Herbalife Ltd. provides health and wellness products in North America, Mexico, South and Central America, Europe, the Middle East, Africa, China, and the Asia Pacific. It offers products in the areas of weight management; targeted nutrition; energy, sports, and fitness; outer nutrition; and literature and promotional items. The company also provides weight management products, including meal replacement products, protein shakes, drink mixes, weight loss supplements, healthy snacks, and metabolism boosting teas; targeted nutrition products, which comprise functional beverages, and dietary and nutritional supplements that contain herbs, vitamins, minerals, and other natural ingredients; outer nutrition products, such as facial skin, body, and hair care products; and energy, sports, and fitness products, including N-R-G tea and energy drink products. In addition, it offers literature, promotional, and other materials that comprise start-up kits, sales tools, and educational materials. The company sells its products through sales representatives, independent service providers, and company-operated retail platforms. Herbalife Ltd. was formerly known as Herbalife Nutrition Ltd. and changed its name to Herbalife Ltd. in April 2023. The company was founded in 1980 and is headquartered in Los Angeles, California.

Herbalife appears to be a company with a very cheap valuation, but with notable balance sheet and quality risks that do not allow for an aggressive increase in the target price. Based on valuation multiples, the stock trades significantly below the industry median: a P/E of 6.22, P/S of 0.27, and P/FCF of 3.69 point to clear undervaluation; however, part of this discount is explained by a weak capital structure and limited earnings durability. Particularly concerning is a P/B ratio close to zero and negative shareholders’ equity, which makes traditional balance sheet-based valuation largely uninformative and increases risk for shareholders. At the same time, operating efficiency is generally decent: a gross margin of around 77.9% and an operating margin of 9.68% look stronger than the industry average, while ROA and ROI are also above the median, indicating the business’s ability to generate returns on assets and invested capital. On the other hand, net profit margin is below the industry level, and EPS remains weak and noticeably below historically higher values, which limits confidence in sustainable earnings growth. Revenue and gross profit show moderate year-over-year growth, while EBITDA and operating profit remain positive, but without any clear acceleration. Liquidity is acceptable, but not comfortable: a current ratio of 1.13 and a quick ratio of 0.74 mean the margin of safety in working capital is limited. Long-term debt of nearly $2.0 billion combined with negative shareholders’ equity is the main fundamental risk, restraining any re-rating even at low multiples. The dividend yield is high, which supports the stock’s appeal for income-oriented strategies, but it does not fully offset the balance sheet risks. Overall, the fundamentals support a moderate discount to the current target forecast rather than an increase. For an investor, this is not a story about strong valuation expansion, but rather about a potentially cheap stock with high income, where upside is limited by leverage and a weak accounting base.

Herbalife Ltd.

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Сильный индекс, значительно вырос. Рынок на стороне быков.

Strong index, significantly up. The market is on the bulls' side.

Средний индекс, значительно вырос. Увеличился приток средств в лонги.

Medium index, significantly up. The inflow of funds into longs has increased.

HLF appears undervalued on multiples and strong on margin, but negative equity and high debt limit its re-rating potential.

