CVS Health Corp (NYSE:CVS) – Analysts at SunTrust Banks decreased their Q1 2020 earnings estimates for shares of CVS Health in a report issued on Wednesday, February 12th. SunTrust Banks analyst D. Macdonald now expects that the pharmacy operator will earn $1.61 per share for the quarter, down from their previous estimate of $1.65. SunTrust Banks currently has a “Buy” rating and a $85.00 target price on the stock. SunTrust Banks also issued estimates for CVS Health’s Q2 2020 earnings at $1.86 EPS, Q3 2020 earnings at $1.84 EPS and Q4 2020 earnings at $1.79 EPS.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The firm had revenue of $66.89 billion for the quarter, compared to analysts’ expectations of $64.01 billion. During the same period in the previous year, the firm posted $2.14 EPS. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year.
A number of other brokerages have also weighed in on CVS. Cowen set a $76.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a report on Monday, October 21st. Cantor Fitzgerald boosted their price objective on shares of CVS Health from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. boosted 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. ValuEngine upgraded shares of CVS Health from a “strong sell” rating to a “sell” rating in a report on Friday, January 24th. Finally, Mizuho boosted their price objective on shares of CVS Health from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $78.48.
Shares of NYSE CVS opened at $71.37 on Friday. CVS Health has a twelve month low of $51.72 and a twelve month high of $77.03. The firm has a market cap of $95.30 billion, a P/E ratio of 21.12, a PEG ratio of 1.56 and a beta of 0.93. The company has a 50 day moving average of $72.66 and a 200 day moving average of $67.66. The company has a quick ratio of 0.61, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.
The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.80%. CVS Health’s dividend payout ratio is presently 28.25%.
In other CVS Health news, EVP Karen S. Lynch sold 80,143 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $75.00, for a total transaction of $6,010,725.00. Following the completion of the sale, the executive vice president now directly owns 41,831 shares in the company, valued at approximately $3,137,325. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jonathan C. Roberts sold 57,563 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $72.63, for a total transaction of $4,180,800.69. Following the sale, the chief operating officer now owns 102,608 shares of the company’s stock, valued at $7,452,419.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 404,182 shares of company stock valued at $30,121,266. Company insiders own 0.53% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Ausdal Financial Partners Inc. boosted its holdings in CVS Health by 3.0% in the 3rd quarter. Ausdal Financial Partners Inc. now owns 4,566 shares of the pharmacy operator’s stock worth $288,000 after buying an additional 134 shares during the period. Williams Jones Wealth Management LLC. boosted its holdings in shares of CVS Health by 0.9% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 15,527 shares of the pharmacy operator’s stock valued at $1,154,000 after purchasing an additional 143 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its holdings in shares of CVS Health by 0.9% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 16,214 shares of the pharmacy operator’s stock valued at $1,205,000 after purchasing an additional 152 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of CVS Health by 13.6% during the 4th quarter. Larson Financial Group LLC now owns 1,279 shares of the pharmacy operator’s stock valued at $95,000 after purchasing an additional 153 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in shares of CVS Health by 24.3% during the 4th quarter. Sound Income Strategies LLC now owns 860 shares of the pharmacy operator’s stock valued at $64,000 after purchasing an additional 168 shares during the last quarter. 76.69% of the stock is owned by hedge funds and other institutional investors.
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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