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CVS Health Corp stock has reached a new 52-week high, hitting 82.88 USD. This marks a significant milestone for the company, reflecting a 45.58% increase over the past year. With a market capitalization of $105 billion, CVS has delivered an impressive 90% return year-to-date. According to InvestingPro analysis, the stock appears undervalued relative to its Fair Value. The stock’s performance highlights the company’s strong market position and investor confidence. This upward trend suggests positive momentum, as CVS continues to expand its healthcare offerings and strategic initiatives. The 52-week high is a notable achievement, signaling robust growth and potential for further gains in the market. The company maintains a solid 3.22% dividend yield and has consistently paid dividends for 55 consecutive years. For deeper insights and additional ProTips, visit InvestingPro.
In other recent news, CVS Pharmacy has successfully completed its acquisition of select Rite Aid assets, including 63 stores and prescription files from 626 pharmacies across 15 states. This transaction, finalized on September 30, brings over nine million former Rite Aid and Bartell Drugs patients to CVS, and the company has onboarded more than 3,500 former employees to facilitate the transition. Cantor Fitzgerald has maintained its Overweight rating on CVS Health, setting a price target of $78.00, and noted that the company’s slight decline in Medicare Advantage Star ratings was better than anticipated. The firm views CVS Health’s maintenance of over 80% of its ratings at high levels as a positive development. Meanwhile, Amazon’s announcement to expand its pharmacy services by filling prescriptions at electronic kiosks in One Medical facilities has been noted as a potential competitive factor for CVS. Additionally, Cantor Fitzgerald has pointed out that disenrollment trends in Arizona could pose challenges for CVS Health and other healthcare insurers. These developments highlight CVS Health’s ongoing strategic moves and the competitive landscape it faces.
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