FY2024 EPS Estimates for CVS Health Cut by Leerink Partnrs

CVS Health Co. (NYSE:CVS) – Leerink Partnrs reduced their FY2024 earnings per share estimates for shares of CVS Health in a report released on Wednesday, December 18th. Leerink Partnrs analyst M. Cherny now anticipates that the pharmacy operator will earn $5.21 per share for the year, down from their previous estimate of $5.47. The consensus estimate for CVS Health’s current full-year earnings is $5.32 per share. Leerink Partnrs also issued estimates for CVS Health’s Q1 2025 earnings at $1.30 EPS, Q3 2025 earnings at $1.75 EPS, Q4 2025 earnings at $1.38 EPS, FY2025 earnings at $6.09 EPS, FY2026 earnings at $7.36 EPS and FY2027 earnings at $8.16 EPS.

A number of other brokerages have also recently weighed in on CVS. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. Evercore ISI raised 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. Mizuho reduced 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. Finally, Barclays dropped their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

CVS Health Price Performance

Shares of NYSE:CVS opened at $44.36 on Friday. CVS Health has a 52 week low of $43.60 and a 52 week high of $83.25. The firm has a market capitalization of $55.82 billion, a P/E ratio of 11.26, a PEG ratio of 0.89 and a beta of 0.54. The firm’s 50 day moving average is $56.24 and its two-hundred day moving average is $58.24. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

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

Institutional Investors Weigh In On CVS Health

A number of hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC increased its stake in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after buying an additional 3,071,613 shares in the last quarter. State Street Corp increased its holdings in shares of CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP purchased a new stake in shares of CVS Health in the third quarter valued at $121,987,000. Finally, Pathway Financial Advisers LLC grew its position in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the last quarter. Institutional investors 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.