CVS Health (NYSE:CVS) issued its quarterly earnings results on Tuesday. The pharmacy operator reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.02, MarketWatch Earnings reports. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The business had revenue of $47.27 billion for the quarter, compared to analyst estimates of $47.22 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. CVS Health updated its FY 2018 guidance to $6.98-7.08 EPS and its FY18 guidance to $6.98-7.08 EPS.
NYSE CVS traded up $2.45 during trading hours on Tuesday, reaching $76.15. The stock had a trading volume of 3,801,602 shares, compared to its average volume of 7,920,882. The firm has a market cap of $74.41 billion, a P/E ratio of 12.91, a P/E/G ratio of 0.97 and a beta of 0.98. CVS Health has a 52-week low of $60.14 and a 52-week high of $83.88. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 24th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.63%. CVS Health’s dividend payout ratio is currently 33.90%.
CVS has been the topic of a number of research analyst reports. Citigroup restated a “buy” rating and set a $81.00 price target on shares of CVS Health in a research note on Monday, July 9th. Royal Bank of Canada restated a “buy” rating and set a $90.00 price target on shares of CVS Health in a research note on Wednesday, August 8th. Leerink Swann set a $80.00 price target on CVS Health and gave the stock an “outperform” rating in a research note on Thursday, August 9th. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 28th. Finally, Bank of America boosted their price target on CVS Health from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $86.18.
In related news, EVP Lisa Bisaccia sold 21,534 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,722,720.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kevin Hourican sold 8,564 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $75.00, for a total value of $642,300.00. Following the completion of the sale, 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 quarter, insiders sold 43,409 shares of company stock worth $3,392,097. 0.53% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Camarda Financial Advisors LLC purchased a new stake in CVS Health in the 2nd quarter worth approximately $102,000. Kiley Juergens Wealth Management LLC acquired a new position in shares of CVS Health during the 2nd quarter worth approximately $103,000. Legacy Advisors LLC raised its stake in shares of CVS Health by 7,100.0% during the 2nd quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock worth $116,000 after buying an additional 1,775 shares during the period. Squar Milner Financial Services LLC acquired a new position in CVS Health in the 2nd quarter valued at $122,000. Finally, Canton Hathaway LLC acquired a new position in CVS Health in the 3rd quarter valued at $126,000. Hedge funds and other institutional investors own 82.42% of the company’s stock.
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About CVS Health
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.
See Also: Fundamental Analysis
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