NEW YORK (TheStreet) -- CVS Health Corp. (CVS) shares are down 0.33% to $85.84 on Tuesday after the pharmacy and consumer goods retailer announced its third quarter earnings results before the opening bell today.
CVS reported a 9% rise in adjusted earnings, excluding pre-tax losses, to $1.15 per diluted share, ahead of analysts estimates of $1.13 by 2 cents per share.
Revenue for the period also rose 9.7% to $35 billion, led by strong sales from its pharmaceutical department, which was ahead of analysts estimates of $34.74 billion.
However, on a non-adjusted basis, net income for the quarter fell to $948 million, or 81 cents per diluted share, from $1.25 billion, or $1.02 per diluted share, during the same period last year.
TheStreet Ratings team rates CVS HEALTH CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CVS HEALTH CORP (CVS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins."