Top 5 Stocks to Watch Today

2. CVS Health Corporation (NYSE:CVS)

Number of Hedge Fund Holders: 65

CVS Health Corporation (NYSE:CVS) has decided to acquire Signify Health in a cash transaction valued at roughly $8 billion. CVS shares slipped over 1 percent in mid-day trading Tuesday following the news.

Signify is engaged in providing healthcare services to millions of patients through a network of 10,000 doctors in the U.S. CVS Health Corporation (NYSE:CVS) expects to close the deal by the second half of 2023.

Speaking on the development, CEO of CVS Health Corporation (NYSE:CVS), Karen Lynch, said:

“Signify Health will play a critical role in advancing our health care services strategy and gives us a platform to accelerate our growth in value-based care. This acquisition will enhance our connection to consumers in the home and enables providers to better address patient needs as we execute our vision to redefine the health care experience.”