CVS Health tops 2Q forecasts; grows cautious about next year

Vaccines and a return to normal care levels helped push CVS Health past Wall Street’s second-quarter expectations, but the resurging COVID-19 pandemic is clouding the health care giant’s 2022 expectations

Vaccines and a return to normal care levels helped push CVS Health past Wall Street’s second-quarter expectations, but the resurging COVID-19 pandemic is clouding the health care giant’s 2022 expectations. Chief Financial Officer Shawn Guertin told analysts on Wednesday that the company always aims for double-digit growth in adjusted earnings per share. But he wouldn’t repeat that goal for next year, given rising COVID-19 cases and falling vaccination rates. CVS Health shares fell deeper than the broader market in late-morning trading. That was driven by the 2022 comments and the company’s relatively conservative forecast hike for 2021, which it also announced Wednesday, Mizuho Securities USA analyst Ann Hynes said in a research note.