Wolfe Research notes that CVS lost 4-Stars for 2024 on its largest Medicare Advantage contract, while also pointing out that CMS provides preliminary look to plans on Stars before releasing in early October and indicating that plans were given this data, including updated cut points, late last week. The firm, which has obtained Star cut points for 2025 Stars, says its analysis of the contract data and cut point data indicates that the cut point changes for 2025 Stars for this key CVS contract “would not have changed the Star rating materially.” The firm, which believes “the probability is high that this contract is indeed back to 4-Stars for next year,” expects commentary from the company tomorrow at a competitor conference. Wolfe has a Peer Perform rating and no price target on CVS Health shares.
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