Wall Street brokerages expect CVS Health Co. (NYSE:CVS) to report $68.54 billion in sales for the current quarter, according to Zacks. Nine analysts have made estimates for CVS Health’s earnings, with estimates ranging from $67.20 billion to $69.37 billion. CVS Health posted sales of $66.89 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 10th.
On average, analysts expect that CVS Health will report full year sales of $267.85 billion for the current fiscal year, with estimates ranging from $266.35 billion to $270.02 billion. For the next financial year, analysts forecast that the company will post sales of $279.72 billion, with estimates ranging from $273.79 billion to $287.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover CVS Health.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 11th. The pharmacy operator reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.33. The company had revenue of $67.05 billion for the quarter, compared to analyst estimates of $66.54 billion. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 EPS.
A number of research analysts have recently commented on CVS shares. Piper Sandler upped their price objective on shares of CVS Health from $72.00 to $76.00 and gave the company an “overweight” rating in a research note on Wednesday, November 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of CVS Health in a research note on Monday, November 9th. SVB Leerink upped their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “market perform” rating in a research note on Monday, December 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $104.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, November 9th. Finally, BidaskClub downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $82.38.
NYSE CVS opened at $68.30 on Friday. CVS Health has a 12 month low of $52.04 and a 12 month high of $76.44. The company has a 50-day moving average of $69.45 and a 200-day moving average of $63.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.95 and a quick ratio of 0.67. The company has a market cap of $89.40 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.55 and a beta of 0.81.
In other CVS Health news, EVP Alan Lotvin sold 7,138 shares of the stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $70.00, for a total value of $499,660.00. Following the completion of the sale, the executive vice president now owns 8,023 shares of the company’s stock, valued at $561,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Formidable Asset Management LLC boosted its position in CVS Health by 9.3% during the third quarter. Formidable Asset Management LLC now owns 17,767 shares of the pharmacy operator’s stock valued at $1,029,000 after purchasing an additional 1,506 shares during the last quarter. Van ECK Associates Corp raised its position in shares of CVS Health by 16.6% during the 3rd quarter. Van ECK Associates Corp now owns 161,529 shares of the pharmacy operator’s stock valued at $9,433,000 after buying an additional 23,005 shares in the last quarter. Fiduciary Trust Co. raised its position in shares of CVS Health by 5.7% during the 3rd quarter. Fiduciary Trust Co. now owns 240,550 shares of the pharmacy operator’s stock valued at $14,048,000 after buying an additional 13,025 shares in the last quarter. Sigma Planning Corp raised its position in shares of CVS Health by 6.8% during the 3rd quarter. Sigma Planning Corp now owns 65,037 shares of the pharmacy operator’s stock valued at $3,798,000 after buying an additional 4,114 shares in the last quarter. Finally, Culbertson A N & Co. Inc. raised its position in shares of CVS Health by 1.5% during the 3rd quarter. Culbertson A N & Co. Inc. now owns 98,750 shares of the pharmacy operator’s stock valued at $5,767,000 after buying an additional 1,500 shares in the last quarter. 68.47% of the stock is owned by institutional investors.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
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