CVS Health is a different kind of health care company. It is a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, it is meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, its diversified model engages one in three Americans each year. From its innovative new services at HealthHUB locations, to transformative programs that help manage chronic conditions, it is making health care more accessible, more affordable and simply better.

Company profile
Ticker
CVS
Exchange
Website
CEO
Larry Merlo
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
CVS CAREMARK CORP, CVS CORP, CVS/CAREMARK CORP, MELVILLE CORP
SEC CIK
Corporate docs
Subsidiaries
CVS Foreign, Inc. • ◦CVS Caremark Indemnity Ltd. • ◦CVS International, L.L.C. • CVS Pharmacy, Inc. • Aetna Inc. • ◦Aetna Health Holdings, LLC • ◦Aetna Health of California Inc. • ◦Aetna Health Inc. • ◦Aetna Health of Michigan Inc. • ▪Aetna Better Health Inc. ...
IRS number
50494040
CVS stock data
News

Ominous Death Cross Forms On CVS Health's Chart
24 Jun 22
CNBC's Final Trades: Walt Disney, Amazon, Microsoft And 2 Ways To Gain Health Care Exposure
23 Jun 22
Can You Guess Which County Was Named The Healthiest Community?
22 Jun 22
Analyst Ratings for CVS Health
17 Jun 22
Benzinga's Top Ratings Upgrades, Downgrades For June 17, 2022
17 Jun 22
Press releases
CVS Health to present at the 2022 Goldman Sachs Global Healthcare Conference
1 Jun 22
OmniLife Named Winner of the 2022 Lyfebulb-CVS Kidney Care® Innovation Challenge
20 May 22
A Potential Small-Cap Rising Star in the Telehealth and Long-term Care Markets (TDOC, RXMD, BKD, ENSG, NHC, GNW, SNDA, CVS)
6 May 22
CVS Health Offering No-Cost Heart Health Screenings at MinuteClinic During National Women's Health Week
5 May 22
CVS Health to present at the 2022 Bank of America Healthcare Conference
5 May 22
Analyst ratings and price targets
Current price
Average target
$118.00
Low target
$112.00
High target
$127.00
Loop Capital
Initiated
$120.00
Bernstein
Downgraded
$112.00
Deutsche Bank
Maintains
$113.00
Morgan Stanley
Maintains
$127.00
Investment data
6 long holdings End of quarter 31 Mar 22 |
Value |
#Shares |
Prev Q |
Change %, QoQ |
---|---|---|---|---|
$66.76M | 624.54K | 624.54K | 0 | |
$33.19M | 5.53M | 5.57M | -0.8 | |
$24.13M | 215K | NEW | ||
$23.67M | 300K | NEW | ||
$843K | 32.27K | 32.27K | 0 | |
$317K | 2.68K | 2.68K | 0 |
Holdings list only includes long positions.
Only includes long positions.
Calendar
4 May 22
26 Jun 22
31 Dec 22
Financial summary
Quarter (USD) | Mar 22 | Dec 21 | Sep 21 | Jun 21 | |
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Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 11.61B | 11.61B | 11.61B | 11.61B | 11.61B | 11.61B |
Cash burn (monthly) | 360M | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 1.04B | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 10.58B | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 29.4 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
31 May 22 | Prem S Shah | Common Stock (RSU) | Grant | Acquire A | No | No | 0 | 20,671 | 0 | 20,671 |
31 May 22 | Sreekanth K Chaguturu | Common Stock (RSU) | Grant | Acquire A | No | No | 0 | 12,919 | 0 | 12,919 |
11 May 22 | Decoudreaux Alecia A | Share Credits Common Stock | Grant | Acquire A | No | No | 97.99 | 1,282.019 | 125.63K | 23,488.625 |
11 May 22 | Finucane Anne A. | Common Stock | Grant | Acquire A | No | No | 97.99 | 1,384 | 135.62K | 5,892.248 |
11 May 22 | Brown C David Ii | Share Credits Common Stock | Grant | Acquire A | No | No | 97.99 | 1,358.557 | 133.13K | 70,123.683 |
Institutional ownership, Q1 2022
77.0% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 2279 |
Opened positions | 160 |
Closed positions | 159 |
Increased positions | 850 |
Reduced positions | 1033 |
13F shares | Current |
---|---|
Total value | 123.09B |
Total shares | 1.01B |
Total puts | 13.93M |
Total calls | 16.44M |
Total put/call ratio | 0.8 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 111.87M | $11.32B |
BLK Blackrock | 92.97M | $9.41B |
STT State Street | 59.26M | $6B |
Capital World Investors | 58.63M | $5.93B |
Capital International Investors | 28.14M | $2.85B |
JPM JPMorgan Chase & Co. | 24M | $2.43B |
MS Morgan Stanley | 22.77M | $2.3B |
Geode Capital Management | 22.43M | $2.26B |
BAC Bank Of America | 17.5M | $1.77B |
IVZ Invesco | 17.33M | $1.75B |
Financial report summary
?Competition
Unitedhealth • Option Care Health Inc. - Registered Shares • SS&C Technologies • Premier • SHARING SERVICES GLOBAL • Cigna • Babylon Holdings LimitedRisks
- The spread of, impact of and response to COVID-19 underscores and amplifies certain risks we face. The impact COVID-19 will have on our businesses, operating results, cash flows and/or financial condition is uncertain, but the impact could be material and adverse.