Key Points
142,919 shares sold directly for a total of ~$1.93 million, based on a weighted average price of $13.52 per share on May 11 and May 12, 2026.
The transaction represented 79.60% of Lamberti's direct holdings, reducing his direct stake from 179,543 to 36,624 shares.
No indirect or derivative involvement; all shares sold were directly owned common stock.
This is Lamberti's only open-market sale since at least August 2023, accounting for the entirety of his net share disposals during the period, with remaining capacity now limited.
Frank Lamberti, Chief Commercial Officer of Herbalife Ltd. (NYSE:HLF), reported the direct sale of 142,919 common shares across two transactions on May 11 and May 12, 2026, for a total estimated value of ~$1.93 million according to the SEC Form 4 filing.
Transaction summary
Shares sold (direct)
142,919
Transaction value
~$1.93 million
Post-transaction shares (direct)
36,624
Post-transaction value (direct ownership)
~$499K
Transaction value based on SEC Form 4 weighted average purchase price ($13.52); post-transaction value based on May 12, 2026 market close price.
Key questions
What proportion of Lamberti's direct equity position was sold in this transaction?
This sale accounted for 79.60% of his direct holdings, reducing the position from 179,543 shares to 36,624 shares.
Was this activity linked to any derivative exercise, indirect holdings, or affiliated entities?
No; the disposition involved only directly held common shares, with no options exercised and no shares held through trusts, LLCs, or other entities after the transaction.
How does this compare to Lamberti's historical trading activity in Herbalife?
This is the sole open-market sale by Lamberti since at least August 2023; prior filings were administrative (grant/withholding) events with no change to net holdings.
What is the context for timing and remaining capacity?
The transaction occurred after an 93.06% one-year price increase (as of May 12, 2026), and with just 20.4% of his pre-sale shares remaining, further large-volume sales would require additional vesting or grants.
Company overview
Revenue (TTM)
$5.13 billion
Net income (TTM)
$239.80 million
Price (as of market close 5/12/26)
$13.52
1-year price change
93.06%
* 1-year price change calculated using May 12th, 2026 as the reference date.
Company snapshot
Offers a portfolio of nutrition products, including meal replacements, protein shakes, dietary supplements, energy drinks, and personal care items, with weight management and targeted nutrition as primary revenue drivers.
Operates a direct-selling business model, distributing products primarily through independent service providers and sales representatives, complemented by company-operated retail platforms.
Targets health-conscious consumers seeking nutrition, wellness, and weight management solutions across North America, Latin America, EMEA, China, and Asia Pacific regions.
Herbalife Nutrition Ltd. is a global nutrition company with a broad geographic footprint and a focus on science-based products for weight management and wellness. The company leverages a direct-selling model, enabling scalable distribution and strong engagement with end consumers. Herbalife's strategy centers on product innovation and expanding its network of independent distributors to maintain competitive advantage in the consumer nutrition sector.
What this transaction means for investors
Lamberti’s sale of Herbalife stock comes after the first significant rebound in the stock since the end of the pandemic. The stock had struggled post-pandemic amid declining sales, leading to a decline of more than 70% over the last five years.
Herbalife stock continues to trade at a considerable discount to those highs earlier in the decade. Nonetheless, the stock rebounded by 93.06% over the previous year amid recovering sales growth. In the first quarter of 2026, net sales rebounded by 8%, well above the 1% gain in 2025.
Although the filing does not reveal why Lamberti sold shares, the fact that he sold 79.6% of his direct holdings may be a cause for concern among investors.
This does not mean the rally has come to an end. Moreover, it sells at a P/E ratio of 6, a low level even when considering that its P/E ratio was 14 five years ago. Still, considering that Herbalife stock has pulled back since Lamberti sold shares, investors have to wonder whether the recent pullback in the consumer discretionary stock will continue.
Should you buy stock in Herbalife right now?
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Chief Commercial Officer Sells 143,000 Shares of Herbalife for $1.9 Million

