Brokerages Expect CVS Health Corporation (CVS) Will Post Quarterly Sales of $45.36 Billion
Equities analysts predict that CVS Health Corporation (NYSE:CVS) will report sales of $45.36 billion for the current fiscal quarter, according to Zacks Investment Research. Eighteen analysts have made estimates for CVS Health Corporation’s earnings, with the lowest sales estimate coming in at $44.98 billion and the highest estimate coming in at $45.77 billion. CVS Health Corporation reported sales of $43.73 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.7%. The firm is expected to announce its next quarterly earnings results before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that CVS Health Corporation will report full year sales of $45.36 billion for the current fiscal year, with estimates ranging from $183.59 billion to $186.12 billion. For the next financial year, analysts anticipate that the firm will report sales of $194.34 billion per share, with estimates ranging from $188.74 billion to $199.68 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow CVS Health Corporation.
CVS Health Corporation (NYSE:CVS) last announced its earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 EPS for the quarter, topping the consensus estimate of $1.10 by $0.07. The business had revenue of $44.51 billion during the quarter, compared to the consensus estimate of $44.20 billion. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. CVS Health Corporation’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 EPS.
A number of analysts recently issued reports on CVS shares. Bank of America Corporation restated a “buy” rating and set a $106.67 price objective on shares of CVS Health Corporation in a report on Tuesday, February 28th. Evercore ISI restated an “outperform” rating and set a $88.00 price objective (up previously from $87.00) on shares of CVS Health Corporation in a report on Wednesday, May 3rd. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 price objective for the company in a report on Wednesday, May 17th. ValuEngine downgraded shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Tigress Financial started coverage on shares of CVS Health Corporation in a report on Thursday, April 27th. They set a “buy” rating for the company. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $93.98.
Shares of CVS Health Corporation (NYSE:CVS) traded down 0.56% during mid-day trading on Thursday, hitting $77.72. 353,425 shares of the company traded hands. CVS Health Corporation has a one year low of $69.30 and a one year high of $98.66. The firm has a 50-day moving average of $78.72 and a 200-day moving average of $79.38. The stock has a market capitalization of $79.18 billion, a price-to-earnings ratio of 16.21 and a beta of 0.92.
In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of CVS Health Corporation stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the completion of the sale, the chief financial officer now directly owns 176,983 shares in the company, valued at $14,158,640. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Helena Foulkes sold 20,332 shares of CVS Health Corporation stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $76.98, for a total transaction of $1,565,157.36. Following the sale, the executive vice president now owns 59,300 shares of the company’s stock, valued at $4,564,914. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in CVS. Kernodle & Katon Asset Management Group LLC raised its stake in shares of CVS Health Corporation by 842.3% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 1,404 shares of the pharmacy operator’s stock valued at $110,000 after buying an additional 1,255 shares during the last quarter. Mercer Capital Advisers Inc. bought a new stake in shares of CVS Health Corporation during the first quarter valued at about $118,000. SRS Capital Advisors Inc. bought a new stake in shares of CVS Health Corporation during the fourth quarter valued at about $120,000. D Orazio & Associates Inc. raised its stake in shares of CVS Health Corporation by 34.5% in the fourth quarter. D Orazio & Associates Inc. now owns 1,560 shares of the pharmacy operator’s stock valued at $123,000 after buying an additional 400 shares during the last quarter. Finally, Elgethun Capital Management bought a new stake in shares of CVS Health Corporation during the fourth quarter valued at about $133,000. Institutional investors and hedge funds own 81.98% of the company’s stock.
CVS Health Corporation Company Profile
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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