Analysts predict that CVS Health Co. (NYSE: CVS) will post sales of $ 73.95 billion for the current quarter, according to Zacks. Six analysts have released earnings estimates for CVS Health, with estimates ranging from $ 71.71 billion to $ 75.64 billion. CVS Health reported sales of $ 69.55 billion in the same quarter last year, suggesting a positive growth rate of 6.3% year-over-year. The company is expected to report its next results on Tuesday, February 15.
According to Zacks, analysts expect CVS Health to report annual sales of $ 289.85 billion for the current year, with estimates ranging from $ 288.61 billion to $ 291.10 billion. For the next fiscal year, analysts predict the company will post sales of $ 303.11 billion, with estimates ranging from $ 299.84 billion to $ 305.53 billion. Zacks’ sales calculations are an average based on a survey of analysts who follow CVS Health.
CVS Health (NYSE: CVS) last reported its quarterly results on Wednesday, November 3. The drugstore operator reported earnings per share of $ 1.97 for the quarter, beating analyst consensus estimates of $ 1.79 by $ 0.18. CVS Health recorded a return on equity of 14.16% and a net margin of 2.66%. The company posted revenue of $ 73.79 billion for the quarter, compared to a consensus estimate of $ 70.52 billion. In the same quarter of the previous year, the company achieved earnings per share of $ 1.66. The company’s turnover is up 10.0% compared to the same quarter last year.
CVS has been the subject of several recent research reports. Truist raised its price target on CVS Health from $ 112.00 to $ 118.00 and gave the company a “buy” rating in a research note on Friday. The company hosted an “optimistic” investor day that highlighted its unique collection of assets, revealed a new push in healthcare delivery and increased the optionality of its balance sheet, analyst told investors in a research note. MacDonald adds that he has a positive view of the evolution of CVS’s healthcare strategy and expects the advancement in the delivery capabilities of primary care physicians and other services to be increased through strategic mergers and acquisitions. Credit Suisse Group raised its price target on CVS Health from $ 107.00 to $ 120.00 and gave the stock an “outperformance” rating in a research note on Friday. Truist Securities raised its target price on CVS Health from $ 112.00 to $ 118.00 and gave the stock a “buy” rating in a research note on Friday. Seaport Research Partners supported CVS Health in a research note on Wednesday, December 1. They set a “buy” rating and a target price of $ 110.00 for the company. Finally, Barclays increased its price target on CVS Health from $ 100.00 to $ 110.00 and assigned the company an “overweight” rating in a Thursday, November 4 research note. Four investment analysts assigned a conservation rating to the stock, seventeen issued a buy rating and one assigned a high buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $ 107.19.
Shares of CVS opened at $ 98.86 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.67, and a debt to equity ratio of 0.76. The stock has a market cap of $ 130.50 billion, a price / earnings ratio of 17.28, a price / earnings-growth ratio of 1.83, and a beta of 0.83. The stock has a 50-day simple moving average of $ 90.06 and a 200-day simple moving average of $ 86.22. CVS Health has a one-year low at $ 67.06 and a one-year high at $ 99.13.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 1. Shareholders of record on Friday January 21 will receive a dividend of $ 0.55 per share. The ex-dividend date for this dividend is Thursday, January 20. This represents an annualized dividend of $ 2.20 and a dividend yield of 2.23%. This is a boost from CVS Health’s previous quarterly dividend of $ 0.50. CVS Health’s dividend payout ratio (DPR) is currently 34.97%.
Meanwhile, COO Jonathan C. Roberts sold 108,870 CVS Health shares in a trade that took place on Wednesday, November 3. The shares were sold at an average price of $ 95.00, for a total value of $ 10,342,650.00. The transaction was disclosed in a legal file with the SEC, which is available on the SEC’s website. Additionally, Executive Vice President Troyen A. Brennan sold 82,757 CVS Health shares in a trade that took place on Tuesday, October 26. The shares were sold at an average price of $ 88.00, for a total trade of $ 7,282,616.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 219,786 shares of the company valued at $ 20,159,576. Insiders own 0.69% of the company’s shares.
Several institutional investors and hedge funds have recently increased or reduced their holdings in CVS. PFG Private Wealth Management LLC increased its stake in CVS Health shares by 2.4% during the 3rd quarter. PFG Private Wealth Management LLC now owns 4,553 shares of the pharmacy operator valued at $ 386,000 after acquiring 106 additional shares during the last quarter. Sepio Capital LP increased its stake in CVS Health shares by 0.6% during the 3rd quarter. Sepio Capital LP now owns 18,879 shares of the pharmacy operator valued at $ 1,602,000 after acquiring 114 additional shares during the last quarter. Bragg Financial Advisors Inc increased its stake in CVS Health shares by 2.3% during the 3rd quarter. Bragg Financial Advisors Inc now owns 5,193 shares of the drugstore operator valued at $ 441,000 after acquiring 115 additional shares in the last quarter. Sage Mountain Advisors LLC increased its stake in CVS Health shares by 1.8% during the 3rd quarter. Sage Mountain Advisors LLC now owns 6,522 shares of the Pharmacy Operator valued at $ 553,000 after acquiring 117 additional shares in the last quarter. Finally, We Are One Seven LLC increased its stake in CVS Health by 0.4% in the third quarter. We Are One Seven LLC now owns 29,752 shares of the drugstore operator valued at $ 2,656,000 after purchasing 118 additional shares in the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s shares.
About CVS Santé
CVS Health Corp. provides health care services. It operates in the following segments: pharmacy services, retail or long term care, health care provision and business / other. The Pharmacy Services segment provides solutions for the management of pharmaceutical benefits. The Retail or Long-Term Care segment comprises the sale of prescription drugs and an assortment of general merchandise.
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