- We may not be able to accurately forecast health care and other benefit costs, which could adversely affect our Health Care Benefits segment’s operating results. There can be no assurance that future health care and other benefits costs will not exceed our projections.
- Adverse economic conditions in the U.S. and abroad can materially and adversely impact our businesses, operating results, cash flows and financial condition, and we do not expect these conditions to improve in the near future.
- Each of our segments operates in a highly competitive and evolving business environment; and operating income in the industries in which we compete may decline.
- A change in our Health Care Benefits product mix may adversely affect our profit margins.
- Negative public perception of the industries in which we operate, or of our industries’ or our practices, can adversely affect our businesses, operating results, cash flows and prospects.
- We must maintain and improve our relationships with our retail and specialty pharmacy customers and increase the demand for our products and services, including proprietary brands.
- We face risks relating to the availability, pricing and safety profiles of prescription drugs that we purchase and sell.
- The reserves we hold for expected claims in our Insured Health Care Benefits products are based on estimates that involve an extensive degree of judgment and are inherently variable. Any reserve, including a premium deficiency reserve, may be insufficient. If actual claims exceed our estimates, our operating results could be materially adversely affected, and our ability to take timely corrective actions to limit future costs may be limited.
- Our operating results are affected by the health of the economy in general and in the geographies we serve.
- We are exposed to risks relating to the solvency of other insurers.
- Extreme events, or the threat of extreme events, could materially impact our businesses and health care (including behavioral health) costs.
- We may be unable to achieve our environmental, social and governance goals.
- We are subject to potential changes in public policy, laws and regulations, including reform of the U.S. health care system, which can adversely affect our businesses. Entitlement program reform, if it occurs, could have a material adverse effect on our businesses, operations and/or operating results.
- If we fail to comply with applicable laws and regulations, many of which are highly complex, we could be subject to significant adverse regulatory actions, including monetary penalties, or suffer brand and reputational harm.
- If our compliance or other systems and processes fail or are deemed inadequate, we may suffer brand and reputational harm and become subject to regulatory actions and/or litigation.
- We routinely are subject to litigation and other adverse legal proceedings, including class actions and qui tam actions. Many of these proceedings seek substantial damages which may not be covered by insurance. These proceedings are costly to defend, may result in changes in our business practices, harm our brand and reputation and adversely affect our businesses and operating results.
- We frequently are subject to regular and special governmental audits, investigations and reviews that could result in changes to our business practices and also could result in material refunds, fines, penalties, civil liabilities, criminal liabilities and other sanctions.
- Our litigation and regulatory risk profile are changing as we offer new products and services and expand in business areas beyond our historical core businesses of Health Care Benefits, Pharmacy Services and Retail/LTC.
- We face unique regulatory and other challenges in our Medicare and Medicaid businesses.
- Programs funded in whole or in part by the U.S. federal government account for a significant portion of our revenues, and we expect that percentage to increase.
- Possible changes in industry pricing benchmarks and drug pricing generally can adversely affect our PBM and Retail/LTC businesses.
- We may not be able to obtain adequate premium rate increases in our Insured Health Care Benefits products, which would have an adverse effect on our revenues, MBRs and operating results and could magnify the adverse impact of increases in health care and other benefit costs and of ACA assessments, fees and taxes.
- Minimum MLR rebate requirements limit the level of margin we can earn in our Insured Health Care Benefits products while leaving us exposed to higher than expected medical costs. Challenges to our minimum MLR rebate methodology and/or reports could adversely affect our operating results.
- Our operating results may be adversely affected by changes in laws and policies governing employers and by union organizing activity.
- We face international political, legal and compliance, operational, regulatory, economic and other risks that may be more significant than in our domestic operations.
- We may be unable to successfully integrate companies we acquire.
- We expect to continue to pursue acquisitions, joint ventures, strategic alliances and other inorganic growth opportunities, which may be unsuccessful, cause us to assume unanticipated liabilities, disrupt our existing businesses, be dilutive or lead us to assume significant debt, among other things.
