Wall Street brokerages expect CVS Health Corporation (NYSE:CVS) to post earnings of $1.31 per share for the current quarter, according to Zacks Investment Research. Nineteen analysts have issued estimates for CVS Health Corporation’s earnings, with the highest EPS estimate coming in at $1.33 and the lowest estimate coming in at $1.29. CVS Health Corporation reported earnings of $1.32 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.8%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, August 8th.
On average, analysts expect that CVS Health Corporation will report full year earnings of $5.87 per share for the current year, with EPS estimates ranging from $5.78 to $5.92. For the next year, analysts expect that the business will report earnings of $6.36 per share, with EPS estimates ranging from $6.25 to $6.50. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for CVS Health Corporation.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.56% and a net margin of 2.86%. The company had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same period in the previous year, the company posted $1.32 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis.
Several research analysts recently issued reports on CVS shares. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 price objective on shares of CVS Health Corporation in a research note on Friday, June 9th. Vetr raised CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 target price on the stock in a research report on Wednesday, May 24th. Evercore ISI reaffirmed an “outperform” rating and set a $88.00 target price (up previously from $87.00) on shares of CVS Health Corporation in a research report on Wednesday, May 3rd. Cowen and Company reaffirmed an “outperform” rating and set a $86.00 target price on shares of CVS Health Corporation in a research report on Tuesday, June 13th. Finally, Tigress Financial began coverage on CVS Health Corporation in a research report on Thursday, April 27th. They set a “buy” rating on the stock. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. CVS Health Corporation currently has a consensus rating of “Buy” and a consensus target price of $92.20.
In related news, CFO David M. Denton sold 230,510 shares of CVS Health Corporation stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the sale, the chief financial officer now directly owns 176,983 shares in the company, valued at approximately $14,158,640. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Helena Foulkes sold 20,332 shares of CVS Health Corporation stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $76.98, for a total value of $1,565,157.36. Following the completion of the sale, the executive vice president now owns 59,300 shares in the company, valued at $4,564,914. The disclosure for this sale can be found here. Over the last quarter, insiders sold 271,175 shares of company stock worth $21,632,597. 0.61% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in CVS Health Corporation by 1.8% in the first quarter. Bank of America Corp DE now owns 22,411,957 shares of the pharmacy operator’s stock valued at $1,759,338,000 after buying an additional 398,999 shares during the last quarter. Norges Bank purchased a new stake in CVS Health Corporation during the fourth quarter valued at about $800,355,000. Macquarie Group Ltd. boosted its stake in CVS Health Corporation by 2.4% in the first quarter. Macquarie Group Ltd. now owns 9,752,261 shares of the pharmacy operator’s stock valued at $765,534,000 after buying an additional 225,981 shares during the last quarter. Clearbridge Investments LLC boosted its stake in CVS Health Corporation by 6.8% in the first quarter. Clearbridge Investments LLC now owns 9,258,404 shares of the pharmacy operator’s stock valued at $726,785,000 after buying an additional 589,646 shares during the last quarter. Finally, Pioneer Investment Management Inc. boosted its stake in CVS Health Corporation by 4.6% in the first quarter. Pioneer Investment Management Inc. now owns 8,033,087 shares of the pharmacy operator’s stock valued at $630,598,000 after buying an additional 353,621 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.
CVS Health Corporation (NYSE:CVS) traded down 2.582% during midday trading on Friday, hitting $77.077. The company had a trading volume of 2,439,135 shares. The stock has a 50 day moving average price of $78.75 and a 200 day moving average price of $79.10. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $98.44. The company has a market capitalization of $78.53 billion, a P/E ratio of 16.074 and a beta of 0.91. CVS Health Corporation also saw unusually large options trading on Monday. Investors purchased 12,222 put options on the stock. This is an increase of approximately 254% compared to the average volume of 3,454 put options.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.53%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s payout ratio is 41.67%.
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About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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