What's Going On With CVS Stock Today?

Cigna -0.32%
CVS Health -1.56%
Humana Inc. -1.91%

Cigna

CI

308.78

-0.32%

CVS Health

CVS

65.62

-1.56%

Humana Inc.

HUM

232.18

-1.91%

CVS Health Corporation (NYSE:CVS) shares are trading lower on Wednesday. The stock may be sinking in response to the reported discussions between Cigna Group (NYSE:CI) and Humana Inc  (NYSE:HUM) regarding a merger deal.

What To Know: According to a Wall Street Journal report, the deal, which could be finalized by the end of 2023, would create a new major player in the industry, leveraging Cigna's pharmacy-benefit unit and commercial insurance capabilities and Humana's Medicare segment.

However, the potential of such a new health insurance powerhouse may also pose a threat to CVS as an established leader in the industry. Shares of CVS stock fell roughly 3% on Wednesday, possibly due to the news.

CVS stock has largely struggled over the past year, with shares down 27.89% year-to-date.

Related Link: What's Going On With Apple Stock?

CVS Price Action: Shares of CVS were down 3.09% at $67.18 at the time of publication, according to Benzinga Pro

Image by Charles Thompson from Pixabay

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