Breaking Down Jamie Dimon’s Investing Letter

An updated edition of the January 13, 2026, article.
The health and fitness industry has grown from a niche segment into a powerful global movement, driven by a broad shift toward healthier lifestyles. Consumers are no longer content with occasional exercise — they increasingly seek balanced nutrition, structured workout routines and well-rounded wellness solutions. Demand is rising across gyms, dietary supplements and personalized programs, while technological advances have made managing personal health easier and more engaging. Wearable devices, fitness platforms and virtual coaching services now provide real-time insights, tailored guidance and ongoing motivation. At the same time, greater awareness of obesity, chronic illnesses and mental health has strengthened the emphasis on preventive, everyday wellness.
Major technology companies are helping accelerate this transformation. Apple AAPL, through its Apple Watch ecosystem and Fitness+ platform, integrates activity tracking with guided workout experiences. Amazon AMZN is expanding its presence in healthcare via One Medical, combining AI-powered tools with virtual care services to enhance accessibility and convenience. Together, these innovations are reshaping how individuals approach wellness, blending fitness, healthcare and daily life while driving industry growth.
Market forecasts highlight the scale of this opportunity. The global health and wellness market is expected to reach $11 trillion by 2034 at a steady 5.4% CAGR from 2025. Preventive healthcare initiatives, workplace wellness programs and supportive policy measures continue to boost demand. Meanwhile, specialized offerings — such as boutique fitness studios and premium wellness clubs — reflect a broader, more holistic focus on physical, nutritional and mental well-being. This evolving landscape is creating fresh growth opportunities for companies like Garmin Ltd. GRMN, Herbalife Ltd. HLF and American Well Corporation AMWL.
For investors, the takeaway is clear: wellness represents a durable, long-term theme. As consumers place greater priority on their health, demand for fitness, nutrition and digital health solutions is likely to stay strong. Our Health & Fitness Screen highlights key companies in this space — including the three mentioned above — helping investors identify opportunities in a market poised for sustained growth.
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Garmin develops a wide range of GPS-enabled and sensor-based devices designed for people who live active lifestyles. Its offerings span several markets, including fitness, outdoor recreation, aviation and marine navigation. Within the health and fitness category, Garmin provides running watches under the Forerunner series, cycling computers, smartwatches, heart-rate monitors, smart scales and other performance-tracking tools. These products monitor metrics such as activity levels, workouts and wellness data, while the Garmin Connect digital platform allows users to track progress, analyze training results and interact with a broader fitness community.
Over the years, Garmin has expanded its fitness ecosystem by integrating advanced sensors, navigation capabilities and cloud-based software into its devices. Many products combine satellite navigation systems with biometrics, activity tracking and health monitoring features to support running, cycling and other athletic pursuits. The Zacks Rank #1 (Strong Buy) company has also developed related accessories and indoor training equipment, such as smart trainers and connected bike systems, allowing users to measure performance and improve training outcomes across different sports environments. You can see the complete list of today’s Zacks #1 Rank stocks here.
Garmin’s continued investment in research and development has enabled it to introduce new products and features while improving existing devices. Its vertically integrated design and manufacturing capabilities allow engineering and production teams to collaborate closely, helping bring innovations to market more quickly. As consumer demand for wearable technology and performance tracking tools grows, Garmin continues to position its products as reliable tools that support healthier, more active lifestyles worldwide.
Herbalife is a global nutrition company focused on helping consumers improve their health and wellness through science-based products. The #1 Ranked company sells a wide range of offerings, including weight-management shakes, protein supplements, functional beverages, vitamins and sports nutrition products. Its product portfolio also includes energy drinks and skincare items designed to support active lifestyles and overall well-being. These products are distributed in dozens of markets through a direct-selling network of independent members who provide coaching and guidance to customers pursuing nutrition and fitness goals.
Over time, Herbalife has expanded its offerings to address changing consumer preferences for healthier living. The company continues to develop new products and improve existing ones through internal research teams and collaborations with scientific advisors and universities. Recent initiatives include new metabolic health products, healthier snack options and nutrition formulas designed to support long-term wellness and cellular health. These innovations are intended to help consumers meet evolving dietary needs and maintain active lifestyles.
Herbalife’s business model also emphasizes community-based engagement around nutrition and fitness. Through programs such as nutrition clubs, fitness camps and wellness evaluations led by independent members, the company promotes daily product consumption alongside lifestyle coaching. These initiatives encourage ongoing interaction between distributors and customers while supporting broader health and fitness goals. Combined with continuous product development and global distribution, these efforts have helped Herbalife remain a prominent participant in the wellness and nutrition industry.
American Well Corporation, widely known as Amwell, is a digital healthcare platform focused on expanding the virtual delivery of care across a wide range of settings. Its primary offerings include enterprise telehealth software, clinical services through Amwell Medical Group and the Converge platform, which connects patients, providers and payers within a unified ecosystem. By facilitating services such as primary care, behavioral health, chronic condition management and wellness coaching, Amwell operates at the intersection of healthcare and the broader health and fitness landscape. These capabilities make medical advice, mental health support and lifestyle guidance more accessible through a digital-first approach.
Amwell has evolved from a traditional telehealth provider into a more comprehensive digital care platform. The launch of Converge integrated previously separate services, simplifying access for health systems, insurers and employers. This integration has enabled expansion into chronic disease management, preventive care and wellness programs. The Zacks Rank #2 (Buy) company has also broadened its specialty services, particularly in behavioral health and remote patient monitoring, while strengthening partnerships with leading healthcare organizations. These developments highlight Amwell’s transition into a platform that not only addresses immediate care needs but also promotes long-term health and wellness.
In recent years, Amwell has taken steps to strengthen its financial position while continuing to invest in innovation. Cost-reduction initiatives, divestitures of non-core assets and a greater focus on scaling the Converge platform have helped streamline operations. At the same time, the company has introduced new digital tools, expanded collaborations with third-party service providers and enhanced patient engagement features. Together, these efforts underscore Amwell’s commitment to delivering holistic health solutions. By integrating clinical care, lifestyle support and advanced technology, the company has positioned itself as a key enabler of digital wellness, aiming to remain at the forefront of the evolving health and fitness-focused market.
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Best Health & Fitness Stocks to Buy Now for Strong Growth

