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CVS Health Q3 profit misses estimates, company names new leaders at 2 divisions

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CVS Health on Wednesday posted a miss in third-quarter profit and named executives for two key divisions.

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CVS' insurance business has dragged on the company's performance and many see in Nelson an industry veteran who can provide a needed jolt. That involves privately run versions of the federal government’s coverage program mainly for people age 65 and older. Glenview said last month that CVS Health’s struggles in Medicare Advantage “reflect the poor decisions and risk management of a select few.

The company also said earlier this fall that it will trim its workforce by about 2,900 people, or less than 1% of its total.

 

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