What's Going On With CVS Stock Today?

CVS Health Corporation CVS shares are trading lower on Wednesday. The stock may be sinking in response to the reported discussions between Cigna Group CI and Humana Inc  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.

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

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