CVS Health Corporation (CVS) Bundle
A Brief History of CVS Health Corporation (CVS)
Company Overview
CVS Health Corporation is a healthcare company headquartered in Woonsocket, Rhode Island. As of 2024, the company operates with the following key financial metrics:
| Financial Metric | Value |
|---|---|
| Annual Revenue (2023) | $322.5 billion |
| Market Capitalization | $138.6 billion |
| Total Employees | 259,500 |
| Number of Retail Locations | 9,633 pharmacy stores |
Business Segments
CVS Health operates through multiple business segments:
- Pharmacy Services
- Retail/LTC
- Health Care Benefits
- Aetna Health Insurance
Key Financial Performance
Detailed financial performance for 2023:
| Financial Category | Amount |
|---|---|
| Net Income | $7.2 billion |
| Operating Cash Flow | $14.3 billion |
| Total Assets | $271.7 billion |
Strategic Acquisitions
Significant recent acquisition includes the Aetna health insurance company for $70 billion in 2018.
Pharmacy Services
CVS Caremark manages pharmacy benefits for:
- Over 90 million plan members
- 2,100 health plans
- 1,500 client groups
Healthcare Technology
The company has invested $3.5 billion in healthcare technology and digital transformation initiatives in 2023.
A Who Owns CVS Health Corporation (CVS)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| The Vanguard Group, Inc. | 136,018,442 | 10.83% |
| BlackRock Inc. | 119,366,804 | 9.50% |
| Capital World Investors | 75,347,251 | 6.00% |
| State Street Corporation | 64,477,898 | 5.13% |
Top Institutional Owners
- The Vanguard Group manages $7.5 trillion in global assets
- BlackRock Inc. holds $9.5 trillion in global investments
- Capital World Investors manages $2.3 trillion in global portfolios
Insider Ownership
CVS Health Corporation insiders own approximately 0.2% of total company shares.
Public Float
The public float for CVS Health Corporation is 99.8% of total outstanding shares.
Ownership Structure
CVS Health Corporation is a publicly traded company listed on the New York Stock Exchange (NYSE) under the ticker symbol CVS.
CVS Health Corporation (CVS) Mission Statement
Corporate Mission Overview
CVS Health Corporation's mission focuses on transforming health care through innovative solutions and comprehensive services.
| Metric | Value (2023) |
|---|---|
| Total Revenue | $322.5 billion |
| Number of Retail Locations | 9,633 pharmacy stores |
| Annual Prescription Volumes | 1.5 billion prescriptions filled |
Strategic Pillars
- Integrated healthcare delivery
- Pharmacy services
- Healthcare technology solutions
- Patient-centered care models
Key Operational Focus Areas
CVS Health concentrates on:
- Pharmacy Benefits Management
- Retail Pharmacy Operations
- Health Insurance Services
- Digital Health Innovations
| Business Segment | 2023 Revenue |
|---|---|
| CVS Pharmacy | $84.7 billion |
| Aetna Health Insurance | $92.3 billion |
| Caremark Pharmacy Services | $145.5 billion |
How CVS Health Corporation (CVS) Works
Corporate Structure and Business Segments
CVS Health Corporation operates through four primary business segments:
- Pharmacy Services
- Retail/LTC
- Health Care Benefits
- Corporate/Other
| Segment | 2023 Revenue | Market Share |
|---|---|---|
| Pharmacy Services | $139.4 billion | 34.2% |
| Retail/LTC | $88.6 billion | 22.1% |
| Health Care Benefits | $170.2 billion | 43.7% |
Pharmacy Services Operations
CVS Caremark manages prescription benefits for:
- Employers
- Insurance companies
- Medicare Part D plans
- Medicaid managed care organizations
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $322.5 billion |
| Net Income | $4.9 billion |
| Operating Cash Flow | $11.3 billion |
Retail Pharmacy Network
CVS operates:
- 9,673 retail pharmacy locations
- 1,131 MinuteClinic locations
- Presence in 49 states
Healthcare Insurance Coverage
Aetna (owned by CVS) provides health insurance for:
- 22.1 million medical members
- 15.6 million dental members
- 5.7 million pharmacy members
Digital Health Platforms
| Digital Service | 2023 Users |
|---|---|
| CVS.com | 43.2 million active users |
| CVS Pharmacy App | 31.5 million downloads |
How CVS Health Corporation (CVS) Makes Money
Pharmacy Services Segment
CVS generates revenue through its Pharmacy Services segment, which reported $159.9 billion in 2022 revenue. This segment manages pharmacy benefits for employers, health plans, and government entities.
| Revenue Stream | 2022 Amount |
|---|---|
| Prescription Drug Sales | $98.7 billion |
| Pharmacy Benefit Management Services | $61.2 billion |
Retail/LTC Segment
CVS operates 9,633 retail pharmacy locations, generating $147.1 billion in retail segment revenue in 2022.
- Prescription Drug Sales: $87.5 billion
- Front Store Merchandise Sales: $59.6 billion
Health Care Benefits Segment
Aetna, owned by CVS, contributed $87.4 billion in health insurance revenue for 2022.
| Insurance Membership | Number of Members |
|---|---|
| Medical Insurance Members | 22.1 million |
| Pharmacy Insurance Members | 32.6 million |
Total Company Financial Performance
CVS Health Corporation reported total revenue of $322.5 billion in 2022, with a net income of $4.16 billion.
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