CVS Health FY2024 EPS Forecast Decreased by Leerink Partnrs

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

Other analysts also recently issued reports about the company. UBS Group upped their price objective on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $66.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.78.

CVS Health Trading Up 5.4 %

Shares of CVS stock opened at $56.08 on Tuesday. 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 business has a fifty day simple moving average of $59.19 and a 200-day simple moving average of $58.60. CVS Health has a fifty-two week low of $52.71 and a fifty-two week high of $83.25. The stock has a market cap of $70.57 billion, a P/E ratio of 14.23, a P/E/G ratio of 0.92 and a beta of 0.55.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.74%. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CVS. Garland Capital Management Inc. boosted its position in CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after buying an additional 160 shares during the last quarter. Sound Income Strategies LLC grew its stake in CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares in the last quarter. Plimoth Trust Co. LLC increased its holdings in CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after purchasing an additional 174 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC boosted its stake in shares of CVS Health by 2.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after buying an additional 183 shares during the last quarter. 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.