CVS Health Raised Its Outlook, but the Stock Still Fell

CVS Health stock fell Wednesday, even after the healthcare giant raised its full-year guidance on the back of second-quarter earnings that handily beat analysts’ projections. While analysts reacted positively to the earnings announcement, company executives spoke in more detail on an investor call about sources of pressure during the quarter—including from a federal drug pricing program called 340B. The “incremental angst” on the 2027 outlook is “the clear pressure point for the stock,” said Leerink Partners analyst Michael Cherny in a client note Wednesday afternoon.