News Summary

• Shares of CVS, which also runs a large retail pharmacy chain, rose over 9% in morning trading.
• CVS’s Aetna insurance business reported a medical loss ratio – or the percentage of premiums spent on medical services – of ⁠84.6%, below analysts’ estimates of 87.58%.
• CVS reported $48.237 billion in revenue for its health services segment, which includes ‌its Caremark PBM, an 11% increase.
• Leerink analyst Michael Cherny called the quarter very strong and said it “should continue recent momentum as CVS gets back on the earnings power opportunity track”