Shares of CVS Caremark Corp (NYSE: CVS) fell 4.99 percent today, from $34.65 to $32.92, after it released its fourth quarter 2010 financial results. The company beat analysts estimates but its EPS and revenues fell from the prior year. This comes just a few weeks after the company, which had a 1.40 percent dividend yield on February 3rd, increased its quarterly dividend by 42 percent. Investors didn’t seem swayed by the fact that CVS, which is the largest provider of pharmacy services in the U.S., is expected to have its Medicare prescription drug plan pharmacy business more than double thanks to its acquisition of Universal American’s Medicare Part D.
Others in the sector saw increases in stock prices. Rite Aid (NYSE: RAD) rose 1.61 percent from $1.24 to $1.26 despite RAD recently being named the Bear of the Day by Zacks Investment Research. Walgreen (NYSE: WAG) rose .81 percent from $41.97 to $42.31.
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*Prices and charts courtesy of Yahoo Finance.
