CVS Health Corporation (NYSE:CVS) – Equities researchers at Leerink Swann decreased their Q3 2017 EPS estimates for CVS Health Corporation in a research report issued to clients and investors on Wednesday. Leerink Swann analyst D. Larsen now expects that the pharmacy operator will earn $1.49 per share for the quarter, down from their previous estimate of $1.63. Leerink Swann has a “Buy” rating and a $90.00 price target on the stock. Leerink Swann also issued estimates for CVS Health Corporation’s Q4 2017 earnings at $1.87 EPS.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The firm had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. During the same period in the prior year, the firm earned $1.32 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year.
Other research analysts also recently issued research reports about the stock. Vetr downgraded shares of CVS Health Corporation from a “buy” rating to a “hold” rating and set a $85.78 target price on the stock. in a report on Thursday, April 27th. Cowen and Company restated an “outperform” rating and set a $86.00 price objective on shares of CVS Health Corporation in a report on Tuesday, June 13th. BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Needham & Company LLC initiated coverage on shares of CVS Health Corporation in a report on Tuesday, June 27th. They set a “hold” rating on the stock. Finally, Jefferies Group LLC restated a “hold” rating and set a $82.00 price objective on shares of CVS Health Corporation in a report on Friday, July 14th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. CVS Health Corporation currently has an average rating of “Buy” and a consensus target price of $91.27.
Shares of CVS Health Corporation (CVS) opened at 79.41 on Friday. The company has a 50-day moving average price of $78.83 and a 200 day moving average price of $78.96. The firm has a market capitalization of $80.73 billion, a P/E ratio of 15.82 and a beta of 0.91. CVS Health Corporation has a one year low of $69.30 and a one year high of $98.44.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, July 20th. This represents a $2.00 annualized dividend and a dividend yield of 2.52%. CVS Health Corporation’s dividend payout ratio (DPR) is currently 39.92%.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $76.98, for a total value of $1,565,157.36. Following the transaction, the executive vice president now directly owns 59,300 shares in the company, valued at $4,564,914. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the completion of the transaction, the chief financial officer now owns 176,983 shares in the company, valued at $14,158,640. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 271,175 shares of company stock worth $21,632,597. 0.61% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CVS. Mercer Capital Advisers Inc. purchased a new position in CVS Health Corporation during the first quarter worth approximately $118,000. Gemmer Asset Management LLC raised its position in CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after buying an additional 200 shares during the period. TB Alternative Assets Ltd. purchased a new position in CVS Health Corporation during the second quarter worth approximately $121,000. Captrust Financial Advisors purchased a new position in CVS Health Corporation during the second quarter worth approximately $155,000. Finally, Orrstown Financial Services Inc. raised its position in CVS Health Corporation by 2,000.0% in the first quarter. Orrstown Financial Services Inc. now owns 2,100 shares of the pharmacy operator’s stock worth $165,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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