FY2024 EPS Estimates for CVS Health Cut by Leerink Partnrs

CVS Health Co. (NYSE:CVS - Free Report) - Research analysts at Leerink Partnrs lowered their FY2024 earnings estimates for CVS Health in a research report issued to clients and investors on Monday, January 27th. Leerink Partnrs analyst M. Cherny now anticipates that the pharmacy operator will post earnings per share of $5.16 for the year, down from their prior forecast of $5.21. The consensus estimate for CVS Health's current full-year earnings is $5.22 per share. Leerink Partnrs also issued estimates for CVS Health's Q4 2024 earnings at $0.94 EPS, Q1 2025 earnings at $1.20 EPS, Q2 2025 earnings at $1.58 EPS, Q3 2025 earnings at $1.67 EPS, Q4 2025 earnings at $1.32 EPS, FY2025 earnings at $5.77 EPS and FY2026 earnings at $7.10 EPS.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company upgraded shares of CVS Health from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $60.00 to $66.00 in a research report on Monday, November 18th. TD Cowen increased their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Mizuho decreased their price objective on CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Royal Bank of Canada decreased their target price on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, November 15th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $68.12.

CVS Health Trading Up 2.2 %

CVS stock traded up $1.25 during trading on Tuesday, hitting $57.45. The company had a trading volume of 14,018,429 shares, compared to its average volume of 13,772,261. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health has a one year low of $43.56 and a one year high of $80.75. The business has a 50-day moving average of $51.24 and a 200-day moving average of $56.19. The stock has a market cap of $72.29 billion, a PE ratio of 14.58, a PEG ratio of 0.80 and a beta of 0.59.

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 (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm's revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 earnings per share.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health's dividend payout ratio is 67.51%.

Institutional Trading of CVS Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVS. Hotchkis & Wiley Capital Management LLC increased its stake in CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock worth $748,085,000 after acquiring an additional 3,071,613 shares during the last quarter. ARGA Investment Management LP boosted its stake in CVS Health by 7,567.7% during the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator's stock worth $107,866,000 after buying an additional 2,371,563 shares during the period. State Street Corp grew its holdings in CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP purchased a new stake in CVS Health in the 3rd quarter worth about $121,987,000. Finally, Pathway Financial Advisers LLC lifted its stake in CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator's stock worth $108,804,000 after purchasing an additional 1,701,331 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Company Profile

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.