CVS Health Corporation (CVS) Expected to Announce Quarterly Sales of $47.72 Billion
Equities analysts expect that CVS Health Corporation (NYSE:CVS) will report $47.72 billion in sales for the current quarter, Zacks reports. Seventeen analysts have provided estimates for CVS Health Corporation’s earnings, with estimates ranging from $46.84 billion to $48.78 billion. CVS Health Corporation reported sales of $45.97 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The firm is expected to report its next quarterly earnings results on Thursday, February 8th.
On average, analysts expect that CVS Health Corporation will report full year sales of $47.72 billion for the current year, with estimates ranging from $182.73 billion to $185.27 billion. For the next fiscal year, analysts expect that the company will post sales of $192.36 billion per share, with estimates ranging from $187.20 billion to $200.01 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover CVS Health Corporation.
CVS Health Corporation (NYSE:CVS) last released its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.01. The business had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the company earned $1.64 earnings per share.
A number of equities research analysts have recently weighed in on CVS shares. Royal Bank Of Canada started coverage on CVS Health Corporation in a research note on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price target on the stock. Robert W. Baird reaffirmed a “hold” rating and set a $77.00 target price on shares of CVS Health Corporation in a report on Friday, October 27th. Loop Capital initiated coverage on CVS Health Corporation in a report on Thursday, August 24th. They set a “hold” rating and a $83.00 target price for the company. Jefferies Group LLC set a $86.00 target price on CVS Health Corporation and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, Wolfe Research downgraded CVS Health Corporation from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $89.00 to $82.00 in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $85.78.
CVS Health Corporation (NYSE CVS) traded up $1.36 on Friday, reaching $70.38. The company’s stock had a trading volume of 4,746,408 shares, compared to its average volume of 9,320,000. CVS Health Corporation has a 52 week low of $66.45 and a 52 week high of $84.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.56. The stock has a market capitalization of $71,510.00, a price-to-earnings ratio of 12.08, a PEG ratio of 1.18 and a beta of 0.86.
The business also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Tuesday, October 24th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is currently 41.32%.
In other CVS Health Corporation news, insider Larry J. Merlo sold 241,150 shares of CVS Health Corporation stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the sale, the insider now directly owns 299,255 shares in the company, valued at approximately $24,859,112.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David M. Denton sold 237,078 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the transaction, the chief financial officer now owns 141,096 shares in the company, valued at $11,238,296.40. The disclosure for this sale can be found here. In the last three months, insiders sold 716,625 shares of company stock valued at $58,318,431. 0.61% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Fieldpoint Private Securities LLC increased its position in CVS Health Corporation by 333.3% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares during the period. Arcadia Investment Management Corp MI increased its position in shares of CVS Health Corporation by 119.6% during the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after buying an additional 726 shares during the period. MPS Loria Financial Planners LLC acquired a new stake in shares of CVS Health Corporation during the second quarter worth $119,000. Gemmer Asset Management LLC increased its position in shares of CVS Health Corporation by 15.3% during 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. Finally, TB Alternative Assets Ltd. acquired a new stake in shares of CVS Health Corporation during the second quarter worth $121,000. 81.46% of the stock is owned by institutional investors.
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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