CVS Health (NYSE:CVS) Announces Earnings Results

CVS Health (NYSE:CVS) posted its quarterly earnings data on Wednesday. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38), Briefing.com reports. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. CVS Health updated its FY24 guidance to at least $7.00 EPS.

CVS Health Trading Up 1.4 %

CVS opened at $55.90 on Friday. CVS Health has a twelve month low of $53.70 and a twelve month high of $83.25. The firm has a market cap of $70.17 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.86 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.81. The firm’s fifty day moving average is $73.19 and its two-hundred day moving average is $73.37.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analyst Ratings Changes

A number of brokerages have recently commented on CVS. Wells Fargo & Company cut their price target on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Mizuho reduced their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a report on Thursday. Piper Sandler boosted their price objective on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Cantor Fitzgerald lowered CVS Health from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $87.00 to $58.00 in a research note on Wednesday. Finally, Bank of America reduced their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.35.

Insider Activity at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is owned by corporate insiders.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.