CVS Health (NYSE:CVS) posted its earnings results on Tuesday. The pharmacy operator reported $2.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.32, MarketWatch Earnings reports. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. The business had revenue of $69.10 billion for the quarter, compared to analysts’ expectations of $68.33 billion. During the same period in the prior year, the company posted $1.91 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. CVS Health updated its FY 2021 guidance to 7.560-7.680 EPS and its FY21 guidance to $7.56-7.68 EPS.
NYSE:CVS opened at $81.12 on Wednesday. The company has a 50-day moving average price of $75.06 and a 200-day moving average price of $70.81. CVS Health has a 12 month low of $55.36 and a 12 month high of $81.35. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. The stock has a market cap of $106.38 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.72 and a beta of 0.82.
The business also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Stockholders of record on Friday, April 23rd were given a $0.50 dividend. The ex-dividend date was Thursday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.47%. CVS Health’s dividend payout ratio is 28.25%.
A number of brokerages have recently commented on CVS. Guggenheim reissued a “neutral” rating on shares of CVS Health in a report on Tuesday, March 23rd. Jefferies Financial Group raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Friday, January 8th. Royal Bank of Canada increased their target price on shares of CVS Health from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Securities increased their target price on shares of CVS Health from $80.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 20th. Finally, Morgan Stanley increased their target price on shares of CVS Health from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Tuesday, April 20th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $84.67.
In related news, EVP Thomas M. Moriarty sold 103,423 shares of CVS Health stock in a transaction dated Wednesday, April 21st. The shares were sold at an average price of $77.00, for a total transaction of $7,963,571.00. Following the completion of the transaction, the executive vice president now directly owns 103,423 shares of the company’s stock, valued at approximately $7,963,571. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Edward J. Ludwig purchased 3,000 shares of the stock in a transaction that occurred on Wednesday, February 17th. The shares were acquired at an average cost of $72.00 per share, with a total value of $216,000.00. Over the last ninety days, insiders sold 583,892 shares of company stock valued at $43,918,083. Corporate insiders own 0.46% of the company’s stock.
About CVS Health
CVS Health Corporation provides health services 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.
Read More: Hold Rating
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