Cvs Health Corp Stock Price, News & Analysis

CVS Health reported a strong performance for Q1 2021, with total revenues of $69.1 billion, a 3.5% increase year-over-year. The company achieved a GAAP diluted EPS of $1.68, up 9.8% from last year. Adjusted EPS also rose to $2.04, reflecting a 6.8% growth. The firm raised its full-year GAAP diluted EPS guidance to $6.24-$6.36 and Adjusted EPS to $7.56-$7.68. Notably, cash flow from operations reached $2.9 billion. CEO Karen S. Lynch emphasized the company's commitment to enhancing care delivery amidst ongoing recovery from the pandemic.

CVS Health has launched initiatives to enhance women's health during May, providing no-cost heart health screenings at MinuteClinic locations from May 9 to May 15. This effort aims to address the significant risk of heart disease among women. Additionally, CVS Pharmacy is offering discounts on women's wellness products through May 22. The company is also supporting the American Heart Association's Go Red for Women movement, raising nearly $20 million since 2017. These initiatives underline CVS Health's commitment to personalized women's health care.

CVS Health has announced the expansion of its no-cost community screening program, Project Health, into 14 new metro markets. This initiative aims to provide crucial health screenings to underserved populations, marking the program's 16th year. CVS will host over 1,700 events across 32 metro areas by December. The expansion follows a $600 million commitment to tackle inequality affecting marginalized communities. Project Health has offered more than $134 million in healthcare services since 2006, focusing on preventive care for chronic conditions.

CVS Health has launched CVS Health Ventures, a corporate venture capital fund with an initial allocation of $100 million. The fund aims to invest in early-stage companies focused on enhancing accessibility and affordability in healthcare. CVS Health has previously made over 20 direct investments, yielding strong returns. The initiative aims to foster partnerships and accelerate innovation in digital healthcare, aligning with CVS's goal to provide better health experiences for consumers.

CVS Health announced on April 21, 2021, that its MinuteClinic is now offering Video Visits for patients in Alaska. This telehealth service is available 24/7 and can be accessed via mobile devices or computers. Video Visits provide a convenient option for routine health care and COVID-19 screenings, especially for residents without physical MinuteClinic locations in Alaska. Each session costs $59, with most Aetna plans covering the visit. Collaborating with Teladoc, the service matches patients with licensed providers to ensure quality care.

CVS Health Corporation (CVS) will conduct a conference call on May 4, 2021, at 8:00 a.m. ET, to discuss its first quarter financial results for 2021. The call will be accessible via an audio webcast on the company's Investor Relations website, which will also archive the event for a year. CVS Health emphasizes its diversified model and commitment to improving health care accessibility and affordability, reaching one in three Americans annually through innovative services, including HealthHUB locations.

CVS Pharmacy has introduced three new over-the-counter COVID-19 testing options available in-store and online as of April 19, 2021. The tests include the Ellume COVID-19 Home Test for $38.99, the Abbott BinaxNOW COVID-19 Antigen Self-Test for $23.99, and the Pixel by Labcorp PCR Test Home Collection Kit. All have received FDA Emergency Use Authorization and provide easy access to testing, enhancing CVS Health's commitment to COVID-19 response. The tests are available nationwide with no insurance coverage.

CVS Health will begin administering COVID-19 vaccines at 16 locations in Arkansas starting April 14, 2021. This initiative, part of the company's broader effort to enhance vaccine accessibility, allows eligible individuals—including K-12 teachers and childcare workers—to receive vaccinations. Appointments can be booked via CVS.com or the CVS app, with no cost for insured patients and those uninsured through federal programs. The company expects to administer vaccines at over 6,000 locations nationwide, aiming for a capacity of 25 million shots per month.