CVS Health Corp (NYSE:CVS) – Investment analysts at Oppenheimer dropped their FY2018 earnings per share estimates for CVS Health in a research report issued to clients and investors on Monday. Oppenheimer analyst M. Naidu now forecasts that the pharmacy operator will post earnings per share of $6.17 for the year, down from their prior forecast of $6.36. Oppenheimer has a “Buy” rating and a $95.00 price objective on the stock. Oppenheimer also issued estimates for CVS Health’s FY2019 earnings at $6.57 EPS.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. The company had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. CVS Health’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.64 earnings per share.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird reiterated a “hold” rating and set a $77.00 price target on shares of CVS Health in a research report on Friday, October 27th. Needham & Company LLC upgraded CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $69.02 to $79.00 in a research report on Friday, November 10th. Mizuho set a $90.00 price objective on CVS Health and gave the stock a “buy” rating in a research report on Tuesday, October 24th. BidaskClub downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Loop Capital began coverage on CVS Health in a research report on Thursday, August 24th. They set a “hold” rating and a $83.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $86.35.

Shares of CVS Health (CVS) traded down $0.68 during mid-day trading on Wednesday, reaching $71.01. The company’s stock had a trading volume of 15,423,900 shares, compared to its average volume of 6,880,704. The stock has a market capitalization of $72,621.40, a P/E ratio of 12.56, a P/E/G ratio of 1.23 and a beta of 0.89. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. CVS Health has a 52 week low of $66.45 and a 52 week high of $84.72.

Hedge funds have recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. increased its stake in shares of CVS Health by 3.2% in the second quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock valued at $2,584,000 after purchasing an additional 1,000 shares during the period. Community Bank N.A. grew its holdings in CVS Health by 7.3% during the second quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock valued at $1,608,000 after purchasing an additional 1,362 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of CVS Health by 3.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock valued at $13,840,000 after buying an additional 5,478 shares during the period. Midwest Investment Management LLC boosted its holdings in shares of CVS Health by 6.2% in the second quarter. Midwest Investment Management LLC now owns 21,382 shares of the pharmacy operator’s stock valued at $1,720,000 after buying an additional 1,245 shares during the period. Finally, Fiduciary Trust Co. boosted its holdings in shares of CVS Health by 1.2% in the first quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock valued at $28,732,000 after buying an additional 4,265 shares during the period. Institutional investors and hedge funds own 82.24% of the company’s stock.

In other news, insider Larry J. Merlo sold 241,150 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the completion of the sale, the insider now directly owns 299,255 shares in the company, valued at approximately $24,859,112.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas M. Moriarty sold 20,547 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $81.17, for a total value of $1,667,799.99. Following the sale, the executive vice president now owns 43,178 shares of the company’s stock, valued at $3,504,758.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 714,125 shares of company stock valued at $58,119,381. Insiders own 0.61% of the company’s stock.

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CVS Health 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.

Earnings History and Estimates for CVS Health (NYSE:CVS)

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