CVS Health Co. (NYSE:CVS) to Post Q4 2024 Earnings of $1.94 Per Share, Leerink Partnrs Forecasts

CVS Health Co. (NYSE:CVS) – Leerink Partnrs lowered their Q4 2024 earnings per share estimates for CVS Health in a research report issued on Wednesday, May 1st. Leerink Partnrs analyst M. Cherny now forecasts that the pharmacy operator will post earnings per share of $1.94 for the quarter, down from their prior estimate of $2.15. Leerink Partnrs has a “Market Perform” rating on the stock. The consensus estimate for CVS Health’s current full-year earnings is $7.00 per share. Leerink Partnrs also issued estimates for CVS Health’s FY2027 earnings at $9.68 EPS.

Other equities research analysts have also issued research reports about the company. Truist Financial reissued a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a report on Thursday. Royal Bank of Canada decreased their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Cantor Fitzgerald lowered CVS Health from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $87.00 to $58.00 in a report on Wednesday. Bank of America reduced their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday. Finally, The Goldman Sachs Group reduced their target price on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.35.

CVS Health Trading Up 1.4 %

NYSE CVS opened at $55.90 on Friday. The stock has a market capitalization of $70.45 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.89 and a beta of 0.56. CVS Health has a one year low of $53.70 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.63. The business’s fifty day moving average is $73.19 and its 200-day moving average is $73.37.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.76%. CVS Health’s payout ratio is currently 46.75%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVS. Norges Bank purchased a new stake in CVS Health in the fourth quarter worth $1,092,040,000. Capital International Investors grew its stake in CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after purchasing an additional 10,837,801 shares during the period. FMR LLC grew its stake in CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares during the period. Pzena Investment Management LLC grew its stake in CVS Health by 573.8% in the first quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock worth $442,944,000 after purchasing an additional 4,729,207 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of CVS Health by 306.6% in the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after acquiring an additional 2,297,100 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.