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CVS · Analysis updated Nov 4, 2026, 9:03 AM ET
Why is CVS Health Corporation (CVS) stock moving?
CVS reported a strong Q3 on Nov 4. Adjusted EPS was $2.09 against about $1.65 expected, and revenue was $108.4B, up 5.4%. Management raised 2026 adjusted EPS guidance to at least $8.20 and operating cash flow guidance to at least $15.5B. The medical benefit ratio improved to 91.3%, and every segment grew adjusted operating income. The company also confirmed a plan to split into a healthcare solutions company and a retail pharmacy company, targeted for 2028. Reports of the split lifted the stock 3.3% to $91.41 on Nov 3, on volume of 192K shares, well above recent days. Shares were slightly lower pre-market on Nov 4, which looks like profit-taking after that run-up. Risks include a decline in Pharmacy & Consumer Wellness revenue, 340B reimbursement pressure, Caremark client retention concerns and the execution complexity of a multi-year separation. Management also stayed cautious on cost trends. Analyst sentiment is supportive, with BofA and Barclays reiterating Buy. The stock is about 17% below its July 52-week high of $110.68. It had slid from about $94.75 to $88.51 in late October before the rebound.
News behind the analysis
- Why is CVS Health stock sliding today?Shares slipped about 0.9% pre-open after Q3 results and confirmation of a plan to split into two public companies. BofA and Barclays reiterated Buy ratings.
- CVS Health stock slips despite Q3 beatQ3 beat forecasts, with revenue of $108.4B. CVS proposes to separate into two listed entities in 2028, and shareholders are expected to receive shares in both in a tax-free deal.
- CVS Health Corp earnings beat by $0.44, revenue topped estimatesQ3 adjusted EPS was $2.09 against a $1.65 estimate. Revenue was $108.4B against a $104.75B consensus.
- CVS Health beats estimates, raises guidance amid split plansFull-year adjusted EPS guidance was raised to at least $8.20 from $7.90-$8.10. The medical benefit ratio improved to 91.3% from 92.8%.
- CVS Health raises 2026 adjusted EPS to at least $8.20Adjusted operating income rose 21.2% to $4.19B. Operating cash flow guidance was raised to at least $15.5B.
- CVS Health Corporation Reports Third Quarter 2026 Results and Raises Full-Year 2026 GuidanceOfficial release: Q3 revenue rose 5.4% to $108.4B and adjusted EPS was $2.09. Management kept a cautious view on elevated cost trends and macro headwinds.
- CVS Health Releases Q3 2026 Financial ResultsAdjusted EPS beat estimates by about 25%. Wall Street consensus shows 20 buy ratings, 4 holds and no sells.
- First Look: Dow Surges, CVS Breakup, Tech Earnings, and Disney LayoffsCVS announced plans to separate its drugstore operations from the broader healthcare business.
- CVS Health swings to Q3 net income of $2.17 billionGAAP EPS was $1.68, with no repeat of last year's goodwill impairment. Nine-month operating cash flow more than doubled to $15.32B.
- CVS Health Corporation Stock Quote and NewsCVS closed at $91.41 on Nov 3. Its 52-week range is $69.51 to $110.68. The page also lists the breakup headline.