CVS Health Corporation (NYSE:CVS) Issues FY17 Earnings Guidance
CVS Health Corporation (NYSE:CVS) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of $5.83-5.93 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.87. CVS Health Corporation also updated its Q3 guidance to $1.47-1.50 EPS.
A number of analysts have weighed in on the stock. Vetr downgraded shares of CVS Health Corporation from a buy rating to a hold rating and set a $85.78 target price for the company. in a research report on Thursday, April 27th. Tigress Financial assumed coverage on shares of CVS Health Corporation in a research report on Thursday, April 27th. They set a buy rating for the company. Needham & Company LLC assumed coverage on shares of CVS Health Corporation in a research report on Tuesday, June 27th. They set a hold rating for the company. Guggenheim reissued a buy rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Finally, Leerink Swann set a $90.00 target price on shares of CVS Health Corporation and gave the company a buy rating in a research report on Tuesday, June 27th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. CVS Health Corporation has an average rating of Buy and a consensus price target of $92.20.
CVS Health Corporation (NYSE CVS) opened at 79.12 on Tuesday. CVS Health Corporation has a one year low of $69.30 and a one year high of $98.44. The company has a 50 day moving average price of $78.75 and a 200-day moving average price of $79.09. The company has a market capitalization of $80.61 billion, a PE ratio of 16.50 and a beta of 0.91. CVS Health Corporation also saw some unusual options trading on Monday. Stock traders acquired 12,222 put options on the stock. This represents an increase of 254% compared to the typical daily volume of 3,454 put options.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.56% and a net margin of 2.86%. The company had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same period in the previous year, the company posted $1.32 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. Analysts expect that CVS Health Corporation will post $5.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors 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 2.53%. CVS Health Corporation’s dividend payout ratio is presently 41.67%.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,333 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $80.00, for a total value of $1,626,640.00. Following the sale, the executive vice president now directly owns 59,301 shares of the company’s stock, valued at $4,744,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the completion of the sale, the chief financial officer now directly owns 176,983 shares in the company, valued at $14,158,640. The disclosure for this sale can be found here. Insiders sold 271,175 shares of company stock worth $21,632,597 over the last three months. Corporate insiders own 0.61% of the company’s stock.
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About CVS Health Corporation
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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