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What’s going on with CVS Health Stock?

The share price of CVS Healthcare (NYSE: CVS) rose 3% yesterday after the company said it would close 900 of its stores, reflecting 9% of its total stores in the United States [1] The company will focus on adding primary care offerings to some of its existing stores and maintain traditional stores that offer prescription services. The company will also have stores offering a wider range of health services. With Amazon and Walmart venturing into the pharmacy business, there was a need for companies like CVS and Walgreens to think about their long-term strategy, and healthcare is something they are focused on. With the pandemic, there has been a shift in consumer behavior, with people preferring to fill prescriptions online and an increase in telehealth services. CVS is now looking forward to offering primary care services in more stores, and this appears to be a step in the right direction. The company will record a one-time impairment charge of just over $ 1.0 billion in the fourth quarter of this year for its planned store closings.
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What’s next for CVS Health Stock after the third trimester?

The share price of CVS Healthcare (NYSE: CVS) has seen an 11% rise in the past month, while it is up 7% in the past ten days. The recent increase can be attributed to its good third quarter results. The company’s third-quarter revenue of $ 73.8 billion was up 10% year-over-year and well above our estimate of $ 70.6 billion. The revenue growth was driven by the increase in the volume of prescriptions and by the administration of vaccination and Covid-19 tests. CVS’s net income of $ 1.97 per share and on an adjusted basis was up 19% year-on-year, and well above our estimate of $ 1.81. After a strong third quarter, CVS has revised its outlook for the full year 2021 upwards, with revenue now estimated at around $ 288 billion and EPS of $ 7.95 at mid-point. way of their fork. This compares to the company’s previous forecasts of $ 283 billion and $ 7.75, respectively. This bodes well for investors, as evidenced by the nearly 6% rise in CVS stock in a single trading session on November 3, following the announcement of its results.
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