CVS Health plans to split into two companies, shares down

By Reuters News

** Shares of health insurer CVS Health CVS.N fall 2.1% to $89.47 premarket

** Co plans to separate into two independent, publicly traded companies, with completion targeted for the first half of 2028

** CVS Health CEO David Joyner will lead the insurance and health-services company, while Group President Prem Shah will become CEO of CVS Pharmacy; shareholders will own stock in both companies

** Leerink Partners says it "wouldn't be surprised" to see shares fall on deal-related factors and broader post-election volatility

** Separately, co reports Q3 adjusted EPS of $2.09, above analysts' estimate of $1.65 according to data compiled by LSEG

** Raises 2026 adjusted EPS forecast to at least $8.20 from $7.90-$8.10

** As of last close, CVS up 15.2% YTD

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