CVS Health reported a significant drop in profits to $1.1 billion due to increased costs in treating seniors. The company slashed its annual profit forecast, citing challenges in health insurance plans for older adults. CVS missed its Q1 projections, leading to a lowered full-year outlook, primarily due to higher medical costs with Medicare Advantage patients. As a result, its stock price plunged more than 18% to a four-year low. UBS downgraded CVS to neutral from buy, expressing uncertainty and the impact of Medicare Advantage on the stock.
CVS invested heavily in privatized Medicare, now they're taking heavy losses. The company’s stock just saw its biggest drop in more than a decade, and the reason looks to be the flop of it's multi-hundred million dollar gamble on Medicare Advantage. https://t.co/xKz0WZXDNc
CVS Health's operating income fell by 34% in the first quarter compared with the prior-year period. https://t.co/5nqG4ur8FH
CVS Stock Discovers a Medicare Disadvantage https://t.co/Y47Ou2ldJh
$CVS UBS downgrades CVS to neutral from buy UBS said it sees too much uncertainty for shares of CVS. The firm said Medicare Advantage is weighing on the stock. “Time is Needed to Know if the Guide is Fully De-Risked.”
Retail pharmacy chain CVS Health Corporation saw its stock price take a hit today after it cut its 2024 profit forecast. https://t.co/ez4MWD6sGR
CVS’s Medicare business, hit by higher medical costs, pushed down the company’s first-quarter earnings https://t.co/1AqtD8zsWB via @WSJ
CVS Health missed its Q1 projections and lowered its full-year outlook, citing medical cost hikes with Medicare Advantage patients. Its stock price slid. https://t.co/bNx8ku5wPn
CVS Stock Is Dirt Cheap. That Doesn’t Make It a Buy. https://t.co/qrONqjctwK
CVS Health Corp slashed its annual profit forecast on Wednesday and flagged challenges for next year's health insurance plans for older adults, and its shares plunged more than 18% to a four-year low. https://t.co/BohDoYepdS https://t.co/BohDoYepdS
CVS Health Profits Tumble To $1.1 Billion On Higher Costs To Treat Seniors https://t.co/sJlFmmaYWy https://t.co/AfRkVdJKsC