Leerink Partnrs Has Weak Forecast for CVS Health Q3 Earnings

CVS Health Co. (NYSE:CVS - Free Report) - Analysts at Leerink Partnrs lowered their Q3 2024 EPS estimates for shares of CVS Health in a research note issued on Friday, October 18th. Leerink Partnrs analyst M. Cherny now expects that the pharmacy operator will post earnings per share of $1.70 for the quarter, down from their previous estimate of $1.71. The consensus estimate for CVS Health's current full-year earnings is $6.51 per share. Leerink Partnrs also issued estimates for CVS Health's Q1 2025 earnings at $1.59 EPS, Q2 2025 earnings at $1.88 EPS, Q3 2025 earnings at $1.88 EPS and Q4 2025 earnings at $1.82 EPS.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. CVS Health's revenue for the quarter was up 2.6% on a year-over-year basis.

CVS has been the subject of several other research reports. TD Cowen raised shares of CVS Health from a "hold" rating to a "buy" rating and raised their price objective for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Royal Bank of Canada reiterated an "outperform" rating and set a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Wells Fargo & Company raised their target price on CVS Health from $60.00 to $61.00 and gave the company an "equal weight" rating in a research note on Monday, August 12th. Finally, Truist Financial upped their price target on CVS Health from $66.00 to $76.00 and gave the stock a "buy" rating in a research note on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $75.26.

CVS Health Trading Down 3.6 %

CVS stock traded down $2.16 during mid-day trading on Monday, reaching $58.18. The company's stock had a trading volume of 13,570,373 shares, compared to its average volume of 11,239,877. CVS Health has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The business's 50 day moving average price is $59.85 and its 200 day moving average price is $60.32. The company has a market cap of $73.04 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54.

Institutional Investors Weigh In On CVS Health

A number of hedge funds have recently made changes to their positions in CVS. Steph & Co. raised its position in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator's stock worth $35,000 after acquiring an additional 288 shares during the period. Livelsberger Financial Advisory purchased a new position in CVS Health in the third quarter valued at approximately $31,000. Crewe Advisors LLC bought a new position in CVS Health during the first quarter valued at $40,000. Retirement Group LLC increased its position in CVS Health by 54.3% in the first quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator's stock worth $41,000 after buying an additional 182 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health during the 3rd quarter valued at $33,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.57%. CVS Health's dividend payout ratio (DPR) is presently 46.75%.

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.