NEW YORK (TheStreet) -- CVS Health (CVS) shares are up 0.7% to $80.27 on Wednesday after the company announced that it was changing its name to CVS Health from CVS Caremark and stopping the sale of tobacco products at its stores effective immediately.
Could a tax inversion deal be in CVS Health's future? TheStreet's Brittany Umar spoke with CEO Larry Merlo:
The move comes a month ahead of schedule as the company announced in February that it would stop selling tobacco October 1 in order to focus more on customer health.
The signage at the company's 7,500+ stores nationwide will not change despite the new name.
TheStreet Ratings team rates CVS CAREMARK CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CVS CAREMARK CORP (CVS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins."