FY2024 EPS Estimates for CVS Health Decreased by Analyst

CVS Health Co. (NYSE:CVS) – Leerink Partnrs decreased their FY2024 earnings per share (EPS) estimates for CVS Health in a report released on Wednesday, December 18th. Leerink Partnrs analyst M. Cherny now forecasts that the pharmacy operator will earn $5.21 per share for the year, down from their previous forecast 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.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping 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 company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis.

Other analysts have also recently issued reports about the company. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Mizuho decreased their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a 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 report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued 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. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $56.24 and a 200 day moving average price of $58.23. CVS Health has a 52 week low of $43.60 and a 52 week high of $83.25. The company has a market cap of $55.82 billion, a P/E ratio of 11.26, a PEG ratio of 0.89 and a beta of 0.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVS. Assetmark Inc. lifted its stake 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 valued at $25,781,000 after buying an additional 36,132 shares during the period. TD Private Client Wealth LLC raised its holdings in CVS Health by 28.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after acquiring an additional 10,465 shares during the last quarter. Cullinan Associates Inc. lifted its stake in shares of CVS Health by 43.8% during 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 period. Sompo Asset Management Co. Ltd. boosted its holdings in shares of CVS Health by 8.4% during 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 during the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of CVS Health in the second quarter valued at $57,584,000. 80.66% of the stock is currently owned by hedge funds and other 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.