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WOONSOCKET, R.I. - CVS Pharmacy, part of the $81 billion market cap healthcare giant CVS Health (NYSE:CVS), has introduced a new 3-in-1 test for Influenza A, Influenza B, and COVID-19 at around 1,600 participating locations across 37 states. This launch, announced today, is a response to the sustained high numbers of flu cases in the U.S. The test, which uses a single swab, is part of CVS Health’s expanded flu testing and treatment capabilities. The company’s stock has shown remarkable strength this year, with a 44% year-to-date return, according to InvestingPro data.
In addition to the new combo test, CVS has streamlined the scheduling process for testing and treatment appointments through its website and mobile app. This enhancement is particularly significant in the 13 states where pharmacists can prescribe antiviral treatments to eligible patients who test positive for the flu. These states include California, Colorado, Idaho, Illinois, Michigan, Minnesota, Montana, Nebraska, South Dakota, Tennessee, Washington, Wisconsin, and Wyoming. As a prominent player in the Healthcare Providers & Services industry, CVS continues to expand its service offerings while maintaining strong financial health, as noted in InvestingPro’s comprehensive analysis.
The pharmacy-administered test costs $29.99, while the pharmacist assessment fee is $45, which can be covered using HSA or FSA funds. The cost of any prescribed medication will depend on the patient’s insurance coverage.
CVS also offers at-home testing options for flu and COVID-19, with prices ranging from $12.99 to $24.99. Patients can purchase these tests online or at CVS retail stores. If a patient tests positive at home, they can request a pharmacist evaluation through the CVS Health app or website for potential prescription treatment.
The company emphasizes the importance of immunization as the most effective flu prevention method. The flu vaccine and the updated 2024-2025 COVID-19 vaccine are available at CVS Pharmacy and MinuteClinic locations. CVS Pharmacy welcomes walk-ins for vaccinations and has made scheduling for vaccine appointments accessible online.
CVS Health, which operates CVS Pharmacy and MinuteClinic, is a leading health solutions company with a mission to improve the health of communities across America through various services and a significant network of healthcare professionals. The company generates over $370 billion in annual revenue and offers an attractive 4.17% dividend yield. According to InvestingPro’s analysis, CVS maintains a "GOOD" financial health score, with multiple positive indicators suggesting potential upside for investors.
This announcement is based on a press release statement from CVS Health.
In other recent news, CVS Health reported fourth-quarter earnings for 2024 that exceeded expectations, with adjusted earnings per share coming in at $1.19, which was 29% higher than consensus estimates. This performance was bolstered by a favorable medical loss ratio and higher-than-expected net investment income. In light of these results, Bernstein raised its price target for CVS Health to $71, reflecting increased confidence in the company’s earnings potential, particularly from its Aetna segment. Separately, Cantor Fitzgerald maintained an Overweight rating on CVS Health shares, also setting a $71 price target, highlighting the company’s exposure to Medicaid expansion and related revenues.
Additionally, CVS Health’s stock saw a rise after board director Michael F. Mahoney purchased approximately $2 million worth of shares, signaling confidence in the company’s future. Meanwhile, Thermo Fisher Scientific (NYSE:TMO) appointed Karen S. Lynch, former CEO of CVS Health, to its board of directors, enhancing its leadership team with her extensive healthcare experience. These developments come amid a broader industry downturn due to a DOJ investigation into UnitedHealth Group (NYSE:UNH)’s Medicare billing practices, which has led to investor caution across the healthcare sector. While CVS Health is not directly implicated, the ongoing investigation has prompted concerns about potential regulatory scrutiny affecting other companies involved in Medicare Advantage plans.
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