Q3 EPS Estimates for CVS Health Decreased by Leerink Partnrs

CVS Health Co. (NYSE:CVS) – Analysts at Leerink Partnrs cut their Q3 2024 earnings per share estimates for shares of CVS Health in a note issued to investors on Friday, October 18th. Leerink Partnrs analyst M. Cherny now forecasts that the pharmacy operator will post earnings of $1.70 per share for the quarter, down from their previous estimate of $1.71. The consensus estimate for CVS Health’s current full-year earnings is $6.51 per share. Leerink Partnrs also issued estimates for CVS Health’s Q1 2025 earnings at $1.59 EPS, Q2 2025 earnings at $1.88 EPS, Q3 2025 earnings at $1.88 EPS and Q4 2025 earnings at $1.82 EPS.

CVS has been the topic of several other research reports. Barclays upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $63.00 to $82.00 in a report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.26.

CVS Health Stock Down 3.6 %

Shares of NYSE CVS opened at $58.18 on Monday. The firm has a fifty day moving average of $59.85 and a 200-day moving average of $60.32. CVS Health has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $73.04 billion, a PE ratio of 10.22, a P/E/G ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $2.21 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C acquired a new stake in CVS Health during the 2nd quarter worth about $57,584,000. CX Institutional grew its holdings in shares of CVS Health by 698.0% during the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock valued at $4,691,000 after acquiring an additional 65,259 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of CVS Health by 27.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after acquiring an additional 145,158 shares in the last quarter. Steph & Co. boosted its position in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. Finally, First Hawaiian Bank increased its position in CVS Health by 30.1% in the 2nd quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock worth $5,924,000 after purchasing an additional 23,213 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is presently 46.75%.

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.