CVS Health reported second-quarter earnings that surpassed analysts’ expectations, but the company’s updated profit guidance for 2026 and outlook for 2027 fell short of investor hopes, leading to a decline in its stock price on Wednesday.

The company raised its earnings forecast for 2026 to a range between $7.90 and $8.10 per share, increasing both the low and high ends by 60 cents. However, this increment was viewed as modest compared to the magnitude of CVS’s recent earnings beat. For 2027, CVS projected earnings of at least $8.44 per share.

Stephanie Link, chief investment strategist at Hightower Advisors, noted that the guidance was weaker than expected by many investors, describing the forecast as implying a growth rate in the single digits during the second half of 2026. This projection falls short of Wall Street consensus estimates. Link also highlighted concerns about potential headwinds from rising medical costs and broader economic challenges that could weigh on the company’s results later in the year.

Following the release of the company’s results and revised forecast, CVS shares declined nearly 6 percent, closing at $98.39. The reaction reflected investor caution regarding the company's ability to sustain its recent earnings momentum amid uncertain market conditions.