(RTTNews) - Herbalife Ltd. (HLF), a health and wellness company, reported revenue growth for the fourth quarter and full year 2025. The company also expects improved revenue for fiscal 2026.
Following the news, HLF surged above 14% at $18.95 in the overnight market.
For the fourth quarter, adjusted net income increased to $47.5 million from $36.8 million a year ago.
Adjusted diluted EPS jumped to $0.45 from $0.36 in the year-ago period.
However, net income attributable to Herbalife declined to $85.4 million from $ 177.9 million in the last year.
On a per-share basis, net income slipped to $0.81 from $1.74 in the prior year.
Adjusted EBITDA of $156.1 million from $150.1 million in the prior year.
Net sales increased 6.3% to $1.28 billion from $1.21 billion in the prior year. This exceeds the guidance for 1.5% to 5.5% growth for the fourth quarter of 2025.
For the full year 2026, adjusted net income climbed to $219.4 million from $198.9 million in the prior year.
Adjusted diluted EPS increased to $2.12 from $1.96 in the last year.
However, net income attributable to Herbalife declined to $228.3 million from $254.3 million in the prior year.
On a per share basis, net income slipped to $2.20 from $2.50 in the year ago.
Adjusted EBITDA improved to $657.6 million from $634.8 million a year ago.
Net sales for the full year were up 0.9% to $5.04 billion from $4.99 billion in the prior year. This exceeds the full-year sales guidance range of negative 0.3% to 0.7%, which was tightened in November 2025 from the earlier 1% to 3% range provided in August 2025.
Looking ahead, for the first quarter of 2026, Herbalife expects revenue on a reported basis to increase 3% to 7% from $1.221.7 million in the year-ago period.
On a reported basis, Adjusted EBITDA is expected to be in the range of $155 to $175 million compared with $164.9 million a year ago.
For the full year 2026, Herbalife expects net sales on a reported basis to increase in the range 1 % to 6% from $5037.5 million in 2025.
Adjusted EBITDA is expected to be in the range of $670 million to $710 million versus $657.6 million reported in 2025.
HLF has traded between $5.57 and $17.93 in the last 1 year. The stock closed Wednesday's trade at $16.54, up 3.76%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Herbalife Q4 Revenue Improves; Sees Higher Revenue For FY26

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Herbalife (HLF) Q4 2025 Earnings Call Transcript

