CVS Health Co. to Post Q2 2024 Earnings of $2.13 Per Share, Leerink Partnrs Forecasts (NYSE:CVS)

CVS Health Co. (NYSE:CVS) – Analysts at Leerink Partnrs upped their Q2 2024 earnings per share (EPS) estimates for shares of CVS Health in a note issued to investors on Monday, April 22nd. Leerink Partnrs analyst M. Cherny now anticipates that the pharmacy operator will earn $2.13 per share for the quarter, up from their previous estimate of $2.09. Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for CVS Health’s current full-year earnings is $8.32 per share. Leerink Partnrs also issued estimates for CVS Health’s Q3 2024 earnings at $2.19 EPS, Q4 2024 earnings at $2.15 EPS, FY2024 earnings at $8.24 EPS, FY2025 earnings at $9.05 EPS, FY2026 earnings at $9.80 EPS and FY2027 earnings at $10.40 EPS.

A number of other equities analysts have also weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a research note on Wednesday, April 10th. Barclays started coverage on shares of CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. Wells Fargo & Company reduced their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Royal Bank of Canada dropped their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Finally, StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Trading Down 0.2 %

Shares of CVS Health stock opened at $69.61 on Tuesday. CVS Health has a 1-year low of $64.41 and a 1-year high of $83.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The stock has a market cap of $87.74 billion, a P/E ratio of 10.78, a P/E/G ratio of 0.92 and a beta of 0.52. The stock’s 50 day simple moving average is $75.13 and its 200-day simple moving average is $73.77.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same period last year, the firm posted $1.99 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.82%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Insider Buying and Selling at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Institutional Trading of CVS Health

A number of large investors have recently made changes to their positions in CVS. SOA Wealth Advisors LLC. raised its holdings in shares of CVS Health by 4.9% in the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after purchasing an additional 133 shares in the last quarter. Apella Capital LLC boosted its position in shares of CVS Health by 4.2% during the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after acquiring an additional 136 shares in the last quarter. Prairie Sky Financial Group LLC increased its holdings in shares of CVS Health by 4.1% in the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock valued at $285,000 after acquiring an additional 141 shares during the last quarter. WealthShield Partners LLC raised its position in shares of CVS Health by 3.2% during the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock worth $355,000 after acquiring an additional 141 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its holdings in CVS Health by 9.5% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock valued at $129,000 after purchasing an additional 142 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Company Profile

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.