CVS Health FY2024 EPS Estimate Reduced by Cantor Fitzgerald

CVS Health Co. (NYSE:CVS) – Cantor Fitzgerald lowered their FY2024 EPS estimates for shares of CVS Health in a report issued on Tuesday, December 31st. Cantor Fitzgerald analyst S. James now anticipates that the pharmacy operator will post earnings per share of $5.19 for the year, down from their previous forecast of $5.29. Cantor Fitzgerald currently has a “Neutral” rating and a $62.00 price objective on the stock. The consensus estimate for CVS Health’s current full-year earnings is $5.32 per share.

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

CVS has been the topic of several other reports. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Mizuho dropped their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Evercore ISI lifted their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Truist Financial restated a “buy” rating and set a $67.00 price target (down from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $69.12.

CVS Health Stock Performance

CVS Health stock opened at $44.89 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $56.49 billion, a P/E ratio of 11.39, a PEG ratio of 0.85 and a beta of 0.54. The stock has a fifty day moving average price of $53.30 and a 200 day moving average price of $57.30. CVS Health has a 52 week low of $43.56 and a 52 week high of $83.25.

Hedge Funds Weigh In On CVS Health

A number of institutional investors have recently added to or reduced their stakes in CVS. Assetmark Inc. grew its position in shares of CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after buying an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares in the last quarter. Cullinan Associates Inc. increased its position in shares of CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after purchasing an additional 37,395 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after purchasing an additional 66,244 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its stake in CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Company Profile

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.