CVS Health Corporation (NYSE:CVS) – Equities researchers at Jefferies Group issued their FY2016 earnings per share (EPS) estimates for CVS Health Corporation in a report issued on Monday. Jefferies Group analyst B. Tanquilut forecasts that the brokerage will post earnings of $5.80 per share for the year. Jefferies Group currently has a “Hold” rating and a $82.00 target price on the stock. Jefferies Group also issued estimates for CVS Health Corporation’s Q4 2016 earnings at $1.66 EPS, Q1 2017 earnings at $1.21 EPS, Q2 2017 earnings at $1.35 EPS, Q3 2017 earnings at $1.60 EPS, Q4 2017 earnings at $1.71 EPS, FY2017 earnings at $5.87 EPS and FY2018 earnings at $6.40 EPS.
A number of other equities research analysts have also commented on the stock. Leerink Swann restated a “buy” rating and set a $105.00 price objective on shares of CVS Health Corporation in a report on Wednesday, November 9th. Morgan Stanley restated a “hold” rating and set a $104.00 price objective on shares of CVS Health Corporation in a report on Monday, September 12th. Deutsche Bank AG restated a “hold” rating and set a $99.00 price objective (down from $108.00) on shares of CVS Health Corporation in a report on Tuesday, October 18th. Guggenheim restated a “buy” rating and set a $90.00 price objective (down from $115.00) on shares of CVS Health Corporation in a report on Tuesday, November 8th. Finally, Argus restated a “buy” rating and set a $85.00 price objective (down from $120.00) on shares of CVS Health Corporation in a report on Thursday, November 10th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $103.36.
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CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, November 8th. The pharmacy operator reported $1.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.07. CVS Health Corporation had a net margin of 2.96% and a return on equity of 17.18%. The company earned $44.60 billion during the quarter, compared to analysts’ expectations of $45.29 billion. During the same period in the prior year, the company earned $1.28 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: This news story was originally reported by American Market News and is owned by of American Market News. If you are viewing this news story on another site, it was illegally copied and republished in violation of international trademark and copyright law. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2016/12/14/jefferies-group-comments-on-cvs-health-corporations-fy2016-earnings-cvs.html.
Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in CVS Health Corporation by 48.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 14,400,092 shares of the pharmacy operator’s stock worth $1,281,464,000 after buying an additional 4,699,619 shares in the last quarter. Bank of Montreal Can acquired a new stake in CVS Health Corporation during the second quarter worth about $438,948,000. The Manufacturers Life Insurance Company acquired a new stake in CVS Health Corporation during the third quarter worth about $336,172,000. Parnassus Investments CA increased its stake in CVS Health Corporation by 43.4% in the third quarter. Parnassus Investments CA now owns 5,805,530 shares of the pharmacy operator’s stock worth $516,634,000 after buying an additional 1,758,049 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in CVS Health Corporation during the second quarter worth about $152,524,000. 79.98% of the stock is owned by hedge funds and other institutional investors.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.
