CVS posts strong Q4 numbers, but pandemic weighs on results
CVS Health easily beat fourth-quarter expectations as revenue from COVID-19 testing and prescription growth helped counter hits from the on-going global pandemic. But the drugstore chain and pharmacy benefit manager also released on Tuesday a 2021 forecast that largely fell below Wall Street expectations. Its shares slid in training after markets opened. CVS Health drugstores have taken hits during the pandemic from fewer shoppers, and the company’s insurance business is seeing more COVID-19 claims. But CVS Health also is playing a growing role in COVID-19 testing and vaccine administration both in its stores and at long-term care locations.