CVS Health Corporation (NYSE:CVS) Updates Q3 Earnings Guidance
CVS Health Corporation (NYSE:CVS) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.47-1.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.63. CVS Health Corporation also updated its FY17 guidance to $5.83-5.93 EPS.
Several equities analysts recently commented on the stock. BidaskClub raised shares of CVS Health Corporation from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a hold rating and set a $82.00 price target on shares of CVS Health Corporation in a research report on Friday, June 9th. ValuEngine lowered shares of CVS Health Corporation from a buy rating to a hold rating in a research report on Friday, June 2nd. Vetr raised shares of CVS Health Corporation from a buy rating to a strong-buy rating and set a $88.97 price target for the company in a research report on Tuesday, June 6th. Finally, Cowen and Company reissued an outperform rating and set a $86.00 price target on shares of CVS Health Corporation in a research report on Tuesday, June 13th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $92.20.
Shares of CVS Health Corporation (CVS) traded down 2.73% during midday trading on Tuesday, hitting $76.96. 2,149,822 shares of the stock were exchanged. CVS Health Corporation has a one year low of $69.30 and a one year high of $98.44. The firm has a 50 day moving average of $78.75 and a 200-day moving average of $79.09. The company has a market cap of $78.41 billion, a price-to-earnings ratio of 16.05 and a beta of 0.91. CVS Health Corporation also was the target of unusually large options trading on Monday. Stock traders bought 12,222 put options on the stock. This represents an increase of approximately 254% compared to the typical 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 EPS for the quarter, topping 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 business had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. During the same quarter in the prior year, the business earned $1.32 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts expect that CVS Health Corporation will post $5.87 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is presently 41.67%.
In related news, EVP Helena Foulkes sold 20,333 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the transaction, the executive vice president now owns 59,301 shares of the company’s stock, valued at $4,744,080. The sale 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 company’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 transaction, the chief financial officer now directly owns 176,983 shares in the company, valued at approximately $14,158,640. The disclosure for this sale can be found here. Insiders have sold 271,175 shares of company stock worth $21,632,597 in the last ninety days. 0.61% of the stock is currently owned by corporate insiders.
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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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