Herbalife Ltd (HLF) came out with quarterly earnings of $0.45 per share, missing the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -5.26%. A quarter ago, it was expected that this company would post earnings of $0.47 per share when it actually produced earnings of $0.5, delivering a surprise of +6.38%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Herbalife Ltd, which belongs to the Zacks Retail - Pharmacies and Drug Stores industry, posted revenues of $1.28 billion for the quarter ended December 2025, missing the Zacks Consensus Estimate by 14.47%. This compares to year-ago revenues of $1.21 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Herbalife Ltd shares have added about 23.7% since the beginning of the year versus the S&P 500's zero return.
What's Next for Herbalife Ltd?
While Herbalife Ltd has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Herbalife Ltd was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.70 on $1.3 billion in revenues for the coming quarter and $2.51 on $5.4 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Pharmacies and Drug Stores is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Retail-Wholesale sector, Sweetgreen, Inc. (SG), has yet to report results for the quarter ended December 2025. The results are expected to be released on February 26.
This company is expected to post quarterly loss of $0.31 per share in its upcoming report, which represents a year-over-year change of -24%. The consensus EPS estimate for the quarter has been revised 13.4% lower over the last 30 days to the current level.
Sweetgreen, Inc.'s revenues are expected to be $159.69 million, down 0.8% from the year-ago quarter.
Should You Invest in Herbalife Ltd (HLF)?
Before you invest in Herbalife Ltd (HLF), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.
Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Herbalife Ltd (HLF) Misses Q4 Earnings and Revenue Estimates

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in AST SpaceMobile Inc (Symbol: ASTS), where a total volume of 81,604 contracts has been traded thus far today, a contract volume which is representative of approximately 8.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 53% of ASTS's average daily trading volume over the past month, of 15.4 million shares. Particularly high volume was seen for the $80 strike call option expiring January 02, 2026, with 5,184 contracts trading so far today, representing approximately 518,400 underlying shares of ASTS. Below is a chart showing ASTS's trailing twelve month trading history, with the $80 strike highlighted in orange:
Herbalife Ltd (Symbol: HLF) options are showing a volume of 10,917 contracts thus far today. That number of contracts represents approximately 1.1 million underlying shares, working out to a sizeable 50.8% of HLF's average daily trading volume over the past month, of 2.2 million shares. Especially high volume was seen for the $12.50 strike put option expiring December 18, 2026, with 4,074 contracts trading so far today, representing approximately 407,400 underlying shares of HLF. Below is a chart showing HLF's trailing twelve month trading history, with the $12.50 strike highlighted in orange:
And Starbucks Corp. (Symbol: SBUX) saw options trading volume of 46,073 contracts, representing approximately 4.6 million underlying shares or approximately 49.7% of SBUX's average daily trading volume over the past month, of 9.3 million shares. Particularly high volume was seen for the $100 strike put option expiring January 16, 2026, with 10,897 contracts trading so far today, representing approximately 1.1 million underlying shares of SBUX. Below is a chart showing SBUX's trailing twelve month trading history, with the $100 strike highlighted in orange:
For the various different available expirations for ASTS options, HLF options, or SBUX options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Tuesday Option Activity: ASTS, HLF, SBUX

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Herbalife Ltd (Symbol: HLF), where a total of 16,258 contracts have traded so far, representing approximately 1.6 million underlying shares. That amounts to about 91.5% of HLF's average daily trading volume over the past month of 1.8 million shares. Particularly high volume was seen for the $10.50 strike call option expiring November 28, 2025, with 5,611 contracts trading so far today, representing approximately 561,100 underlying shares of HLF. Below is a chart showing HLF's trailing twelve month trading history, with the $10.50 strike highlighted in orange:
Stoke Therapeutics Inc (Symbol: STOK) saw options trading volume of 10,030 contracts, representing approximately 1.0 million underlying shares or approximately 90% of STOK's average daily trading volume over the past month, of 1.1 million shares. Particularly high volume was seen for the $25 strike call option expiring November 21, 2025, with 5,003 contracts trading so far today, representing approximately 500,300 underlying shares of STOK. Below is a chart showing STOK's trailing twelve month trading history, with the $25 strike highlighted in orange:
And Circle Internet Group Inc Class A (Symbol: CRCL) options are showing a volume of 146,016 contracts thus far today. That number of contracts represents approximately 14.6 million underlying shares, working out to a sizeable 85.8% of CRCL's average daily trading volume over the past month, of 17.0 million shares. Especially high volume was seen for the $80 strike call option expiring November 28, 2025, with 8,656 contracts trading so far today, representing approximately 865,600 underlying shares of CRCL. Below is a chart showing CRCL's trailing twelve month trading history, with the $80 strike highlighted in orange:
For the various different available expirations for HLF options, STOK options, or CRCL options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Friday Option Activity: HLF, STOK, CRCL

