CVS Health Stock Price Today (CVS)
2023.02.08 15:07
The American healthcare company CVS Health Corporation (previously CVS Corporation and CVS Caremark Corporation) owns the retail pharmacy chain CVS Pharmacy; a pharmacy benefits manager from CVS Caremark; and numerous other brands, including health insurance provider Aetna. Woonsocket, Rhode Island, serves as the company’s headquarters.
In 1963, three partners formed Consumer Value Stores (CVS): Ralph Hoagland and the Goldstein brothers, Stanley and Sidney, developed the business from a parent company called Mark Steven, Inc., which assisted retailers in managing their health and beauty aid product lines.
The company started out as a chain of beauty and health stores, but over time, pharmacies were added. The company joined the retail management group managed by the Melville Corporation to expand. In 1996, CVS Corporation split off from Melville and became a separate company that trades on the New York Stock Exchange under the ticker “CVS.”
In December 2017, CVS agreed to purchase Aetna for $69 billion, which it completed in November 2018. In September 2019, the merger’s legal issues were resolved. CVS Health made announcements of changes to its board of directors in February 2020. The number of directors was reduced from 16 to 13.
CVS Health was ranked fourth on the Fortune 500 list in 2021 and seventh on the Fortune Global 500 list in the same year.
CVS Health made the announcement on November 18, 2021, that the company would close 900 stores over the course of the next three years, beginning in the spring of 2022.
A federal jury decided in November 2021 that CVS, Walgreens, and Walmart “had substantially contributed to” the opioid crisis.
