Connect with us

Hi, what are you looking for?


Oak Street Health stock just rallied 30%: explained here

oak street health stock rallies 30%

Oak Street Health Inc (NYSE: OSH) opened more than 30% up this morning after a report that CVS Health Corp (NYSE: CVS) is interested in buying the network of primary care centres.

Deal could value Oak Street at $10 billion

Late last night, Bloomberg said the healthcare giant was willing to pay as much as $10 billion for Oak Street that has close to 170 healthcare centres located across 21 states.

CVS has been aggressive in expanding its footprint in clinics ever since Amazon outbid it to acquire One Medical for $18 a share in July 2022 – to which it responded with spending $8.0 billion on buying Signify Health instead as Invezz reported here.

Earlier this week, CVS Health Corp also invested $100 million in Carbon Health Inc – a chain of primary care clinics based out of San Francisco. Its shares are trading slightly down on Tuesday.

Talks could conclude without an agreement

Anonymous sources told Bloomberg that talks were ongoing between the two companies but said the prospect of a “no deal” remains on the table. CVS is yet to comment on today’s report.

Currently, Oak Street Health serves more than 159,000 patients across the United States. Newlight Partners and General Atlantic own about 39% of this company.

Wall Street has a consensus “overweight” rating on this healthcare stock that’s now returned to its high in August 2022.

Also this week, CVS said it will exceed its guidance for $309 billion to $314 billion in full-year revenue. It’s set to report its Q4 results early next month.

The post Oak Street Health stock just rallied 30%: explained here appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Mimiq, Inc is announcing today the launch of their new product, Mimiq Track, at CES as part of their latest product line to operate...


    Bayerische Motoren Werke AG (ETR: BMW) shares have advanced more than 15% since the beginning of October 2022, and the current share price stands...

    Editor's Pick

    In Risky Business: Why Insurance Markets Fail and What to Do About It (Yale University Press, 2023), economists Liran Einav (Stanford), Amy Finkelstein (MIT),...

    Editor's Pick

    Real gross domestic product rose at a revised 3.2 percent annualized rate in the third quarter versus a 0.6 percent rate of decline in...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023