CVS Health (CVS) Updates FY18 Earnings Guidance

CVS Health (NYSE:CVS) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share guidance of $6.98-7.08 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.04. CVS Health also updated its FY 2018 guidance to $6.98-7.08 EPS.

CVS has been the subject of a number of recent research reports. Wolfe Research initiated coverage on CVS Health in a research report on Thursday, October 25th. They set a peer perform rating for the company. Leerink Swann set a $80.00 price objective on CVS Health and gave the company an outperform rating in a research report on Thursday, August 9th. Royal Bank of Canada set a $99.00 price objective on CVS Health and gave the company a buy rating in a research report on Tuesday, October 23rd. Citigroup reiterated a buy rating and set a $81.00 price objective on shares of CVS Health in a research report on Monday, July 9th. Finally, ValuEngine downgraded CVS Health from a sell rating to a strong sell rating in a research report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. CVS Health presently has a consensus rating of Buy and an average price target of $86.18.

NYSE:CVS traded up $3.65 during trading hours on Tuesday, hitting $77.34. 897,064 shares of the stock traded hands, compared to its average volume of 7,920,882. 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 fifty-two week low of $60.14 and a fifty-two week high of $83.88. The company has a market cap of $74.41 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.97 and a beta of 0.98.

CVS Health (NYSE:CVS) last announced its earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The company had revenue of $47.27 billion for the quarter, compared to the consensus estimate of $47.22 billion. During the same period in the previous year, the business earned $1.50 EPS. The company’s revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that CVS Health will post 7.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.59%. The ex-dividend date was Tuesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 33.90%.

In other CVS Health news, EVP Kevin Hourican sold 8,564 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the sale, the executive vice president now directly owns 12,135 shares of the company’s stock, valued at approximately $910,125. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Eva C. Boratto sold 13,311 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the sale, the executive vice president now directly owns 55,162 shares in the company, valued at $4,256,299.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,409 shares of company stock worth $3,392,097. Company insiders own 0.53% of the company’s stock.

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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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Earnings History and Estimates for CVS Health (NYSE:CVS)

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