CVS Health FY2024 EPS Forecast Reduced by Cantor Fitzgerald

CVS Health Co. (NYSE:CVS) – Research analysts at Cantor Fitzgerald decreased their FY2024 earnings per share (EPS) estimates for CVS Health in a research report issued on Tuesday, December 31st. Cantor Fitzgerald analyst S. James now anticipates that the pharmacy operator will earn $5.19 per share for the year, down from their prior forecast of $5.29. Cantor Fitzgerald has a “Neutral” rating and a $62.00 price target on the stock. The consensus estimate for CVS Health’s current full-year earnings is $5.32 per share.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.21 EPS.

Several other research firms also recently issued reports on CVS. Truist Financial reaffirmed a “buy” rating and set a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Barclays lowered their price target 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 analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $69.12.

CVS Health Stock Down 1.5 %

Shares of NYSE:CVS opened at $44.22 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health has a 52-week low of $43.56 and a 52-week high of $83.25. The company has a market capitalization of $55.65 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.85 and a beta of 0.54. The company has a fifty day moving average of $53.05 and a 200-day moving average of $57.21.

Hedge Funds Weigh In On CVS Health

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new stake in CVS Health during the 2nd quarter valued at $126,000. Summit Financial LLC lifted its holdings in CVS Health by 190.6% during the 2nd quarter. Summit Financial LLC now owns 12,166 shares of the pharmacy operator’s stock worth $719,000 after purchasing an additional 7,979 shares in the last quarter. CM Management LLC purchased a new position in CVS Health during the 2nd quarter valued at about $1,772,000. Novare Capital Management LLC increased its position in shares of CVS Health by 6.7% during the second quarter. Novare Capital Management LLC now owns 96,383 shares of the pharmacy operator’s stock valued at $5,692,000 after buying an additional 6,081 shares during the period. Finally, Founders Financial Securities LLC lifted its holdings in shares of CVS Health by 3.1% in the second quarter. Founders Financial Securities LLC now owns 13,906 shares of the pharmacy operator’s stock worth $821,000 after buying an additional 420 shares in the last quarter. 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.