CVS Health (NYSE:CVS) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $7.900-$8.000 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.980. The company issued revenue guidance of -.
CVS traded down $0.99 on Thursday, reaching $92.65. 6,109,424 shares of the company traded hands, compared to its average volume of 6,219,442. The stock’s 50 day moving average price is $88.26 and its 200-day moving average price is $85.75. CVS Health has a 52-week low of $67.06 and a 52-week high of $96.57. The company has a market cap of $122.30 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.74 and a beta of 0.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.94 and a quick ratio of 0.67.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 3rd. The pharmacy operator reported $1.97 EPS for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.18. CVS Health had a net margin of 2.66% and a return on equity of 14.16%. The firm had revenue of $73.79 billion for the quarter, compared to the consensus estimate of $70.52 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts forecast that CVS Health will post 7.97 earnings per share for the current fiscal year.
CVS has been the subject of a number of analyst reports. Raymond James lifted their target price on shares of CVS Health from $95.00 to $115.00 and gave the company a strong-buy rating in a research note on Thursday, November 4th. Mizuho lifted their target price on shares of CVS Health from $98.00 to $105.00 and gave the company a buy rating in a research note on Wednesday, November 10th. Truist Securities lifted their target price on shares of CVS Health from $94.00 to $112.00 and gave the company a buy rating in a research note on Thursday, November 4th. Royal Bank of Canada lifted their target price on shares of CVS Health from $97.00 to $107.00 and gave the company an outperform rating in a research note on Thursday, November 4th. Finally, Citigroup lifted their target price on shares of CVS Health from $98.00 to $111.00 and gave the company a buy rating in a research note on Thursday, November 4th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $104.11.
In other CVS Health news, COO Jonathan C. Roberts sold 108,870 shares of the business’s stock in a transaction on Wednesday, November 3rd. The shares were sold at an average price of $95.00, for a total value of $10,342,650.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Troyen A. Brennan sold 2,625 shares of the company’s stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $87.00, for a total transaction of $228,375.00. Following the completion of the sale, the executive vice president now directly owns 140,201 shares in the company, valued at approximately $12,197,487. The disclosure for this sale can be found here. Insiders sold a total of 222,411 shares of company stock worth $20,387,951 in the last three months. Insiders own 0.69% of the company’s stock.
CVS Health Company Profile
CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.
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