07:08 AM EDT, 09/30/2024 (MT Newswires) -- (Updates with CVS' response in the fourth paragraph.)

CVS Health ( CVS ) leadership is facing a challenge by shareholder Glenview Capital in what could be the start of a push to oust management, news outlets reported, citing people familiar with the matter.

The hedge fund will be meeting with CVS officials including Chief Executive Karen Lynch to detail proposed changes, The Wall Street Journal reported.

CVS shares are down 22% year-to-date and the company has cut full-year guidance for three consecutive quarters, CNBC reported.

CVS said in a statement to MT Newswires that it "maintains a regular dialogue with the investment community as part of our robust shareholder and analyst engagement program. Beyond that, we cannot comment on engagement with specific firms or individuals."

Glenview did not immediately reply to MT Newswires' request for comment.

Shares of CVS were up more than 2% in Monday's premarket activity.

Price: 62.60, Change: +1.22, Percent Change: +1.99