Billionaire Larry Robbins invests $700M in CVS Health to revitalize struggling operations.

Billionaire Larry Robbins of Glenview Capital Management has invested $700 million in CVS Health, aiming to revitalize its struggling operations. CVS comprises three divisions: healthcare benefits, retail pharmacy, and pharmacy benefit management (PBM). While the PBM segment performs well, challenges persist in healthcare benefits and retail due to rising costs and reimbursement pressures. With a low forward price-to-earnings ratio, CVS may present a buying opportunity for investors.

October 05, 2024
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