Leerink Partnrs Predicts Reduced Earnings for CVS Health

CVS Health Co. (NYSE:CVS - Free Report) - Investment analysts at Leerink Partnrs reduced their FY2024 earnings estimates for CVS Health in a research report issued to clients and investors on Monday, November 18th. Leerink Partnrs analyst M. Cherny now forecasts that the pharmacy operator will earn $5.47 per share for the year, down from their previous forecast of $5.62. The consensus estimate for CVS Health's current full-year earnings is $5.48 per share. Leerink Partnrs also issued estimates for CVS Health's Q4 2024 earnings at $1.24 EPS, Q1 2025 earnings at $1.33 EPS, Q4 2025 earnings at $1.43 EPS, FY2025 earnings at $6.28 EPS, FY2026 earnings at $7.62 EPS and FY2027 earnings at $8.40 EPS.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the firm earned $2.21 earnings per share. The business's quarterly revenue was up 6.3% compared to the same quarter last year.

CVS has been the topic of a number of other reports. Barclays cut their price objective on shares of CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Evercore ISI increased their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, October 8th. TD Cowen upgraded CVS Health from a "hold" rating to a "buy" rating and boosted their target price for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. UBS Group raised their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised CVS Health from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $60.00 to $66.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $72.78.

CVS Health Stock Down 0.4 %

Shares of CVS stock traded down $0.23 during trading hours on Tuesday, reaching $55.82. The company had a trading volume of 11,493,730 shares, compared to its average volume of 11,375,453. The company has a market cap of $70.24 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health has a 12 month low of $52.71 and a 12 month high of $83.25. The business has a fifty day simple moving average of $59.18 and a 200-day simple moving average of $58.60.

Hedge Funds Weigh In On CVS Health

Several institutional investors and hedge funds have recently made changes to their positions in CVS. Soltis Investment Advisors LLC lifted its position in CVS Health by 1.3% in the third quarter. Soltis Investment Advisors LLC now owns 100,789 shares of the pharmacy operator's stock valued at $6,338,000 after purchasing an additional 1,342 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of CVS Health by 28.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator's stock worth $2,951,000 after acquiring an additional 10,465 shares in the last quarter. Toronto Dominion Bank raised its holdings in CVS Health by 124.6% in the third quarter. Toronto Dominion Bank now owns 1,508,071 shares of the pharmacy operator's stock worth $94,828,000 after purchasing an additional 836,569 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in CVS Health by 27.8% during the third quarter. Coldstream Capital Management Inc. now owns 17,400 shares of the pharmacy operator's stock worth $1,084,000 after acquiring an additional 3,788 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of CVS Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock valued at $1,651,997,000 after purchasing an additional 461,569 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.77%. CVS Health's payout ratio is 67.51%.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.