Brokerages predict that CVS Health Corp (NYSE:CVS) will report sales of $45.82 billion for the current fiscal quarter, according to Zacks. Seventeen analysts have provided estimates for CVS Health’s earnings. The lowest sales estimate is $45.03 billion and the highest is $46.63 billion. CVS Health posted sales of $44.51 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The company is expected to issue its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that CVS Health will report full year sales of $45.82 billion for the current fiscal year, with estimates ranging from $187.55 billion to $192.42 billion. For the next financial year, analysts anticipate that the business will post sales of $198.56 billion per share, with estimates ranging from $191.86 billion to $204.07 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow CVS Health.
CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The company had revenue of $48.39 billion for the quarter, compared to analyst estimates of $47.54 billion. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.71 earnings per share.
CVS has been the subject of a number of research analyst reports. Needham & Company LLC upgraded shares of CVS Health from a “buy” rating to a “strong-buy” rating and lifted their price target for the stock from $88.00 to $100.00 in a research note on Tuesday, January 30th. Mizuho set a $95.00 price target on shares of CVS Health and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Cowen restated an “outperform” rating and issued a $99.00 price target (up previously from $81.00) on shares of CVS Health in a research note on Thursday, January 18th. Vetr lowered shares of CVS Health from a “hold” rating to a “sell” rating and set a $76.66 price target for the company. in a research note on Tuesday, January 16th. Finally, ValuEngine lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $87.82.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the business’s 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 completion of the transaction, the executive vice president now owns 15,556 shares of the company’s stock, valued at $1,166,700. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Helena Foulkes sold 19,965 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the transaction, the executive vice president now directly owns 65,072 shares of the company’s stock, valued at approximately $4,622,714.88. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Pathstone Family Office LLC boosted its holdings in shares of CVS Health by 341.0% during the second quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock valued at $2,353,000 after acquiring an additional 982 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in shares of CVS Health by 330.3% during the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 991 shares during the period. Fieldpoint Private Securities LLC boosted its holdings in shares of CVS Health by 333.3% during the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares during the period. Arcadia Investment Management Corp MI boosted its holdings in shares of CVS Health by 119.6% during the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after acquiring an additional 726 shares during the period. Finally, MPS Loria Financial Planners LLC acquired a new position in shares of CVS Health during the second quarter valued at $119,000. 83.23% of the stock is owned by institutional investors.
Shares of CVS Health (NYSE CVS) opened at $68.76 on Thursday. The stock has a market cap of $71,686.84, a P/E ratio of 10.63, a PEG ratio of 1.20 and a beta of 0.93. 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 also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, January 23rd. This represents a $2.00 annualized dividend and a yield of 2.91%. CVS Health’s payout ratio is 30.91%.
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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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