CVS Health Corp (NYSE:CVS) – Equities research analysts at Cantor Fitzgerald upped their FY2019 EPS estimates for CVS Health in a research report issued on Thursday, November 7th. Cantor Fitzgerald analyst S. Halper now expects that the pharmacy operator will post earnings per share of $7.02 for the year, up from their previous forecast of $6.95.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.07. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The company had revenue of $64.81 billion during the quarter, compared to the consensus estimate of $62.99 billion. During the same period last year, the company earned $1.73 earnings per share. The firm’s revenue was up 36.5% compared to the same quarter last year.
Other equities research analysts have also recently issued research reports about the company. ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Mizuho raised their price objective on CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a research note on Friday. SunTrust Banks raised their price objective on CVS Health to $85.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI set a $63.00 price objective on CVS Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Cowen set a $76.00 price objective on CVS Health and gave the company a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $78.17.
NYSE CVS traded up $0.70 during trading hours on Friday, hitting $72.48. 7,305,338 shares of the company’s stock were exchanged, compared to its average volume of 6,966,567. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. CVS Health has a 1-year low of $51.72 and a 1-year high of $82.15. The stock has a 50-day simple moving average of $64.49 and a 200 day simple moving average of $58.44. The firm has a market cap of $87.55 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86.
The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.76%. The ex-dividend date was Wednesday, October 23rd. CVS Health’s dividend payout ratio is currently 28.25%.
In other CVS Health news, EVP Troyen A. Brennan sold 23,604 shares of CVS Health stock in a transaction on Monday, November 4th. The shares were sold at an average price of $68.00, for a total value of $1,605,072.00. Following the transaction, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at $7,338,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eva C. Boratto sold 8,130 shares of CVS Health stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $65.00, for a total transaction of $528,450.00. Following the completion of the transaction, the chief financial officer now directly owns 55,273 shares in the company, valued at $3,592,745. The disclosure for this sale can be found here. Insiders sold 49,437 shares of company stock worth $3,248,811 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in CVS Health by 1.2% in the second quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock valued at $5,578,027,000 after purchasing an additional 1,167,143 shares during the last quarter. Northern Trust Corp boosted its holdings in CVS Health by 1.1% in the second quarter. Northern Trust Corp now owns 18,328,099 shares of the pharmacy operator’s stock valued at $998,699,000 after purchasing an additional 205,275 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in CVS Health by 10.9% in the second quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock valued at $757,707,000 after purchasing an additional 1,372,275 shares during the last quarter. Morgan Stanley boosted its holdings in CVS Health by 12.8% in the second quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock valued at $750,088,000 after purchasing an additional 1,560,142 shares during the last quarter. Finally, Veritas Asset Management LLP boosted its holdings in CVS Health by 0.7% in the second quarter. Veritas Asset Management LLP now owns 12,269,758 shares of the pharmacy operator’s stock valued at $668,579,000 after purchasing an additional 90,700 shares during the last quarter. 76.17% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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