CVS Health Corporation (NYSE:CVS) – Leerink Swann lowered their FY2016 EPS estimates for shares of CVS Health Corporation in a note issued to investors on Thursday. Leerink Swann analyst D. Larsen now forecasts that the firm will post earnings per share of $5.85 for the year, down from their previous forecast of $5.90. Leerink Swann has a “Outperform” rating and a $105.00 price target on the stock. Leerink Swann also issued estimates for CVS Health Corporation’s Q4 2016 earnings at $1.79 EPS and FY2017 earnings at $6.60 EPS.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.02. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The firm had revenue of $43.70 billion for the quarter, compared to the consensus estimate of $44.28 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis.
CVS has been the subject of several other reports. Morgan Stanley downgraded CVS Health Corporation from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $111.00 to $104.00 in a report on Monday, June 20th. Credit Suisse Group AG reiterated a “buy” rating and issued a $115.00 price objective on shares of CVS Health Corporation in a report on Sunday, June 5th. Jefferies Group reiterated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 4th. Deutsche Bank AG lifted their price objective on CVS Health Corporation from $99.00 to $105.00 and gave the stock a “hold” rating in a report on Wednesday, June 22nd. Finally, Mizuho reiterated a “buy” rating and issued a $108.00 price objective (down from $117.00) on shares of CVS Health Corporation in a report on Thursday, June 23rd. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $112.81.
Shares of CVS Health Corporation (NYSE:CVS) opened at 88.99 on Monday. The stock has a market capitalization of $94.88 billion, a P/E ratio of 20.47 and a beta of 0.84. CVS Health Corporation has a one year low of $86.50 and a one year high of $106.67. The stock has a 50 day moving average of $92.98 and a 200-day moving average of $97.44.
Several institutional investors have recently added to or reduced their stakes in CVS. Evercore Wealth Management LLC increased its position in CVS Health Corporation by 4.2% in the second quarter. Evercore Wealth Management LLC now owns 43,454 shares of the pharmacy operator’s stock valued at $4,160,000 after buying an additional 1,755 shares in the last quarter. Macquarie Group Ltd. increased its position in CVS Health Corporation by 9.7% in the second quarter. Macquarie Group Ltd. now owns 7,707,523 shares of the pharmacy operator’s stock valued at $737,919,000 after buying an additional 682,784 shares in the last quarter. Carnick & Kubik Group LLC bought a new position in CVS Health Corporation during the second quarter valued at $1,861,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in CVS Health Corporation during the second quarter valued at $4,152,000. Finally, Kentucky Retirement Systems bought a new position in CVS Health Corporation during the second quarter valued at $8,744,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Monday, October 24th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, October 20th. CVS Health Corporation’s dividend payout ratio is currently 39.08%.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names.
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