Oppenheimer Equities Analysts Reduce Earnings Estimates for CVS Health Corp (CVS)

CVS Health Corp (NYSE:CVS) – Oppenheimer lowered their Q3 2018 earnings estimates for CVS Health in a note issued to investors on Thursday. Oppenheimer analyst M. Naidu now forecasts that the pharmacy operator will earn $1.43 per share for the quarter, down from their prior estimate of $1.62.

CVS Health (NYSE:CVS) last issued its earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The business had revenue of $48.39 billion during the quarter, compared to the consensus estimate of $47.54 billion. During the same period last year, the business posted $1.71 EPS. CVS Health’s revenue was up 5.3% on a year-over-year basis.

Several other equities research analysts also recently issued reports on the stock. Robert W. Baird reiterated a “hold” rating and issued a $77.00 target price on shares of CVS Health in a research note on Friday, October 27th. Needham & Company LLC upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their target price for the company from $69.02 to $79.00 in a research note on Friday, November 10th. Deutsche Bank restated a “hold” rating on shares of CVS Health in a research report on Tuesday, December 5th. Mizuho set a $90.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Raymond James Financial restated a “buy” rating on shares of CVS Health in a research report on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $87.77.

Shares of CVS Health (CVS) opened at $69.39 on Monday. CVS Health has a one year low of $66.45 and a one year high of $84.00. The stock has a market cap of $70,290.00, a PE ratio of 11.76, a P/E/G ratio of 1.16 and a beta of 0.92. The company has a quick ratio of 0.55, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVS. Fieldpoint Private Securities LLC raised its position in shares of CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 1,000 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of CVS Health by 330.3% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 991 shares in the last quarter. Arcadia Investment Management Corp MI raised its position in shares of CVS Health by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after buying an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in CVS Health in the second quarter valued at approximately $119,000. Finally, Cerebellum GP LLC bought a new position in CVS Health in the fourth quarter valued at approximately $130,000. Institutional investors own 81.69% of the company’s stock.

In other news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the sale, the executive vice president now directly owns 15,556 shares in the company, valued at $1,166,700. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.61% of the stock is currently owned by insiders.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, January 23rd. This represents a $2.00 annualized dividend and a yield of 2.88%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.

ILLEGAL ACTIVITY NOTICE: “Oppenheimer Equities Analysts Reduce Earnings Estimates for CVS Health Corp (CVS)” was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/12/oppenheimer-equities-analysts-reduce-earnings-estimates-for-cvs-health-corp-cvs.html.

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)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply