ATLAS News · Companies
CVS Health plans to separate into two publicly traded companies and raised its forecast, according to WSJ, MarketBeat and HME Business.
CVS Health (NYSE: CVS) announced plans to separate into two publicly traded companies, according to HME Business. The company made the announcement on Nov. 4, and MarketBeat reports it came alongside a higher outlook.
The Wall Street Journal reports that CVS raised its forecast, citing gains in health care benefits and pharmacy. HME Business says CVS described each of the two independent companies as committed to innovating to make healthcare more affordable and accessible.
The National Community Pharmacists Association said it is way too early to celebrate the plan, per HME Business. Bloomberg runs a piece arguing the spinoff is no magic bullet for growth, and MarketBeat also reports an insider purchase of 23,855 shares by an executive vice president.
A corporate separation, or spinoff, divides a company's businesses into independent firms, each with its own public listing and management.
The split and the raised outlook bear on how investors and industry groups assess CVS Health's businesses, though the sources show differing views on its effect.
Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.
Healthcare · NYSE
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