45 and adjusted EPS guidance to $7.70 to $7.80. Operational highlights included significant growth in pharmacy claims and COVID-19 vaccinations.

CVS Health Corporation (CVS) will host a conference call on August 4, 2021, at 8:00 a.m. ET to discuss its second-quarter financial results for 2021. The call will be accessible via an audio webcast on the CVS Health Investor Relations website.

This event aims to provide insights into CVS's performance and future outlook in a changing healthcare landscape, reflecting its commitment to accessibility and affordability in health services.

CVS Health has launched MinuteClinic Video Visits in Nevada, extending its telehealth services available 24/7 in 49 states and Washington, DC. This service allows patients to receive non-emergency health care via video calls, offering COVID-19 screenings and treatment for minor illnesses and injuries. Each session costs $59 and is designed for those without insurance, while most Aetna plans cover it. The service uses technology from Teladoc, connecting patients with board-certified providers licensed in their state for quality, evidence-based care.

CVS Health Corporation (NYSE: CVS) has declared a quarterly dividend of $0.50 per share on its Common Stock. This dividend will be paid on August 2, 2021, to stockholders on record as of July 23, 2021. CVS Health emphasizes its commitment to enhancing healthcare accessibility and affordability through innovative services and community presence, all aimed at improving overall health outcomes.

On June 29, 2021, U.S. News & World Report, in partnership with the Aetna Foundation, published its fourth annual Healthiest Communities rankings. The top five communities, led by Los Alamos County, New Mexico, excelled in metrics such as housing, population health, and infrastructure. The rankings include insights into COVID-19 vaccine rates and discuss equity issues affecting health outcomes. The initiative is part of a $100 million commitment by CVS Health to enhance community health.

CVS Pharmacy announced a major update to its ExtraCare Rewards program, transitioning to a 2% back rewards system delivered immediately after transactions instead of quarterly. Starting July, members will see rewards in the CVS App and on receipts, enhancing user experience. Additionally, the program introduces a birthday benefit for its 74 million members, offering $3 in ExtraBucks Rewards. Enhanced app functionality allows users to track rewards conveniently. Special freebies will be available through the app throughout late June and July, celebrating these changes.

Aetna, part of CVS Health (NYSE: CVS), has received approval to expand its Medicare-Medicaid Alignment Initiative (MMAI) statewide in Illinois, effective July 1, 2021. This expansion aims to provide coordinated care for dual-eligible individuals and follows extensive planning by the Illinois Department of Healthcare and Family Services in collaboration with CMS. Aetna is the sole health plan approved for the MMAI across all Illinois counties. Enrollment begins in June 2021, with passive enrollment occurring in phases for multiple cohorts.

CVS Health has launched its first MinuteClinic locations in Utah, expanding its nationwide CVS HealthHUB initiative. These clinics offer high-quality, affordable care without the need for appointments, catering to patients aged 18 months and older. The clinics provide various services, including treatment for common illnesses, wellness screenings, and telehealth options. CVS aims to enhance healthcare accessibility with these locations, which feature expanded operational hours and a broad range of health and wellness products.