5 Best Undervalued Stocks to Buy Under $100

​2. CVS Health Corporation (NYSE:CVS)

Price: $80.69

Fwd P/E Ratio: 11.45

Number of Hedge Fund Holders: 88

​CVS Health Corporation (NYSE:CVS) is one of the Best Undervalued Stocks to Buy Under $100. On May 5, the company announced that its pharmacy benefit arm is updating its commercial formularies effective July 1, 2026. This shift is aimed at lower-cost biosimilars over brand-name reference drugs.

​Management noted that the most prominent change includes replacing Stelara with two FDA-approved interchangeable biosimilars called Pyzchiva and Yesintek. As per the new arrangement, most members are expected to pay nothing out-of-pocket. The release highlighted that the expansion extends beyond Stelara into specialty categories, including multiple sclerosis and rare blood disorders.

​Moreover, the biosimilar alternatives to Tysabri and Soliris are also expected to gain preferred formulary status, thereby broadening affordable access across more conditions. CVS Health Corporation (NYSE:CVS) emphasized that all included biosimilars meet the same FDA standards for safety, effectiveness, and quality as their branded counterparts. These changes are based on three major priorities, including affordability, access, and long-term value for health plan sponsors and their members.

​In separate news, recently, on May 8, Wells Fargo analyst Stephen Baxter raised the firm’s price target on the stock from $102 to $103, while maintaining an Overweight rating on the shares. The rating is based on the company’s Q1 2026 results, which topped estimates. CVS Health Corporation (NYSE:CVS) posted $100.43 billion in revenue, reflecting 6.17% year-over-year increase and surpassing expectations by $5.14 billion. Moreover, the GAAP EPS of $2.30 also topped expectations by $0.37.

​CVS Health Corporation (NYSE:CVS) operates as a health solutions company.