CVS Health CVS shares rallied 5.9% in the last trading session to close at $67.63. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.1% loss over the past four weeks.

CVS Health scored strong price increase driven by optimism surrounding the market's recovery after a sharp sell-off due to concerns about the possible effects of tariffs. The market is also upbeat about the company’s recent corporate update. CVS Health announced Brian Newman to be the new CFO effective April 21, 2025.  

This drugstore chain and pharmacy benefits manager is expected to post quarterly earnings of $1.62 per share in its upcoming report, which represents a year-over-year change of +23.7%. Revenues are expected to be $92.82 billion, up 5% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For CVS Health, the consensus EPS estimate for the quarter has been revised 1.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CVS going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

CVS Health belongs to the Zacks Medical Services industry. Another stock from the same industry, Concentra Group CON, closed the last trading session 1.9% lower at $19.83. Over the past month, CON has returned -6.4%.

Concentra's consensus EPS estimate for the upcoming report has changed +0.9% over the past month to $0.31. Compared to the company's year-ago EPS, this represents a change of -34%. Concentra currently boasts a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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