RAD - Why did CVS Health stock slip today? Waning outlook for COVID-19 shots

CVS Health (CVS -5.5%) is on track to record the biggest intraday loss since November 2020 despite better-than-expected financials released by the company for Q4 2021 on Wednesday. Total revenue for the quarter jumped ~10% YoY, expanding the full-year revenue by ~9% YoY to $292.1B. During the year, CVS (NYSE:CVS), an operator of one of the largest pharmacy networks in the U.S., had conducted over 32M COVID-19 tests and administered more than 59M COVID-19 vaccines. Despite the ongoing pandemic, the company has opted to keep its 2022 guidance unchanged, indicating $8.10 – $8.30 adjusted EPS in line with the consensus of $8.27 per share. Speaking at the earnings call, CEO Karen Lynch noted that the visits to the company’s website grew by 55% in 2021 to over 2 billion visits. “We now serve 40 million customers digitally, up approximately 10% in the last six months alone,” she added. CFO Shawn Guertin

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Why did CVS Health stock slip today? Waning outlook for COVID-19 shots