Shares of CVS Health Corp. CVS,
little changed in the premarket trade on Tuesday, after the pharmacy and health care company reported fourth-quarter earnings and revenue that exceeded expectations. Net income fell to $ 973 million, or 74 cents per share, from $ 1.752 billion or $ 1.34 per share in the previous year. Excluding non-recurring items, adjusted earnings per share fell to $ 1.30 from $ 1.73, but topped the FactSet consensus of $ 1.24. Total revenue rose 4.0% to $ 69.555 billion, above the $ 68.73 million FactSet consensus. Among CVS’s business segments, they all exceeded expectations: revenue from pharmacy services fell 1.9% to $ 36.36 million amid continued price cuts, revenue from care throughout the time to 6.6% to $ 24.06 million and revenue from healthcare benefits that rose 11.4% to $ 19.10 million. For 2021, CVS expects an adjusted EPS of $ 7.39 to $ 7.55, compared to the $ 7.54 FactSet consensus. The company said it has administered more than 3 million COVID-19 vaccines at more than 40,000 long-term care centers. Shares have risen 1.0% in the past three months, while the S&P 500 SPX
has advanced 8.5%.