CVS Health (CVS) Announces Earnings Results
CVS Health (NYSE:CVS) issued its earnings results on Thursday. The pharmacy operator reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.04, Bloomberg Earnings reports. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The business had revenue of $48.39 billion during the quarter, compared to analyst estimates of $47.54 billion. During the same quarter in the previous year, the firm earned $1.71 EPS. CVS Health’s revenue was up 5.3% on a year-over-year basis.
Shares of CVS Health (CVS) traded down $2.03 during trading hours on Thursday, hitting $72.32. The company had a trading volume of 7,551,143 shares, compared to its average volume of 9,004,552. The company has a market cap of $73,250.00, a P/E ratio of 14.99, a PEG ratio of 1.24 and a beta of 0.92. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. CVS Health has a 52 week low of $66.45 and a 52 week high of $84.00.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.77%. CVS Health’s dividend payout ratio (DPR) is presently 41.32%.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pathstone Family Office LLC raised its holdings in shares of CVS Health by 341.0% during the 2nd quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock worth $2,353,000 after acquiring an additional 982 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of CVS Health by 330.3% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock worth $105,000 after acquiring an additional 991 shares in the last quarter. Fieldpoint Private Securities LLC raised its holdings in shares of CVS Health by 333.3% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after acquiring an additional 1,000 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of CVS Health by 119.6% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after acquiring an additional 726 shares in the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new stake in shares of CVS Health during the 2nd quarter worth approximately $119,000. 81.69% of the stock is currently owned by institutional investors.
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CVS Health 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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