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Citigroup Inc (Symbol: C), where a total of 149,019 contracts have traded so far, representing approximately 14.9 million underlying shares. That amounts to about 109.8% of C's average daily trading volume over the past month of 13.6 million shares. Particularly high volume was seen for the $45 strike call option expiring January 16, 2026, with 36,180 contracts trading so far today, representing approximately 3.6 million underlying shares of C. Below is a chart showing C's trailing twelve month trading history, with the $45 strike highlighted in orange:
Herbalife Ltd (Symbol: HLF) options are showing a volume of 13,297 contracts thus far today. That number of contracts represents approximately 1.3 million underlying shares, working out to a sizeable 108.2% of HLF's average daily trading volume over the past month, of 1.2 million shares. Especially high volume was seen for the $10 strike call option expiring February 20, 2026, with 11,596 contracts trading so far today, representing approximately 1.2 million underlying shares of HLF. Below is a chart showing HLF's trailing twelve month trading history, with the $10 strike highlighted in orange:
And Broadcom Inc (Symbol: AVGO) saw options trading volume of 219,188 contracts, representing approximately 21.9 million underlying shares or approximately 103.6% of AVGO's average daily trading volume over the past month, of 21.1 million shares. Particularly high volume was seen for the $360 strike call option expiring October 31, 2025, with 26,175 contracts trading so far today, representing approximately 2.6 million underlying shares of AVGO. Below is a chart showing AVGO's trailing twelve month trading history, with the $360 strike highlighted in orange:
For the various different available expirations for C options, HLF options, or AVGO options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Friday Option Activity: C, HLF, AVGO

