CVS Health (CVS) Announces Quarterly Earnings Results

CVS Health (NYSE:CVS) posted its quarterly earnings data on Thursday. The pharmacy operator reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04, Bloomberg Earnings reports. The business had revenue of $48.39 billion for the quarter, compared to analysts’ expectations of $47.54 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.71 EPS.

CVS Health (NYSE CVS) traded down $2.00 during mid-day trading on Thursday, reaching $72.35. The company had a trading volume of 6,558,702 shares, compared to its average volume of 8,926,927. The company has a market cap of $73,250.00, a PE ratio of 14.94, a PEG ratio of 1.24 and a beta of 0.92. CVS Health has a fifty-two week low of $66.45 and a fifty-two week high of $84.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, January 23rd. This represents a $2.00 annualized dividend and a yield of 2.76%. CVS Health’s dividend payout ratio (DPR) is presently 41.32%.

In related news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Jackson Grant Investment Advisers Inc. raised its stake in CVS Health by 0.6% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock valued at $232,000 after buying an additional 18 shares during the last quarter. Traynor Capital Management Inc. raised its stake in CVS Health by 1.3% during the 2nd quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock valued at $290,000 after buying an additional 48 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in CVS Health by 0.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock valued at $515,000 after buying an additional 53 shares during the last quarter. Brookstone Capital Management raised its stake in CVS Health by 1.8% during the 2nd quarter. Brookstone Capital Management now owns 3,153 shares of the pharmacy operator’s stock valued at $254,000 after buying an additional 55 shares during the last quarter. Finally, Mengis Capital Management Inc. raised its stake in CVS Health by 0.7% during the 2nd quarter. Mengis Capital Management Inc. now owns 11,415 shares of the pharmacy operator’s stock valued at $918,000 after buying an additional 75 shares during the last quarter. 81.69% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on the company. ValuEngine cut CVS Health from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Vetr cut CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price target on the stock. in a research report on Thursday, January 4th. Needham & Company LLC raised CVS Health from a “buy” rating to a “strong-buy” rating and boosted their price target for the stock from $88.00 to $100.00 in a research report on Tuesday, January 30th. Morgan Stanley raised CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price target on the stock in a research report on Friday, January 5th. Finally, SunTrust Banks boosted their price target on CVS Health to $90.00 and gave the stock a “buy” rating in a research report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. CVS Health presently has an average rating of “Buy” and an average target price of $88.27.

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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 for CVS Health (NYSE:CVS)

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