CVS
CVS HEALTH CorpEvidence as of 2026-10-17The desk's Snapshot
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Overview · CVS HEALTH Corp
CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, gover…
Management team
- Mr. Prem S. Shah Pharm.D · Executive VP & Group PresidentFind on LinkedIn
- Ms. Heidi B. Capozzi · Executive VP & Chief People OfficerFind on LinkedIn
- Mr. Tilak Mandadi · EVP of Ventures and Chief Experience & Technology OfficerFind on LinkedIn
- Mr. Thomas Francis Cowhey · Executive VP & CFOFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
+0.1 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The evidence balance is Mixed (+0.1 of a possible +2; was +0.1 before debate) · confidence high. Reported revenues were $102,871,000,000 for fiscal Q3 2025 (fiscal quarter ended 2025-10-22), $100,426,000,000 for fiscal Q1 2026 (fiscal quarter ended 2026-04-29) and $106,096,000,000 for fiscal Q2 2026 (fiscal quarter ended 2026-07-29). Operating income swung from a loss of $3,207,000,000 in fiscal Q3 2025 to positive $4,680,000,000 in fiscal Q1 2026 and $4,703,000,000 in fiscal Q2 2026, with net income following a similar pattern: -$3,975,000,000 in fiscal Q3 2025 to $2,943,000,000 and $2,979,000,000 in the two subsequent quarters.
Earnings per share moved from diluted -$3.13 in fiscal Q3 2025 to $2.30 in fiscal Q1 2026 and $2.31 in fiscal Q2 2026 while shares outstanding ticked up from 1,268,326,375 (as of 2025-07-23) to 1,278,970,369 (as of 2026-07-29). Cash and cash equivalents declined then recovered across the year (peaking near $11,787,000,000 as of 2025-06-30 and $11,329,000,000 as of 2026-06-30). Market signals show low market beta ( beta = 0.17, correlation = 0.07), mixed short-term momentum (momentum_3m = -13.6%, momentum_6m = +21.2%, momentum_12_1 = +26.7%), a golden cross with price slightly above moving averages, moderate volatility (30‑day annualized ~ 26.4%), dividend yield 2.88% and price metrics that diverge by basis (P/FCF = 6.65, P/E ttm = 40.51, EV/EBITDA = 13.42).
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Reported revenues were $102,871,000,000 for fiscal Q3 2025 (2025-07-01 to 2025-09-30, 3mo), $100,426,000,000 for fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and $106,096,000,000 for fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo).
XBRL companyfacts · 0000064803-25-000037Operating income moved from a loss of $3,207,000,000 in fiscal Q3 2025 (2025-07-01 to 2025-09-30, 3mo) to positive operating income of $4,680,000,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and $4,703,000,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo).
XBRL companyfacts · 0000064803-25-000037Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The 10-K filed 2026-02-10 explicitly identifies certain sections (including the "Trends and Uncertainties" portion of MD&A in Item 7, "Quantitative and Qualitative Disclosures About Market Risk" in Item 7A, "Government Regulation" in Item 1, and "Risk Factors" in Item 1A) as containing forward-looking statements.
10-K filed 2026-02-10Management characterizes the company's ambition and strategy in the 10-K filed 2026-02-10 as: "Our ambition at CVS Health is to be America’s most trusted health care company... Our strategy is focused on simplifying health care experiences, improving engagement, lowering costs and delivering better health outcomes."
10-K filed 2026-02-10Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
CVS's beta versus SPY is 0.17 and its correlation with SPY is 0.07 as of 2026-10-16, indicating low systematic sensitivity to the broad market.
Moneyta signal set · 2026-10-16Shorter-term and multi-horizon momentum signals are mixed: momentum_3m is -13.6% while momentum_6m is +21.2% and momentum_12_1 is +26.7% as of 2026-10-16.
Moneyta signal set · 2026-10-16weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of the 13F reporting period ended 2026-06-30, institutional holders reported a total reported position value of "$116.13B" in the company.
13F holdings · 2083 filers · as of 2026-06-30The top five reported institutional holders and their reported position values in the 2026-06-30 13F were BlackRock, Inc. "$12.75B", VANGUARD CAPITAL MANAGEMENT LLC "$8.62B", Capital World Investors "$7.75B", STATE STREET CORP "$6.24B", and Dodge & Cox "$5.17B".
13F holdings · 2083 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Two press releases on 15 October 2026 describe a new CVS Health collaboration with The Midlife Collective to study and address women's midlife health.
News · finance.yahoo.com · 2026-10-15The same collaboration was published via a PR distribution outlet on 15 October 2026.
News · prnewswire.com · 2026-10-15Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
Under the model inputs and market price of $92.36, the implied free cash flow (FCF) growth rate the price would justify is -15.59% per year (implied_growth = -0.1559).
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve‑month free cash flow is $17,865,000,000 and FCF per share is $13.8811.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several company-specific operational and market signals together support a favorable read. Reported quarterly fundamentals show a meaningful operational turnaround from a loss to recurring positive operating income, net income and diluted EPS across the most recent quarters (fundamentals-1, fundamentals-2, fundamentals-3), while revenues have remained at elevated levels (fundamentals-0). Cash-generation metrics are strong on a trailing‑twelve‑month basis (valuation-1) and the price-to‑FCF multiple is low (valuation-2), which, paired with sizable institutional ownership growth and large reported position value (ownership-0, ownership-2), suggests market participants are allocating to the company. Market technicals and relative-strength measures are supportive of positive investor sentiment (market-2, market-3, market-7) and income characteristics show a meaningful dividend yield and growth (market-6). In addressing bearish points: the negative news about a settlement (news-2, news-3) and a modest increase in shares outstanding (fundamentals-4) are factual but appear measured against the company’s reported cash flow and institutional support (valuation-1, ownership-0).
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.39
36 surviving claims rest on 13 distinct sources; the heaviest analyst carries 22% of them, and 97% of what the desk raised survived the debate.
The read rests on a moderate spread of sources but a small number of them carry a disproportionate share of claims, so individual source errors could move conclusions meaningfully. A single analyst accounts for a sizable slice of the surviving claims and the high survival rate through desk debate suggests limited internal pushback, which reduces the robustness of conclusions against overlooked mistakes or biased inputs.
Peer context · computed, not argued
12-1 momentum ranks 2nd of 4 in Healthcare Plans (as of 2026-10-16).
6-month relative strength ranks 3rd of 4 in Healthcare Plans (as of 2026-10-16).
90-day volatility ranks 3rd of 4 in Healthcare Plans (as of 2026-10-16).
dividend yield ranks 1st of 4 in Healthcare Plans (as of 2026-10-16).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
11 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.5 to the score
6 documents· 3 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+0.7 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.5 to the score
2 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+1.0 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on CVS Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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Educational analysis of published data. Moneyta does not give investment advice or make recommendations.