CVS Health raised its full-year profit forecast after exceeding Wall Street quarterly earnings estimates on Thursday, as tight oversight of higher medical costs led to improved performance for its Aetna health insurance business.

CVS Health Corp. raised its profit guidance for the year after posting strong results in its health insurance and pharmacy businesses, an encouraging sign after a spate of missteps by rival insurers.

Shares of CVS Health jumped in premarket trading Thursday after the healthcare and pharmacy giant reported better-than-expected second-quarter earnings and lifted its full-year forecast, marking its third consecutive quarter of outperforming Wall Street estimates.