Why CVS Health Stock Plunged Today [Yahoo! Finance]
CVS Health Corporation (CVS)
Last cvs health corporation earnings: 2/12 06:45 am
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Source: Yahoo! Finance
As of 12:01 p.m. ET, the stock was down 17.1%. CVS struggles with Medicare costs Total revenue rose 3.7% year over year to $88.4 billion, but that fell short of the analyst consensus of $89.2 billion. Revenue from CVS's pharmacy and consumer wellness segment was up 2.9% to $28.7 billion, while revenue in the health services, which includes its pharmacy benefit manager, slipped 9.7% to $40.3 billion. However, the main problem was in its healthcare benefits segment, where revenue rose 24.6% to $32.2 billion, but costs soared much faster due to increased Medicare utilization and a decline in the company's Medicare Advantage star ratings, which cut into its revenue from the program. The company's medical benefit ratio -- the percentage of medical premium revenue paid out as benefits -- jumped from 84.6% to 90.4%, and adjusted operating income in the segment fell from $1.82 billion in the prior-year period to $732 million this time. As a result, the company's overall adjusted earn
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CVS
News
- ROSEN, A TRUSTED AND LEADING LAW FIRM, Encourages CVS Health Corporation Investors to Inquire About Securities Class Action Investigation – CVSGlobeNewswire
- CVS Health: Secure Dividend And Upside Potential Presents Compelling Opportunity [Seeking Alpha]Seeking Alpha
- Fay Emerges with $25M in Funding to Change the Way We Think and Feel About Food [Yahoo! Finance]Yahoo! Finance
- SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against CVS Health Corporation and Encourages Investors to Contact the FirmAccesswire
- Is CVS Health's High-Yield Dividend in Danger of Being Cut? [Yahoo! Finance]Yahoo! Finance
CVS
Earnings
- 5/1/24 - Miss
CVS
Sec Filings
- 5/9/24 - Form 8-K
- 5/8/24 - Form 8-K
- 5/8/24 - Form 424B2
- CVS's page on the SEC website