CVS Health chops 2024 forecast as cost struggles with Medicare Advantage persist

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CVS Health missed first-quarter expectations and chopped its 2024 outlook more than a dollar below Wall Street’s forecast.

New Insider Deals are perfect for spring and summerFILE - A sign marks a CVS branch on Tuesday, May 16, 2023, in Pasadena, Calif. CVS Health reports earnings on Wednesday, May 1, 2024

CVS Health said it now expects adjusted earnings to be at least $7, down its previous forecast of at least $8.30.The guidance reduction was much more significant than expected, according to Leerink analyst Michael Cherny. He said in a research note that it raises questions about the company’s path to reaching its previously stated goal of double-digit growth in earnings per share next year.

Source: Healthcare Press (healthcarepress.net)

 

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