FY2024 EPS Estimates for CVS Health Cut by Leerink Partnrs

CVS Health Co. (NYSE:CVS) – Investment analysts at Leerink Partnrs decreased their FY2024 earnings estimates for shares of CVS Health in a report issued on Monday, January 27th. Leerink Partnrs analyst M. Cherny now forecasts that the pharmacy operator will earn $5.16 per share for the year, down from their prior estimate of $5.21. The consensus estimate for CVS Health’s current full-year earnings is $5.22 per share. Leerink Partnrs also issued estimates for CVS Health’s Q4 2024 earnings at $0.94 EPS, Q1 2025 earnings at $1.20 EPS, Q2 2025 earnings at $1.58 EPS, Q3 2025 earnings at $1.67 EPS, Q4 2025 earnings at $1.32 EPS, FY2025 earnings at $5.77 EPS and FY2026 earnings at $7.10 EPS.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $92.72 billion. During the same quarter in the previous year, the business earned $2.21 EPS. The firm’s revenue was up 6.3% on a year-over-year basis.

CVS has been the topic of several other reports. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Royal Bank of Canada reduced their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Finally, Mizuho dropped their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Trading Down 0.6 %

CVS opened at $57.00 on Tuesday. The firm’s fifty day simple moving average is $51.27 and its 200 day simple moving average is $56.18. The stock has a market capitalization of $71.73 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.80 and a beta of 0.59. 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 has a 12 month low of $43.56 and a 12 month high of $80.75.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

Hedge Funds Weigh In On CVS Health

A number of hedge funds have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its stake 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 acquiring an additional 3,071,613 shares during the last quarter. ARGA Investment Management LP increased its stake in CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after purchasing an additional 2,371,563 shares in the last quarter. State Street Corp lifted its stake in shares of CVS Health by 3.6% in the third 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 in the last quarter. TOMS Capital Investment Management LP bought a new stake in shares of CVS Health during the third quarter valued at approximately $121,987,000. Finally, Pathway Financial Advisers LLC raised its holdings 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 worth $108,804,000 after acquiring an additional 1,701,331 shares during the last quarter. Hedge funds and other 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.