Shares of CVS Health Corp. CVS,
changed little in the pre-negotiation on Tuesday, after the drugstore and health benefit company reported fourth-quarter earnings and revenue that beat expectations. In the previous year, net income fell to $ 973 million, or 74 cents per share, to $ 1.75 billion, or $ 1.34 per share. Excluding one-time items, adjusted earnings per share fell to $ 1.30 from $ 1.73, but beat the FactSet consensus of $ 1.24. Total revenue increased 4.0% to $ 69.55 billion, above the $ 68.73 billion FactSet consensus. Under CVS’s business segments, everyone is beating expectations, with pharmacy services revenue up 1.9% to $ 36.36 billion amid continued price compression, retail / long-term care revenue up 6.6% to $ 24.06 billion and healthcare benefits increased by 11.4% to $ 19.10 billion. For 2021, CVS expects the adjusted profit of $ 7.39 to $ 7.55, compared to the FactSet consensus of $ 7.54. The company said it has administered more than 3 million COVID-19 vaccines in more than 40,000 long-term care facilities. The stock has risen 1.0% over the past three months, while the S&P 500 SPX,
it has advanced 8.5%.
