CVS Stock Recent News

Earnings season presents buying opportunities for stocks that have experienced a dip in price after reporting Q1 earnings. Enterprise Products Partners offers a 7% yield and has strong fundamentals, including a well-covered distribution and positive outlook. CVS Health has a 5% yield and has been punished for higher medical utilization, but its pharmacy business is producing steadily growing results.

Major U.S. equities indexes were mixed as the Federal Open Market Committee (FOMC) wrapped up its latest policy meeting, announcing it would maintain the federal funds rate at the decades-long high where it has remained since last July.

The volatile consumer healthcare sector showed up big in CVS' Q1 earnings Wednesday (May 1), with solid revenue from its store operations but a warning about revenue projections due to its foray into the insurance sector.  By the numbers, CVS Health reported first-quarter revenues of approximately $88 billion, marking a 4% increase year-over-year.

CVS Health Corp (NYSE:CVS) shares tanked after the pharmacy chain downwardly revised its full-year profit 2024 guidance amid rising medical costs in its Medicare insurance business.   The company is now expected to report adjusted earnings per share (EPS) of at least $7, down from its prior guidance of at least $8.30 and below the Wall Street estimate of $8.31.

CVS faced higher-than-expected costs in its insurance business. Lower Medicare Advantage reimbursement rates are expected to weigh on its performance.

CVS Health's (CVS) Q1 performance is impacted by a decline in the Health Services segment due to continued pharmacy client price improvements.

CVS Health came up short of Q1 earnings estimates and slashed its full-year outlook as medical costs surged. Here's what you need to know.

CVS Health Corporation (NYSE:CVS ) Q1 2024 Earnings Conference Call May 1, 2024 8:00 AM ET Company Participants Karen Lynch - President, Chief Executive Officer Tom Cowhey - Chief Financial Officer David Falkowski - Executive Vice President, Chief Compliance Officer Brian Kane - Executive Vice President, President, Aetna Mike Pykosz - Executive Vice President, President of Health Care Delivery Larry McGrath - Senior Vice President of Business Development, Investor Relations Conference Call Participants Justin Lake - Wolfe Research Lisa Gill - J.P. Morgan Nathan Rich - Goldman Sachs Stephen Baxter - Wells Fargo Michael Cherny - Leerink Partners Josh Raskin - Nephron Research Elizabeth Anderson - Evercore ISI Ann Hynes - Mizuho Securities Operator Hello and welcome to today's CVS Health Q1 2024 Earnings Conference Call.

The shares of CVS Health Corp (NYSE:CVS) are plummeting today, down 18% at $55.55 at last glance and earlier as low as $54.04.

The headline numbers for CVS Health (CVS) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.