Overview
CVS hosted its 2025 Investor Day on Tuesday morning. CVS walked Wall Street analysts, investors, and nerds like Martin and me through its strategy and guidance for the coming three years. This document summarizes our takeaways from the session.
The overall theme of the morning was highlighted well in this quote from CVS’s CEO David Joyner in his opening remarks:
“We righted the ship, charted a new path forward, and now entering parts of the market that either others can’t and/or are not equipped to be able to compete”
As we dive into this Investor Day, it’s worth keeping in mind the broader context for this session. Many of the core businesses that CVS operates in have been facing “100-year storms” all at once. CVS is coming off a really challenging 2024, one in which it revised guidance down multiple times and faced existential questions as Wall Street lost confidence in management’s ability to execute on the theory of a vertically integrated healthcare business. This quote from a Wall Street Journal article in October 2024 highlighted this sentiment well:
“Investors have lost faith in management’s ability to hit their forecasts,” said Raymond James analyst John Ransom. “The strategy of putting all this stuff together can work, they just haven’t managed to pull it off.”
The past twelve months have marked the start of the recovery — as Joyner said at the Investor Day this week, CVS leadership feels it has righted the ship, and it is charting a new path forward. It’s clear that the investor community has responded well to this new path forward, as the stock is up 60%+ over the past twelve months:
Source: Google Finance, 12/12/25
The stock rose another couple of percent after the Investor Day on Tuesday, providing a good indicator of how the market reacted to the session. Members can continue reading our key takeaways from the session below the break. Martin and I also discussed the session here, if you’d prefer to listen in:
Key Takeaways
Join the Health Tech Nerds Community to access.
Join thousands of other innovators in healthcare accelerating their learning in healthcare.
Join the Health Tech Nerds CommunityA community membership gets you:
- Private Slack Community: Exchange ideas, lessons learned and insights with your peers in real time.
- Exclusive insights & expert content: Access deep dives, case studies, and curated wisdom, plus live sessions with industry leaders.
- Networking made easy: Get curated matches, connect through the member directory, and join or host local meetups.
- Proven tools & resources: Save time with research, templates, and community-sourced solutions.