CVS’s stock soared toward a three-month high after its quarterly profit beat expectations by the widest margin in more than four years.

CVS Health reported a smaller-than-expected drop in fourth-quarter profit on Wednesday as its pace of medical cost increases slowed and revenue at its pharmacy business jumped, sending its shares up more than 12% in premarket trading.

Shares of CVS Health (CVS) surged in premarket trading Wednesday after the health insurance and pharmacy giant reported better-than-expected fourth-quarter results. CVS reported adjusted earnings per share (EPS) of $1.

CVS Health posted stronger-than-expected fourth quarter earnings Wednesday, including a narrowing of its key benefit-expense ratio, sending shares in the health insurance and retail giant soaring in early Wednesday trading.

CVS Health Corporation CVS posted adjusted earnings per share (EPS) of $1.19 in the fourth quarter of 2024, down 43.9% year over year. However, the metric topped the Zacks Consensus Estimate by 33.7%.