5 Stocks Drawing Attention After Posting Their Financial Results

2. CVS Health Corporation (NYSE:CVS)

Number of Hedge Fund Holders: 71

Shares of CVS Health Corporation (NYSE:CVS) rose nearly two percent in the pre-market trading session on Wednesday, May 4, 2022, after delivering impressive financial performance for the first quarter.

CVS Health Corporation (NYSE:CVS) reported earnings of $2.22 per share on an adjusted basis, topping estimates of $2.15 per share. Moreover, its quarterly revenue rose 11.2 percent on a year-over-year basis to $76.83 billion and surpassed expectations of $75.39 billion.

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CVS Health Corporation (NYSE:CVS) continues to benefit from the pandemic as people visit its stores for coronavirus tests and receiving vaccine shots. Meanwhile, the company is adding new healthcare services across its outlets to boost foot traffic.

Looking forward, CVS Health Corporation (NYSE:CVS) raised its 2022 adjusted earnings outlook to a range of $8.20 – $8.40 per share, from its previous guidance between $8.10 – $8.30 per share.