Wall Street brokerages predict that CVS Health Corp (NYSE:CVS) will report sales of $63.04 billion for the current fiscal quarter, according to Zacks Investment Research. Twenty Six analysts have made estimates for CVS Health’s earnings. The lowest sales estimate is $61.64 billion and the highest is $63.95 billion. CVS Health posted sales of $47.27 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 33.4%. The business is scheduled to issue its next earnings results on Tuesday, November 5th.
On average, analysts expect that CVS Health will report full-year sales of $252.42 billion for the current year, with estimates ranging from $248.37 billion to $254.27 billion. For the next fiscal year, analysts expect that the business will post sales of $256.29 billion, with estimates ranging from $240.19 billion to $272.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow CVS Health.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.19. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The company had revenue of $63.43 billion for the quarter, compared to the consensus estimate of $62.66 billion. During the same quarter in the previous year, the business earned $1.69 earnings per share. The company’s revenue for the quarter was up 35.2% on a year-over-year basis.
In related news, CFO Eva C. Boratto sold 8,130 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $65.00, for a total value of $528,450.00. Following the completion of the sale, the chief financial officer now directly owns 55,273 shares of the company’s stock, valued at approximately $3,592,745. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Joshua Matthew Flum sold 17,703 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $63.00, for a total value of $1,115,289.00. Following the completion of the sale, the executive vice president now directly owns 36,163 shares of the company’s stock, valued at $2,278,269. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Centaurus Financial Inc. lifted its position in CVS Health by 570.8% during the 1st quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 1,387 shares during the period. Manchester Financial Inc. acquired a new stake in CVS Health during the 2nd quarter worth approximately $31,000. Hudock Capital Group LLC lifted its position in CVS Health by 54.0% during the 2nd quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 202 shares during the period. Executive Wealth Management LLC lifted its position in CVS Health by 62.4% during the 2nd quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 217 shares during the period. Finally, Tarbox Family Office Inc. lifted its position in CVS Health by 74.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 580 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 248 shares during the period. 75.91% of the stock is owned by hedge funds and other institutional investors.
Shares of CVS stock traded up $1.02 on Tuesday, hitting $62.24. The stock had a trading volume of 4,696,754 shares, compared to its average volume of 10,452,709. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.95 and a quick ratio of 0.64. The firm has a market capitalization of $81.09 billion, a P/E ratio of 8.79, a P/E/G ratio of 1.36 and a beta of 0.86. CVS Health has a 1 year low of $51.72 and a 1 year high of $82.15. The company’s 50 day moving average price is $61.91 and its 200-day moving average price is $56.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.21%. CVS Health’s dividend payout ratio is currently 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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