Benzinga | Nov 3, 2021 11:03AM EDT

Why CVS Health Shares Are Making New 52-Week Highs Today

CVS Health Corp (NYSE:CVS) is trading higher Wednesday after the company announced better-than-expected third-quarter financial results and raised guidance above estimates.

CVS Health reported quarterly earnings of $1.97 per share, which beat the estimate of $1.78 per share. The company reported quarterly revenue of $73.79 billion, which beat the estimate of $70.49 billion.

CVS Health raised its full-year 2021 adjusted earnings guidance from a range of $7.70 to $7.80 per share to a range of $7.90 to $8 per share versus the estimate of $7.79 per share.

"We outperformed expectations once again and continue to lead the way in changing how, when and where care is delivered for millions of Americans," said Karen Lynch, president and CEO of CVS Health.

"Our services are responsive to evolving consumer needs, from administering millions of COVID-19 tests and vaccines to offering primary care accessible from virtually anywhere, and our touchpoints allow for unmatched impact," Lynch added.

CVS Price Action: CVS Health is making new 52-week highs during Wednesday's trading session.

The stock was up 4.7% at $95.43 at time of publication.

Photo: courtesy of CVS Health.