CVS Health (CVS) closed the most recent trading day at $84.48, moving -1.58% from the previous trading session. This change lagged the S&P 500's 0.34% gain on the day.Prior to today's trading, shares of the drugstore chain and pharmacy benefits manager had gained 0.39% over the past month. This has outpaced the Retail-Wholesale sector's loss of 1.38% and the S&P 500's loss of 0.12% in that time.Wall Street will be looking for positivity from CVS as it approaches its next earnings report date. This is expected to be November 3, 2021. On that day, CVS is projected to report earnings of $1.78 per share, which would represent year-over-year growth of 7.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $70.23 billion, up 4.74% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $7.77 per share and revenue of $282.99 billion, which would represent changes of +3.6% and +5.32%, respectively, from the prior year.Investors should also note any recent changes to analyst estimates for CVS. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.8% lower. CVS currently has a Zacks Rank of #3 (Hold).In terms of valuation, CVS is currently trading at a Forward P/E ratio of 11.04. Its industry sports an average Forward P/E of 9.7, so we one might conclude that CVS is trading at a premium comparatively.Meanwhile, CVS's PEG ratio is currently 1.73. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Retail - Pharmacies and Drug Stores was holding an average PEG ratio of 1.61 at yesterday's closing price.The Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 243, which puts it in the bottom 5% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CVS Health Corporation (CVS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research