Cvs Health Corp Stock Price, News & Analysis

CVS Health reports a 3.0% increase in total revenues for Q2 2020, reaching $65.3 billion, and a 40.5% rise in GAAP operating income to $4.7 billion. Adjusted EPS rose to $2.64, reflecting a strong response to COVID-19. The company raised its full-year GAAP diluted EPS guidance to $5.59-$5.72 and adjusted EPS to $7.14-$7.27. Significant operational efforts include over 1,800 COVID-19 test sites and the launch of Return Ready, a testing solution for businesses. Despite challenges in Retail due to pandemic-related restrictions, overall performance remained solid.

CVS Health's Aetna has launched a new initiative to tackle the maternal health crisis in the U.S., specifically targeting the prevention of preeclampsia, a condition causing significant maternal and infant mortality. This first-of-its-kind program identifies at-risk pregnant women through data analytics, providing them with personalized care kits containing low-dose aspirin and educational materials. The initiative aims to enhance prenatal care access, especially amid challenges posed by the COVID-19 pandemic, addressing alarming trends in maternal health disparities.

CVS Health (NYSE: CVS) has expanded its MinuteClinic Video Visits to Georgia, allowing residents to access telehealth services conveniently. This service is available 24/7 and is an effective option for non-emergency healthcare and COVID-19 screening. Each visit costs $59 and is covered by most Aetna plans. The partnership with Teladoc enables patients to receive quality care via a customized video experience. This initiative aims to enhance healthcare accessibility and address ongoing healthcare needs amidst the COVID-19 resurgence.

CVS Health Corporation (NYSE: CVS) will conduct a conference call with analysts and investors on August 5, 2020, at 8:00 a.m. ET to discuss its financial results for the second quarter of 2020. An audio webcast will be available on the CVS Health Investor Relations website. The webcast will be archived for one year post-call. CVS Health aims to enhance consumer-centric services through its innovative offerings and nearly 10,000 local touchpoints, demonstrating its commitment to transforming the health experience.

CVS Health announced a new policy requiring all customers to wear face coverings in its stores starting July 20, 2020, in response to a rise in COVID-19 cases. The company has consistently prioritized safety measures since the pandemic began, including mandating employee face coverings and encouraging customer compliance. CVS will not enforce this policy but urges customers to cooperate for mutual safety. More details about CVS's COVID-19 response can be found on their dedicated resource center.

CVS Health (NYSE: CVS) launched the 'Time for Care' campaign on July 15, 2020, to emphasize the importance of accessing primary health care during the COVID-19 pandemic. The initiative aims to combat health concerns resulting from delayed medical appointments, especially among those with chronic conditions. Key findings from a national survey revealed that nearly 60% of Americans delayed health appointments due to COVID-19 fears, with a significant impact on individuals with chronic conditions. CVS is also addressing health disparities in underserved communities through expanded testing efforts.

The 2020 Path to Better Health Study by CVS Health reveals significant shifts in consumer attitudes towards health care amid the COVID-19 pandemic. Consumers increasingly seek accessible, affordable, and technology-driven solutions. Notably, 48% expressed a preference for digital communication with providers, while 40% are open to virtual care for mental health. Despite this demand, 35% cite health care costs as a barrier to wellness. The study, based on surveys of 1,000 consumers and 400 providers, highlights the growing reliance on technology and the need for improved access to care.

CVS Health Corporation (NYSE: CVS) announced its board of directors has approved a quarterly dividend of $0.50 per share on common stock. This dividend will be payable on August 3, 2020, to shareholders of record on July 23, 2020. This decision reflects the company's commitment to delivering value to its shareholders while emphasizing its goal of becoming the most consumer-centric health company. CVS aims to adapt to changing consumer needs through innovative health services and community-focused initiatives.

CVS Pharmacy has launched Spoken Rx™, a groundbreaking feature in its app designed for patients with visual impairments. This first-in-kind tool allows users to have prescription label information read aloud using voice assistants like Siri or Google Assistant. By the end of 2020, 1,500 CVS locations will utilize RFID labels for this service, enhancing patient safety and adherence. Spoken Rx is free, available in English and Spanish, and aims to improve accessibility across CVS Pharmacy locations by the end of 2021, fostering better independence for visually impaired customers.