We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CVS Health (CVS) Extends COVID-19 Testing in Massachusetts
Read MoreHide Full Article
CVS Health Corporation (CVS - Free Report) recently announced that its COVID-19 antibody testing is now available in all MinuteClinic locations in MA. Notably, there are nearly 60 MinuteClinic locations in the state.
For investors’ note, MinuteClinic is the retail medical clinic of CVS Health that is available in almost 1,100 locations within select CVS Pharmacy stores available in WA, D.C. and other 33 states.
With the extension of this testing program, CVS Health aims to increase access to COVID-19 testing options and is expected to see huge market adoption.
COVID-19 Antibody Testing at a Glance
The point-of-care test detects for previous exposure to COVID-19 and results are available within 15 minutes. Antibodies can build up in as few as 14 days after infection, but the test is not intended to diagnose a current infection.
The MinuteClinic provider will carry out the antibody test by collecting blood sample using a finger stick method. The provider will further review the results with the patient.
COVID-19 antibody testing costs $38 and payment is due at the time of service, which can be made via cash or credit, debit and health savings account/flexible spending account cards.
More in the News
CVS Health currently offers COVID-19 testing in more than 4,800 CVS Pharmacy locations. With the availability of COVID-19 antibody testing at MinuteClinic in MA, CVS Health is extending its commitment to provide access to COVID-19 testing. The company is also planning to further expand this service in the coming weeks.
With increasing interest in affordable COVID-19 antibody testing, MinuteClinic enables patients to access this service easily by providing testing facilities at convenient locations, and extended evening and weekend hours with high-quality and evidence-based clinical care.
Industry Prospects
Per a research by ReportLinker, the antibody testing market was valued at $6,415.90 million in 2019 and is projected to reach $10,740.69 million by 2027 at a CAGR of 6.7%. Rising number of COVID-19 cases worldwide, increasing prevalence of chronic diseases and growing geriatric population are the key factors driving the market.
Given the market potential, efforts to broaden market footprint seem to have been timed well.
Recent Developments
In March 2021, CVS Health nearly doubled the number of states where CVS Pharmacy locations are offering COVID-19 vaccines to eligible populations through the Federal Retail Pharmacy Program. Notably, the company is administering vaccines in nearly 1,200 stores across 29 states.
In February 2021, CVS Health build community-based strategy to tackle possible inequities related to COVID-19 vaccine access in vulnerable communities, with a particular focus on Black and Hispanic populations. The strategy — which is aimed at increasing COVID-19 vaccination rates — includes proactive patient outreach, community-based partnerships and vaccine clinics, along with robust education-focused marketing.
Price Performance
Shares of the company have gained 31.3% in a year’s time compared with the industry’s 27.2% rally.
Zacks Rank and Key Picks
Currently, CVS Health carries a Zacks Rank #4 (Sell).
Abbott Laboratories has a projected long-term earnings growth rate of 14%.
BioRad has a projected long-term earnings growth rate of 7%.
HillRom has an estimated long-term earnings growth rate of 7%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond. Click here to download this report FREE >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
CVS Health (CVS) Extends COVID-19 Testing in Massachusetts
CVS Health Corporation (CVS - Free Report) recently announced that its COVID-19 antibody testing is now available in all MinuteClinic locations in MA. Notably, there are nearly 60 MinuteClinic locations in the state.
For investors’ note, MinuteClinic is the retail medical clinic of CVS Health that is available in almost 1,100 locations within select CVS Pharmacy stores available in WA, D.C. and other 33 states.
With the extension of this testing program, CVS Health aims to increase access to COVID-19 testing options and is expected to see huge market adoption.
COVID-19 Antibody Testing at a Glance
The point-of-care test detects for previous exposure to COVID-19 and results are available within 15 minutes. Antibodies can build up in as few as 14 days after infection, but the test is not intended to diagnose a current infection.
The MinuteClinic provider will carry out the antibody test by collecting blood sample using a finger stick method. The provider will further review the results with the patient.
COVID-19 antibody testing costs $38 and payment is due at the time of service, which can be made via cash or credit, debit and health savings account/flexible spending account cards.
More in the News
CVS Health currently offers COVID-19 testing in more than 4,800 CVS Pharmacy locations. With the availability of COVID-19 antibody testing at MinuteClinic in MA, CVS Health is extending its commitment to provide access to COVID-19 testing. The company is also planning to further expand this service in the coming weeks.
With increasing interest in affordable COVID-19 antibody testing, MinuteClinic enables patients to access this service easily by providing testing facilities at convenient locations, and extended evening and weekend hours with high-quality and evidence-based clinical care.
Industry Prospects
Per a research by ReportLinker, the antibody testing market was valued at $6,415.90 million in 2019 and is projected to reach $10,740.69 million by 2027 at a CAGR of 6.7%. Rising number of COVID-19 cases worldwide, increasing prevalence of chronic diseases and growing geriatric population are the key factors driving the market.
Given the market potential, efforts to broaden market footprint seem to have been timed well.
Recent Developments
In March 2021, CVS Health nearly doubled the number of states where CVS Pharmacy locations are offering COVID-19 vaccines to eligible populations through the Federal Retail Pharmacy Program. Notably, the company is administering vaccines in nearly 1,200 stores across 29 states.
In February 2021, CVS Health build community-based strategy to tackle possible inequities related to COVID-19 vaccine access in vulnerable communities, with a particular focus on Black and Hispanic populations. The strategy — which is aimed at increasing COVID-19 vaccination rates — includes proactive patient outreach, community-based partnerships and vaccine clinics, along with robust education-focused marketing.
Price Performance
Shares of the company have gained 31.3% in a year’s time compared with the industry’s 27.2% rally.
Zacks Rank and Key Picks
Currently, CVS Health carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader medical space include Abbott Laboratories (ABT - Free Report) , BioRad Laboratories, Inc. (BIO - Free Report) and HillRom Holdings, Inc. , each carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Abbott Laboratories has a projected long-term earnings growth rate of 14%.
BioRad has a projected long-term earnings growth rate of 7%.
HillRom has an estimated long-term earnings growth rate of 7%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>