Leerink Partnrs Forecasts Reduced Earnings for CVS Health

CVS Health Co. (NYSE:CVS) – Stock analysts at Leerink Partnrs lowered their FY2024 earnings per share (EPS) estimates for CVS Health in a report released on Monday, November 18th. Leerink Partnrs analyst M. Cherny now expects that the pharmacy operator will earn $5.47 per share for the year, down from their previous estimate of $5.62. The consensus estimate for CVS Health’s current full-year earnings is $5.48 per share. Leerink Partnrs also issued estimates for CVS Health’s Q4 2024 earnings at $1.24 EPS, Q1 2025 earnings at $1.33 EPS, Q4 2025 earnings at $1.43 EPS, FY2025 earnings at $6.28 EPS, FY2026 earnings at $7.62 EPS and FY2027 earnings at $8.40 EPS.

CVS has been the topic of several other reports. Truist Financial lifted their target price on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Mizuho decreased their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $59.00 to $85.00 in a report on Friday, October 4th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $66.00 in a report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.78.

CVS Health Trading Down 0.4 %

CVS opened at $55.82 on Tuesday. CVS Health has a twelve month low of $52.71 and a twelve month high of $83.25. The firm has a market cap of $70.24 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm’s fifty day moving average is $59.18 and its two-hundred day moving average is $58.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company posted $2.21 EPS.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.77%. CVS Health’s payout ratio is 67.51%.

Hedge Funds Weigh In On CVS Health

A number of institutional investors have recently bought and sold shares of the business. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter valued at about $25,000. Livelsberger Financial Advisory bought a new stake in CVS Health during the third quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health during the third quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health during the 3rd quarter worth $32,000. Finally, First Community Trust NA raised its stake in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.