Why 2017 Was a Year to Forget for CVS Health Corporation

Why 2017 Was a Year to Forget for CVS Health Corporation

For CVS Health Corporation (NYSE: CVS), there was one good thing about 2017: It wasn't as bad as the previous year. But that's faint praise at best. In 2016, the pharmacy giant reeled from two contract wins by rival Walgreens Boots Alliance (NASDAQ: WBA), causing CVS stock to drop 19%. After the dismal performance, CVS Health CEO Larry Merlo called 2017 "a rebuilding year." 

But investors didn't see any rebuilding of the stock's value. CVS Health's valuation is down more than 10% so far this year. Why was 2017 such a year to forget for CVS Health? 

Image source: Getty Images.

Continue reading

Source: Fool.com