Pharmacy related equities had a mixed day on Monday. Walgreens WAG lost almost 4 percent, Rite-Aid RAD lost roughly 4.5 percent, Bioscripts BIOS lost a little over 3.5 percent, and CVS Health CVS saved face by only retreating 0.95 percent.
CVS has been working to remove tobacco products from its stores before October 2014. Investors and analysts feared the drug-store would experience a drop in revenue and same-store sales because of the move. A little over one month in and it would appear that CVS has weathered a year loaded with Obamacare uncertainty. Year-to-date CVS is outperforming, recording a gain in 2014 thus far roughly 14.5 percent.
- Walgreens - Up 6.7 percent
- BioScript - Up 1.65 percent
- Rite-Aid - Up 1.39 percent
CVS has taken some basic measure to revamp its image. At the same time the company decided to remove tobacco products from it's store it also changed names from CVS Caremark Corp to CVS Health. Investors have rewarded the stock this year making the highest gainer YTD in it's group.
Shares of CVS closed Monday's session down 0.95 percent to a closing price of $80.60.
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