- Failure to meet customer expectations may harm our brand and reputation, our ability to retain and grow our customer base and membership and our operating results and cash flows.
- We and our vendors have experienced and continue to experience cyber attacks. We can provide no assurance that we or our vendors will be able to detect, prevent or contain the effects of such attacks or other information security (including cybersecurity) risks or threats in the future.
- Data governance failures can adversely affect our reputation, businesses and prospects. Our use and disclosure of members’, customers’ and other constituents’ sensitive information is subject to complex regulations at multiple levels. We would be adversely affected if we or our business associates or other vendors fail to adequately protect members’, customers’ or other constituents’ sensitive information.
- Product liability, product recall or personal injury issues could damage our reputation and have a significant adverse effect on our businesses, operating results, cash flows and/or financial condition.
- We face significant competition in attracting and retaining talented employees. Further, managing succession for, and retention of, key executives is critical to our success, and our failure to do so could adversely affect our businesses, operating results and/or future performance.
- Sales of our products and services are dependent on our ability to attract and motivate internal sales personnel and independent third-party brokers, consultants and agents. New distribution channels create new disintermediation risk. We may be subject to penalties or other regulatory actions as a result of the marketing practices of brokers and agents selling our products.
- Failure of our businesses to effectively collaborate could prevent us from maximizing our operating results.
- The failure or disruption of our information technology systems or the failure of our information technology infrastructure to support our businesses could adversely affect our reputation, businesses, operating results and cash flows.
- Our business success and operating results depend in part on effective information technology systems and on continuing to develop and implement improvements in technology. Pursuing multiple initiatives simultaneously could make this continued development and implementation significantly more challenging.
- We are subject to payment-related risks that could increase our operating costs, expose us to fraud or theft, subject us to potential liability and disrupt our business operations.
- Both our and our vendors’ operations are subject to a variety of business continuity hazards and risks, any of which could interrupt our operations or otherwise adversely affect our performance and operating results.
- Goodwill and other intangible assets could, in the future, become impaired.
- Adverse conditions in the U.S. and global capital markets can significantly and adversely affect the value of our investments in debt and equity securities, mortgage loans, alternative investments and other investments, and our operating results and/or our financial condition.
- We face risks relating to the market availability, pricing, suppliers and safety profiles of prescription drugs and other products that we purchase and sell.
- Our operating results may be adversely affected if we are unable to contract with providers on competitive terms and develop and maintain attractive networks with high quality providers.
- If our suppliers or service providers fail to meet their contractual obligations to us or to comply with applicable laws or regulations, we may be exposed to brand and reputational harm, litigation and/or regulatory action. This risk is particularly high in our Medicare, Medicaid, dual eligible and dual eligible special needs plan programs.
- We may experience increased medical and other benefit costs, litigation risk and customer and member dissatisfaction when providers that do not have contracts with us render services to our Health Care Benefits members.
- Continuing consolidation and integration among providers and other suppliers may increase our medical and other covered benefits costs, make it difficult for us to compete in certain geographies and create new competitors.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. junior Bad
|
New words:
aged, agreement, aim, ASR, assumption, back, billing, Budget, CDC, COBRA, decade, Delaware, denial, Deploying, discrete, domiciled, duty, fixed, Florida, found, hedge, high, immunocompromised, inspection, jury, Law, liable, negative, notional, older, parking, Payflex, PLC, pretax, procurement, progression, propose, remedy, resolve, slightly, streamline, sustainable, Thailand, transaction, verdict, weaker
Removed:
absence, ACA, achieve, allocation, approach, ASU, calculating, calendar, capitalization, Codification, compression, Coventry, decline, determination, digitalization, discounted, efficiency, eliminating, enacted, exceeded, execute, FASB, favorable, franchise, gain, HIF, imposed, intraperiod, MLR, ongoing, onsite, operational, peer, pension, preparing, productivity, profitability, prolonged, repeal, repealed, retained, selection, Simplifying, terminal, treatment, workforce
Financial reports
Current reports
8-K
Regulation FD Disclosure
9 Jun 22
8-K
Submission of Matters to a Vote of Security Holders
16 May 22
8-K
Other Events
16 May 22
8-K
Results of Operations and Financial Condition
4 May 22
8-K
CVS Health Reaches Opioid Settlement Agreement with State of Florida
30 Mar 22
8-K
Departure of Directors or Certain Officers
25 Mar 22
8-K
Departure of Directors or Certain Officers
10 Mar 22
8-K
Results of Operations and Financial Condition
9 Feb 22
8-K
Results of Operations and Financial Condition
11 Jan 22
8-K
Other Events
13 Dec 21
Registration and prospectus
424B2
Prospectus for primary offering
11 Aug 21
FWP
Free writing prospectus
9 Aug 21
424B3
Prospectus supplement
9 Aug 21
424B2
Prospectus for primary offering
9 Dec 20
FWP
Free writing prospectus
7 Dec 20
424B3
Prospectus supplement
7 Dec 20
424B2
Prospectus for primary offering
14 Aug 20
FWP
Free writing prospectus
12 Aug 20
424B3
Prospectus supplement
12 Aug 20
S-8
Registration of securities for employees
19 May 20
Proxies
PX14A6G
Letter to shareholders
10 May 22
PX14A6G
Letter to shareholders
6 Apr 22
DEFA14A
Additional proxy soliciting materials
1 Apr 22
DEFA14A
Additional proxy soliciting materials
2 Apr 21
DEF 14A
Definitive proxy
2 Apr 21
DEFA14A
Additional proxy soliciting materials
6 May 20
DEFA14A
Additional proxy soliciting materials
24 Apr 20
DEFA14A
Additional proxy soliciting materials
24 Apr 20
DEFA14A
Additional proxy soliciting materials
3 Apr 20
Other
UPLOAD
Letter from SEC
26 Aug 19
CORRESP
Correspondence with SEC
19 Aug 19
UPLOAD
Letter from SEC
7 Aug 19
CORRESP
Correspondence with SEC
9 Jul 19
CORRESP
Correspondence with SEC
27 Jun 19
UPLOAD
Letter from SEC
17 Jun 19
EFFECT
Notice of effectiveness
11 Dec 18
UPLOAD
Letter from SEC
31 Jul 18
CORRESP
Correspondence with SEC
18 Jul 18
UPLOAD
Letter from SEC
15 Jul 18
Ownership
11-K
Annual report of employee stock purchases
23 Jun 22
4
CVS HEALTH / Sreekanth K Chaguturu ownership change
6 Jun 22
4
CVS HEALTH / Prem S Shah ownership change
6 Jun 22
3/A
CVS HEALTH / Sreekanth K Chaguturu ownership change
6 Jun 22
3
CVS HEALTH / Sreekanth K Chaguturu ownership change
19 May 22
4
CVS HEALTH / DAVID W DORMAN ownership change
13 May 22
4
CVS HEALTH / WILLIAM C WELDON ownership change
13 May 22
4
CVS HEALTH / TONY L WHITE ownership change
13 May 22
4
CVS HEALTH / ROGER N FARAH ownership change
13 May 22
4
CVS HEALTH / NANCY ANN DEPARLE ownership change
13 May 22
Patents
Utility
Systems and Methods for Determining Whether an Individual Is Sick Based on Machine Learning Algorithms and Individualized Data
16 Jun 22
In some instances, a user device for determining whether an individual is sick is provided.
Utility
Shared keys based on multiple features
14 Jun 22
A method for secret sharing utilizing multiple features of an input includes: receiving a registration input; obtaining features from the registration input; generating a secret key and a plurality of shared keys according to a shared secret scheme; associating each of the plurality of shared keys with a respective feature of the registration input; generating a plurality of additional features associated with additional keys having a similar format as a shared key associated with a respective feature; storing the plurality of shared keys associated with respective features together with the plurality of additional keys associated with additional features; and encrypting an element to be protected by the secret key using the secret key.
Design
Display screen with graphical user interface
24 May 22
Inventors: Dena Branciforte, Debapriyo Banerjee
Utility
Systems and methods for generating search queries using toggle buttons associated with product categories
10 May 22
In some instances, the disclosure provides a method for generating search queries using toggle buttons associated with product categories.
Utility
Presenting health data to a responding emergency medical system
1 Mar 22
A method for presenting health data to a responding emergency medical system (EMS) device includes: (a) registering an EMS profile and a member profile, the member profile to include an option for sharing member information, and the EMS profile to include one or more authorizations for receiving the member information; (b) receiving trigger information including a request for the member information; (c) receiving the member information from one or more sources; (d) packaging the member information in a member care file based on the request for the member information being valid; and (e) providing the member care file to the EMS device.
Transcripts
2022 Q1
Earnings call transcript
4 May 22
2021 Q4
Earnings call transcript
9 Feb 22
2021 Q3
Earnings call transcript
3 Nov 21
2021 Q2
Earnings call transcript
4 Aug 21
2021 Q1
Earnings call transcript
4 May 21
2020 Q4
Earnings call transcript
16 Feb 21
2020 Q3
Earnings call transcript
6 Nov 20
2020 Q2
Earnings call transcript
5 Aug 20
2020 Q1
Earnings call transcript
6 May 20
2019 Q4
Earnings call transcript
12 Feb 20
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