Equities analysts expect that CVS Health Corp (NYSE:CVS) will report earnings of $1.71 per share for the current quarter, Zacks reports. Nineteen analysts have made estimates for CVS Health’s earnings, with estimates ranging from $1.69 to $1.78. CVS Health reported earnings of $1.50 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 14%. The firm is expected to report its next quarterly earnings report before the market opens on Tuesday, November 6th.
On average, analysts expect that CVS Health will report full year earnings of $7.05 per share for the current fiscal year, with EPS estimates ranging from $7.01 to $7.10. For the next fiscal year, analysts forecast that the business will post earnings of $7.40 per share, with EPS estimates ranging from $6.95 to $7.92. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover CVS Health.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.08. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The company had revenue of $46.71 billion for the quarter, compared to analysts’ expectations of $46.34 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. CVS Health’s revenue for the quarter was up 2.2% on a year-over-year basis.
Several analysts recently weighed in on CVS shares. Royal Bank of Canada reissued a “buy” rating and issued a $90.00 price objective on shares of CVS Health in a research note on Wednesday, August 8th. Citigroup restated a “buy” rating and issued a $81.00 target price on shares of CVS Health in a report on Monday, July 9th. Mizuho restated a “buy” rating on shares of CVS Health in a report on Saturday, June 30th. Bank of America boosted their target price on shares of CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 17th. Finally, ValuEngine upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $86.31.
In other news, EVP Lisa Bisaccia sold 21,534 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,722,720.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kevin Hourican sold 8,564 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the transaction, the executive vice president now owns 12,135 shares in the company, valued at approximately $910,125. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,409 shares of company stock worth $3,392,097. 0.53% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of CVS Health by 5.9% during the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock valued at $4,770,597,000 after purchasing an additional 4,121,620 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of CVS Health by 16.7% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,102,755 shares of the pharmacy operator’s stock valued at $1,126,173,000 after purchasing an additional 2,588,382 shares during the period. Parnassus Investments CA raised its holdings in shares of CVS Health by 2.2% during the second quarter. Parnassus Investments CA now owns 16,659,501 shares of the pharmacy operator’s stock valued at $1,072,039,000 after purchasing an additional 350,872 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of CVS Health by 15.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,573,338 shares of the pharmacy operator’s stock worth $809,095,000 after acquiring an additional 1,721,683 shares during the last quarter. Finally, Veritas Asset Management LLP raised its holdings in shares of CVS Health by 4.5% in the 2nd quarter. Veritas Asset Management LLP now owns 11,890,424 shares of the pharmacy operator’s stock worth $765,149,000 after acquiring an additional 508,500 shares during the last quarter. Hedge funds and other institutional investors own 82.75% of the company’s stock.
Shares of CVS Health stock traded up $0.17 during trading on Thursday, hitting $74.53. The company’s stock had a trading volume of 7,315,600 shares, compared to its average volume of 8,227,859. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73. CVS Health has a 52 week low of $60.14 and a 52 week high of $83.88. The stock has a market cap of $80.14 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 1.05 and a beta of 1.02.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.68%. CVS Health’s payout ratio is 33.90%.
CVS Health Company Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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