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CVS has engaged advisors in a strategic review of its business, CNBC has reported Monday. One option being weighed is splitting up its retail pharmacy and insurance units.
For the third year, CVS Pharmacy is offering 60+ allergy-friendly treats in stores and online McLEAN, Va. and WOONSOCKET, R.I.
In the high-stakes world of healthcare retail, CVS Health finds itself at a crossroads, navigating turbulent waters amid investor pressures and a stock price that seems to be on a downward spiral. As the pharmacy giant embarks on a strategic review, including possibly splitting its insurance and retail arms, CEO Karen S.
CVS Health (CVS) shares have been in the spotlight following reports that the healthcare services giant is considering separating its retail pharmacy and insurance units as it looks to improve profitability and appease investors.
In September, US companies increased hiring activity, ending a five-month slowdown in employment growth. Data from the ADP report, often called "mini non-farm payrolls," showed an increase of 143,000 jobs, surpassing economists' expectations of 125,000, while August saw the smallest gain since March 2023.
CVS Health stock (NYSE: CVS) currently trades at $65 per share, 37% below its pre-inflation shock high of $102 seen in February 2022. In contrast, its peer – Walgreens stock – is down 78% over this period, amid falling profitability.
Splitting up the company would face challenges, but there is no perfect solution to its struggles.
Glenview Capital Management, a hudge fund that has been subject of certain media reports that it was pushing CVS Health management to break up the healthcare giant, denies it is “pushing for a break-up.”
CVS Health is exploring options that could include a break-up of the company to separate its retail and insurance units, as the struggling healthcare services company looks to turn around its fortunes amid pressure from investors, people familiar with the matter told Reuters.
CVS Health (CVS) reportedly is considering a breakup of its retail pharmacies and Aetna health insurance unit amid struggling results and pressure from investors, according to Reuters and The Wall Street Journal.