Wall Street brokerages expect that CVS Health Corp (NYSE:CVS) will announce earnings of $1.68 per share for the current quarter, according to Zacks Investment Research. Twenty Two analysts have issued estimates for CVS Health’s earnings. The highest EPS estimate is $1.77 and the lowest is $1.58. CVS Health reported earnings of $1.69 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 0.6%. The company is scheduled to report its next earnings results on Wednesday, August 14th.
On average, analysts expect that CVS Health will report full-year earnings of $6.80 per share for the current financial year, with EPS estimates ranging from $6.50 to $6.90. For the next year, analysts expect that the business will post earnings of $7.20 per share, with EPS estimates ranging from $6.75 to $8.10. Zacks’ EPS calculations are an average based on a survey of analysts that follow CVS Health.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.12. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. The business had revenue of $61.65 billion during the quarter, compared to analysts’ expectations of $60.39 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The firm’s revenue was up 34.8% on a year-over-year basis.
CVS has been the subject of a number of recent analyst reports. Morgan Stanley set a $92.00 price target on CVS Health and gave the company a “buy” rating in a research report on Friday, February 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price target on shares of CVS Health in a report on Thursday, February 21st. BMO Capital Markets set a $63.00 price target on CVS Health and gave the company a “hold” rating in a report on Friday, May 3rd. Barclays set a $73.00 price target on CVS Health and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $77.62.
CVS Health stock traded up $0.02 during midday trading on Wednesday, hitting $52.99. 512,684 shares of the company’s stock were exchanged, compared to its average volume of 11,787,700. CVS Health has a 52-week low of $51.77 and a 52-week high of $82.15. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. The stock has a market cap of $69.92 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 1.05 and a beta of 0.93.
The business also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, April 22nd. This represents a $2.00 annualized dividend and a yield of 3.77%. CVS Health’s dividend payout ratio is currently 28.25%.
In other news, Director Edward J. Ludwig acquired 4,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $58.27 per share, with a total value of $233,080.00. Following the completion of the purchase, the director now directly owns 5,378 shares in the company, valued at $313,376.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James David Clark sold 1,664 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.14, for a total transaction of $96,744.96. Following the completion of the sale, the senior vice president now directly owns 8,557 shares of the company’s stock, valued at approximately $497,503.98. The disclosure for this sale can be found here. In the last three months, insiders acquired 23,600 shares of company stock valued at $1,270,896. 0.53% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of CVS. Brookmont Capital Management increased its holdings in CVS Health by 3.0% during the fourth quarter. Brookmont Capital Management now owns 5,184 shares of the pharmacy operator’s stock valued at $340,000 after buying an additional 152 shares during the period. Avestar Capital LLC increased its holdings in CVS Health by 19.6% during the fourth quarter. Avestar Capital LLC now owns 951 shares of the pharmacy operator’s stock valued at $57,000 after buying an additional 156 shares during the period. Clarus Wealth Advisors increased its holdings in CVS Health by 6.9% during the fourth quarter. Clarus Wealth Advisors now owns 2,456 shares of the pharmacy operator’s stock valued at $161,000 after buying an additional 158 shares during the period. Adviser Investments LLC increased its holdings in CVS Health by 5.4% during the fourth quarter. Adviser Investments LLC now owns 3,163 shares of the pharmacy operator’s stock valued at $207,000 after buying an additional 162 shares during the period. Finally, Lee Danner & Bass Inc. increased its holdings in CVS Health by 0.4% during the fourth quarter. Lee Danner & Bass Inc. now owns 45,077 shares of the pharmacy operator’s stock valued at $2,953,000 after buying an additional 178 shares during the period. 80.39% of the stock is owned by hedge funds and other institutional investors.
About CVS Health
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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