CVS Health Corp (NYSE:CVS) – Analysts at SunTrust Banks increased their Q1 2018 EPS estimates for CVS Health in a research report issued to clients and investors on Thursday. SunTrust Banks analyst D. Macdonald now forecasts that the pharmacy operator will post earnings per share of $1.43 for the quarter, up from their prior estimate of $1.40. SunTrust Banks has a “Buy” rating and a $90.00 price objective on the stock. SunTrust Banks also issued estimates for CVS Health’s Q3 2018 earnings at $1.32 EPS, Q4 2018 earnings at $1.93 EPS, FY2018 earnings at $6.15 EPS, Q1 2019 earnings at $1.06 EPS, Q2 2019 earnings at $1.26 EPS, Q3 2019 earnings at $1.43 EPS and FY2019 earnings at $5.80 EPS.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The firm had revenue of $48.39 billion during the quarter, compared to analysts’ expectations of $47.54 billion. During the same period in the prior year, the company posted $1.71 EPS. The company’s revenue was up 5.3% on a year-over-year basis.
CVS has been the subject of several other reports. Loop Capital decreased their price objective on shares of CVS Health from $83.00 to $73.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Morgan Stanley upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective for the company in a research report on Friday, January 5th. Needham & Company LLC increased their price objective on shares of CVS Health from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Leerink Swann set a $85.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Mizuho set a $95.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. CVS Health currently has an average rating of “Buy” and a consensus target price of $87.82.
Shares of CVS Health (NYSE CVS) opened at $70.11 on Monday. CVS Health has a 12-month low of $66.45 and a 12-month high of $84.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.52 and a current ratio of 1.02. The firm has a market cap of $70,950.27, a price-to-earnings ratio of 10.84, a PEG ratio of 1.18 and a beta of 0.93.
The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Tuesday, January 23rd. CVS Health’s dividend payout ratio is presently 30.91%.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at $1,166,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Beach Investment Management LLC. bought a new position in shares of CVS Health in the second quarter valued at $2,224,000. Wetherby Asset Management Inc. lifted its stake in shares of CVS Health by 0.6% in the second quarter. Wetherby Asset Management Inc. now owns 24,899 shares of the pharmacy operator’s stock valued at $2,003,000 after buying an additional 158 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of CVS Health by 7.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,019,992 shares of the pharmacy operator’s stock valued at $323,449,000 after buying an additional 273,574 shares in the last quarter. Walter & Keenan Financial Consulting Co. MI ADV lifted its stake in shares of CVS Health by 2.0% in the second quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 12,700 shares of the pharmacy operator’s stock valued at $1,022,000 after buying an additional 250 shares in the last quarter. Finally, Boston Partners lifted its stake in shares of CVS Health by 69.1% in the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock valued at $519,711,000 after buying an additional 2,638,888 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.
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CVS Health Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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