Oppenheimer Comments on CVS Health Corp’s FY2018 Earnings (CVS)

CVS Health Corp (NYSE:CVS) – Research analysts at Oppenheimer lowered their FY2018 earnings per share (EPS) estimates for CVS Health in a research report issued to clients and investors on Tuesday, November 6th. Oppenheimer analyst M. Naidu now anticipates that the pharmacy operator will earn $7.05 per share for the year, down from their prior forecast of $7.06. Oppenheimer also issued estimates for CVS Health’s Q4 2018 earnings at $2.15 EPS.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.02. The firm had revenue of $47.27 billion during the quarter, compared to analysts’ expectations of $47.22 billion. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.50 earnings per share.

A number of other research analysts have also recently issued reports on the stock. Loop Capital set a $80.00 price objective on shares of CVS Health and gave the company a “hold” rating in a report on Friday. Leerink Swann upped their price target on shares of CVS Health from $85.00 to $95.00 and gave the company a “positive” rating in a report on Thursday. Morgan Stanley set a $100.00 price target on shares of CVS Health and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada set a $100.00 price target on shares of CVS Health and gave the company a “buy” rating in a report on Wednesday. Finally, ValuEngine upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $89.38.

Shares of NYSE CVS opened at $79.83 on Friday. The company has a market cap of $79.31 billion, a P/E ratio of 13.53, a PEG ratio of 1.04 and a beta of 0.98. The company has a quick ratio of 1.87, a current ratio of 2.44 and a debt-to-equity ratio of 1.66. CVS Health has a 52-week low of $60.14 and a 52-week high of $83.88.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Tuesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.

In related news, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin Hourican sold 8,564 shares of the stock in a transaction on Monday, August 27th. The stock was 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 of the company’s stock, valued at approximately $910,125. The disclosure for this sale can be found here. Insiders sold 43,409 shares of company stock valued at $3,392,097 in the last quarter. Corporate insiders own 0.53% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hayek Kallen Investment Management boosted its holdings in CVS Health by 5.0% during the third quarter. Hayek Kallen Investment Management now owns 13,567 shares of the pharmacy operator’s stock worth $844,000 after purchasing an additional 641 shares during the last quarter. Trust Co. of Toledo NA OH boosted its holdings in CVS Health by 3.5% during the third quarter. Trust Co. of Toledo NA OH now owns 19,653 shares of the pharmacy operator’s stock worth $1,548,000 after purchasing an additional 661 shares during the last quarter. Intersect Capital LLC boosted its holdings in CVS Health by 6.1% during the third quarter. Intersect Capital LLC now owns 11,622 shares of the pharmacy operator’s stock worth $915,000 after purchasing an additional 665 shares during the last quarter. Kiley Juergens Wealth Management LLC boosted its holdings in CVS Health by 41.5% during the third quarter. Kiley Juergens Wealth Management LLC now owns 2,270 shares of the pharmacy operator’s stock worth $178,000 after purchasing an additional 666 shares during the last quarter. Finally, Westchester Capital Management Inc. boosted its holdings in CVS Health by 0.7% during the third quarter. Westchester Capital Management Inc. now owns 104,444 shares of the pharmacy operator’s stock worth $8,222,000 after purchasing an additional 695 shares during the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.

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.

Read More: Compound Annual Growth Rate (CAGR)

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

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