CVS Health FY2024 EPS Estimate Decreased by Leerink Partnrs

CVS Health Co. (NYSE:CVS) – Leerink Partnrs lowered their FY2024 EPS estimates for shares of CVS Health in a report issued on Monday, November 18th. Leerink Partnrs analyst M. Cherny now anticipates that the pharmacy operator will post earnings per share of $5.47 for the year, down from their previous forecast 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 Health (NYSE:CVS) last posted its quarterly 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. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 earnings per share.

CVS has been the topic of a number of 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 research report on Friday, October 11th. UBS Group increased their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Royal Bank of Canada reduced their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Finally, StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.78.

CVS Health Stock Down 0.4 %

NYSE CVS opened at $55.82 on Tuesday. The stock has a market cap of $70.24 billion, a PE ratio of 14.17, a P/E/G ratio of 0.92 and a beta of 0.55. The business has a 50 day moving average price of $59.18 and a two-hundred day moving average price of $58.60. CVS Health has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.77%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is presently 67.51%.

Hedge Funds Weigh In On CVS Health

A number of large investors have recently modified their holdings of CVS. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter valued at $25,000. Livelsberger Financial Advisory acquired a new stake in CVS Health in the third quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health during the 3rd quarter valued at about $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health in the 3rd quarter valued at about $32,000. Finally, First Community Trust NA grew its position in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.