Why did CVS Health stock fall on 9 October?
Written after the close on
CVS Health −1.87%
CVS Health fell in the last session, likely on profit-taking after its Aetna unit's strong 2027 Medicare Advantage star ratings. CVS Health is listed on the NYSE. Over the last five trading days it was roughly unchanged, lagging a market that rose clearly and a healthcare sector that rose sharply, so it moved against both. The most likely drivers were mixed: Aetna's 2027 Medicare Advantage star ratings, announced Thursday, showed more than 69% of members in plans rated four stars or higher, a positive for the insurance business, while extended drug distribution deals with Cardinal Health and McKesson through 2032 added visibility and a declared quarterly dividend signalled stability. Offsetting that, scrutiny of pharmacy benefit managers — the middlemen who negotiate drug prices for insurers — persisted, and the stock had already been weak over the past month.
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