CVS Health cuts its 2024 forecast a third time, dragged down by health insurance struggles

CVS Health has chopped its 2024 forecast for a third time as the health care giant continues to struggle with high utilization in its health insurance business. The company said Wednesday that the leader of that segment, Executive Vice President Brian Kane, had left the company, and CEO Karen Lynch would take over leadership of the insurance business. CVS Health dropped its forecast for now expects adjusted earnings for the year down to $6.40 to $6.65 per share after shaving its estimate to at least $7 per share in May. FactSet says analysts forecast earnings of $6.96 per share.