Forbes August 12, 2022
CVS Health stock (NYSE: CVS) reported its Q2 results last week, with revenue and earnings comfortably above ours and the street estimates. CVS stock has rallied around 2% in a week, while it’s up 10% in a month. Despite the recent rise, we believe CVS stock has more room for growth and may continue to see higher levels, as discussed below.
CVS Health’s revenue (Q2) of $80.6 billion was up 11% (y-o-y), and EPS of $2.40 was down 1% (y-o-y), compared to our estimates of $76.7 billion and $2.19, respectively. The revenue growth was seen across segments, and its total medical membership stood at 24.4 million, up 1% from the prior-year period. The operating margins contracted 76 bps to a...
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