Equities research analysts forecast that CVS Health Corp (NYSE:CVS) will report $1.68 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Twenty Five analysts have provided estimates for CVS Health’s earnings. The highest EPS estimate is $1.75 and the lowest is $1.65. CVS Health posted earnings per share of $2.14 during the same quarter last year, which would suggest a negative year-over-year growth rate of 21.5%. The business is expected to announce its next earnings report before the market opens on Wednesday, February 12th.
According to Zacks, analysts expect that CVS Health will report full-year earnings of $7.03 per share for the current year, with EPS estimates ranging from $7.00 to $7.10. For the next year, analysts expect that the company will post earnings of $7.15 per share, with EPS estimates ranging from $7.05 to $7.31. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for CVS Health.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. CVS Health had a net margin of 1.83% and a return on equity of 15.45%. The firm had revenue of $64.81 billion for the quarter, compared to the consensus estimate of $62.99 billion. During the same period in the prior year, the company posted $1.73 earnings per share. The business’s revenue for the quarter was up 36.5% on a year-over-year basis.
A number of equities analysts have issued reports on CVS shares. JPMorgan Chase & Co. lifted their price objective on shares of CVS Health from $88.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Citigroup increased their price objective on CVS Health from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. They noted that the move was a valuation call. Royal Bank of Canada began coverage on CVS Health in a report on Friday, September 27th. They issued an “outperform” rating and a $85.00 price objective for the company. SunTrust Banks raised their target price on CVS Health to $85.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of CVS Health in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.43.
In related news, CEO Larry J. Merlo sold 266,476 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $74.79, for a total transaction of $19,929,740.04. Following the completion of the transaction, the chief executive officer now owns 703,497 shares in the company, valued at approximately $52,614,540.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jonathan C. Roberts sold 57,563 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $72.63, for a total value of $4,180,800.69. Following the completion of the transaction, the chief operating officer now directly owns 102,608 shares of the company’s stock, valued at $7,452,419.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 427,786 shares of company stock worth $31,726,338. Corporate insiders own 0.53% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baystate Wealth Management LLC increased its position in CVS Health by 74.2% during the 4th quarter. Baystate Wealth Management LLC now owns 2,106 shares of the pharmacy operator’s stock valued at $156,000 after buying an additional 897 shares in the last quarter. Birch Hill Investment Advisors LLC increased its position in CVS Health by 2.7% during the 4th quarter. Birch Hill Investment Advisors LLC now owns 594,520 shares of the pharmacy operator’s stock valued at $44,166,000 after buying an additional 15,605 shares in the last quarter. Mcrae Capital Management Inc. acquired a new position in CVS Health during the 4th quarter valued at about $208,000. Steward Partners Investment Advisory LLC increased its position in CVS Health by 3.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 142,612 shares of the pharmacy operator’s stock valued at $10,594,000 after buying an additional 4,902 shares in the last quarter. Finally, Manchester Financial Inc. acquired a new position in CVS Health during the 4th quarter valued at about $35,000. 76.67% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE CVS opened at $76.02 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.61. CVS Health has a 1 year low of $51.72 and a 1 year high of $77.03. The company has a 50 day simple moving average of $74.22 and a 200 day simple moving average of $65.86. The firm has a market cap of $98.90 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.89.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, January 22nd. CVS Health’s payout ratio is 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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