Leerink Partnrs Weighs in on CVS Health FY2024 Earnings

CVS Health Co. (NYSE:CVS) – Equities research analysts at Leerink Partnrs dropped their FY2024 earnings estimates for CVS Health in a research report issued on Monday, January 27th. Leerink Partnrs analyst M. Cherny now anticipates that the pharmacy operator will post earnings per share of $5.16 for the year, down from their previous 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 released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 EPS.

Other research analysts have also issued research reports about the stock. UBS Group increased their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Mizuho lowered 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 report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Finally, Truist Financial lowered their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.12.

CVS Health Stock Performance

Shares of CVS Health stock opened at $56.20 on Tuesday. The business’s fifty day simple moving average is $51.24 and its 200-day simple moving average is $56.20. 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 firm has a market cap of $70.72 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. CVS Health has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.73%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Institutional Trading of CVS Health

A number of institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC raised its position in shares of CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after acquiring an additional 162 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in CVS Health by 3.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after purchasing an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of CVS Health by 13.1% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after buying an additional 195 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in shares of CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after buying an additional 200 shares in the last quarter. Finally, Widmann Financial Services Inc. raised its stake in CVS Health by 1.8% during the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after acquiring an additional 200 shares in the last quarter. 80.66% of the stock is 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.