CVS Health Corporation CVS is scheduled to report second-quarter 2025 results on July 31, before the opening bell.
In the last reported quarter, the company’s adjusted earnings of $2.25 exceeded the Zacks Consensus Estimate by 31.58%. CVS Health beat estimates in each of the trailing four quarters, the average earnings surprise being 18.08%.
CVS Health Corporation Price and EPS Surprise
The Zacks Consensus Estimate for second-quarter revenues is pegged at $93.72 billion, suggesting growth of 2.7% year over year. The consensus estimate for second-quarter earnings is $1.47 per share, implying a 19.67% decline on a year-over-year basis.
Q2 Estimates for CVS Down 11 Cents in 3 Months
Earnings estimates for CVS Health have dropped from $1.58 per share to $1.47 for the second quarter over the past 90 days.
Image Source: Zacks Investment Research
Estimates have been southbound for this drugstore chain and pharmacy benefits manager over the past three months, influenced by a combination of operational cost pressures, legal headwinds, regulatory challenges and adverse policy developments. Elevated medical costs, particularly in Medicare Advantage, continue to put pressure on CVS Health’s margins, while one-time charges, including $387 million related to the Omnicare verdict, $247 million in ACO asset losses and a $448 million ACA-related reserve further weighed on performance. Additionally, CVS plans to close over 20 pharmacies in Arkansas following the passage of HB1150, a new law banning PBMs from owning pharmacies, intensifying regulatory scrutiny.
These closures, combined with broader PBM pressures and CVS Health’s planned 2026 exit from ACA exchanges, might have contributed to analysts revising Q2 earnings estimates downward despite the company raising its full-year outlook.
3 Factors to Focus on Ahead of CVS' Q2 Earnings
Aetna Recovery in Focus Amid Benefit Redesigns and Strategic Pricing: Aetna’s underperformance in 2024 was a key concern, driven by elevated utilization and margin pressure. However, CVS Health has positioned 2025 as a turnaround year for its Healthcare Benefits segment. CVS expects margin recovery in its Healthcare Benefits segment, driven by Medicare benefit redesigns, Medicaid rate adjustments and pricing changes in the ACA market. While membership held steady at about 27.1 million, the shift toward more profitable bronze plans and tighter enrollment control likely improved profitability. A slowdown in inpatient cost growth also points to better medical cost management. These efforts are likely to have supported second-quarter revenues.
The Zacks Consensus Estimate for CVS’ Health Care Benefits arm revenues is pegged at $34.6 billion for the second quarter of 2025.
PBM Strength and Drug Cost Management: Ahead of CVS Health’s second-quarter results, its pharmacy benefit manager, Caremark, is expected to have played a critical role in mitigating the impact of rising branded drug costs despite intensifying regulatory scrutiny. CVS continues to highlight the value of PBMs, noting nearly $1 billion in savings from biosimilar conversions. Its CostVantage and TrueCost models, now covering over 75% of Caremark’s commercial members, aim to boost pricing transparency and lower costs by tying reimbursements to drug prices and passing rebates directly to patients. These initiatives likely contributed to Caremark’s performance during the second quarter.
The Zacks Consensus Estimate for CVS’s Health Services segment revenues stands at $43.52 billion for the second quarter of 2025.
Pharmacy & Consumer Wellness: In the to-be-reported quarter, CVS Health’s Pharmacy & Consumer Wellness segment is expected to have benefited from increased prescription volumes and a favorable pharmacy drug mix, helping offset continued reimbursement pressure and soft front store traffic. While the challenging consumer environment and recent generic launches may have weighed on profitability, CVS likely saw support from its completed three-year store closure initiative and progress in footprint optimization, both aimed at boosting efficiency. Additionally, same-store sales and prescription volumes are likely to have remained positive year over year, supporting top-line growth.
The Zacks Consensus Estimate for the Pharmacy & Consumer Wellness segment is pegged at $32.16 billion for the second quarter of 2025.
CVS Shares Outperform S&P and Peers
During the second quarter of 2025 (ending June 30, 2025), shares of CVS Health gained 2.5%. The stock has underperformed the S&P 500’s 10.7% rise. The company's peers like Herbalife HLF and UnitedHealth Group UNH registered a respective decline of 2.2% and 40% in their stock prices during this period.
Q2 Price Comparison of CVS
Image Source: Zacks Investment Research
Valuation
From a valuation standpoint, CVS Health’s forward 12-month price-to-earnings (P/E) is 9.24X. This is a significant premium to Herbalife, with its current P/E being 4.51X. But it remains undervalued compared to UnitedHealth, whose current P/E is 12.27X.
Image Source: Zacks Investment Research
Image Source: Zacks Investment Research
Final Thoughts on CVS
With solid fundamentals, ongoing turnaround efforts and a strong history of beating earnings estimates, CVS Health, carrying a Zacks Rank #2 (Buy), looks like a smart pick ahead of its second-quarter results. While near-term pressures like high medical costs and regulatory hurdles remain, the company’s actions such as redesigning Aetna benefits, optimizing its retail footprint and improving drug pricing transparency through new PBM models, are starting to pay off. These moves could support long-term growth.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Indicator	TTM Median
P/E	6.22 19.49
Price/Sales	0.27 0.76
P/B	0.00 1.77
P/FCF	3.69 16.67

Indicator	TTM Median
ROE	0.00 14.73
ROA	8.62 6.75
ROI	16.71 9.35
Net Worth	1.60 1.25
Quick Ratio	0.74 0.79
Current Ratio	1.13 1.32

Indicator	TTM Median
Net Profit Margin	4.66 6.48
Operating Margin	9.68 8.48
Gross Margin	77.85 33.20
Return on tangible equity	0.00 23.46

Indicator	TTM Median
EPS	0.45 0.62
EPS Forecast	0.48 0.48
Revenue	1.32B 136.00M
Gross Profit	995.00M —
EBITDA	168.00M —

Herbalife Ltd.

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