CVS Health on Feb. 10: What Investors Should Know Before Earnings

Mark your calendar for Feb. 10—that’s when CVS Health will share its fourth-quarter results and provide guidance for the year ahead. The pharmacy and healthcare company has experienced a dramatic turnaround recently, but whether that momentum continues depends largely on what management reveals on that critical date. For investors weighing whether to buy before the earnings announcement or wait until after, understanding the company’s recent trajectory and valuation is essential.

A Volatile Journey: From 2024 Crash to 2025 Rally

CVS Health has been nothing short of a rollercoaster for shareholders. After plummeting 43% in 2024, the stock staged an impressive recovery by surging 77% in 2025. Under new CEO David Joyner, who assumed leadership in October 2024, the company has started to show signs of stabilization and improvement. The turnaround wasn’t accidental—management has been taking concrete steps to strengthen operations, including restructuring clinic expansion and closing underperforming locations to boost profitability.

This recent positive momentum is encouraging, but it also raises a natural question: has the bulk of good news already been priced in, or is there still upside potential heading into Feb. 10?

Why the Feb. 10 Earnings Call Matters

Unlike some healthcare stocks that experience dramatic price swings on earnings day, CVS Health typically shows more modest reactions to quarterly results. However, that doesn’t mean Feb. 10 is unimportant. The company’s fourth-quarter performance and forward guidance will provide crucial insight into whether the operational improvements are sustainable and whether 2026 offers genuine growth potential.

When CVS reported earnings last October, it beat expectations and raised guidance—a strong signal that the company’s turnaround strategy was working. Since then, the stock has remained relatively steady, suggesting investors are cautiously optimistic but waiting for more proof points. The Feb. 10 results and management commentary could either reinforce confidence or reveal challenges ahead.

Valuation Story: Still Attractive After the Rally

Despite the 77% rally in 2025, CVS Health’s valuation remains surprisingly reasonable. The stock trades at a forward price-to-earnings multiple of just 11, compared to the S&P 500 average of over 22. This conservative valuation suggests that even after the recent surge, expectations for CVS remain modest.

That’s actually good news for potential buyers. The company hasn’t become overpriced relative to market standards, which means there’s room for the stock to run higher if the Feb. 10 results meet or exceed expectations. The valuation also provides a margin of safety—the stock won’t crater if the company delivers merely adequate results rather than blockbuster numbers.

Making Your Investment Decision

So should you buy CVS Health before Feb. 10, or wait? The answer depends on your investment style. From a fundamental perspective, CVS is a solid long-term holding. The company operates diverse business segments spanning pharmacy benefits management, health insurance, and retail pharmacy, creating a well-rounded healthcare investment. The improvements underway are real, and the valuation is compelling.

However, there’s no compelling reason to rush. History suggests CVS won’t experience a dramatic price movement based purely on earnings, so waiting a few extra days won’t cost you much. By holding until after Feb. 10, you’ll gain valuable information from management about 2026 opportunities and challenges, which could refine your investment thesis. Whether you buy before or after Feb. 10, the key is making a decision based on your own investment timeline and conviction in the company’s turnaround story.