Why CVS Health Corporation Jumped 22% in the First Half of 2021
Shares of CVS Health (NYSE: CVS), one of the largest pharmacy chains in the world and a top 10 U.S. retailer by revenue, saw shares of its stock advance 22% through the first half of 2021, according to data from S&P Global Market Intelligence. The company raised its full-year 2021 guidance and saw its valuation rise along with most other stocks in the S&P 500 market index.
In its first-quarter earnings update, CVS raised its full-year adjusted operating income range to between $15.9 billion and $16.1 billion compared to the $15.5 billion-to-$15.7 billion range it gave at the end of 2020. Management also boosted 2021 adjusted earnings per share guidance from between $7.39 and $7.55 to between $7.56 and $7.68. The stock jumped in the days following the news, accounting for much of CVS' stock gains so far in 2021.
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Source Fool.com
