FY2024 EPS Estimates for CVS Health Cut by Leerink Partnrs

CVS Health Co. (NYSE:CVS) – Stock analysts at Leerink Partnrs reduced their FY2024 EPS estimates for shares of CVS Health in a research report issued on Wednesday, November 6th. Leerink Partnrs analyst M. Cherny now expects that the pharmacy operator will post earnings of $5.62 per share for the year, down from their previous estimate of $6.18. The consensus estimate for CVS Health’s current full-year earnings is $5.63 per share. Leerink Partnrs also issued estimates for CVS Health’s Q4 2024 earnings at $1.39 EPS, Q3 2025 earnings at $1.92 EPS, FY2026 earnings at $7.82 EPS and FY2027 earnings at $8.65 EPS.

A number of other equities analysts have also recently issued reports on the company. Truist Financial increased 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. Wells Fargo & Company lowered their target price on CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. UBS Group increased their target price on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

CVS Health Price Performance

CVS stock opened at $55.81 on Monday. The stock has a 50-day moving average price of $59.56 and a two-hundred day moving average price of $59.06. The stock has a market cap of $70.23 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.88 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 0.80. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 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 during the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the prior year, the company earned $2.21 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 annualized dividend and a yield of 4.77%. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Cypress Capital Group raised its holdings in CVS Health by 5.1% in the 3rd quarter. Cypress Capital Group now owns 6,654 shares of the pharmacy operator’s stock valued at $418,000 after acquiring an additional 320 shares during the period. Landscape Capital Management L.L.C. increased its holdings in shares of CVS Health by 45.4% during the third quarter. Landscape Capital Management L.L.C. now owns 75,524 shares of the pharmacy operator’s stock worth $4,749,000 after purchasing an additional 23,594 shares during the period. Intech Investment Management LLC increased its holdings in shares of CVS Health by 70.5% during the third quarter. Intech Investment Management LLC now owns 96,520 shares of the pharmacy operator’s stock worth $6,069,000 after purchasing an additional 39,919 shares during the period. Payden & Rygel bought a new position in shares of CVS Health during the third quarter worth approximately $6,282,000. Finally, Pzena Investment Management LLC increased its holdings in shares of CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after purchasing an additional 198,920 shares during the period. 80.66% of the stock is owned by institutional investors.

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.