Wall Street analysts forecast that CVS Health Corp (NYSE:CVS) will post sales of $62.63 billion for the current quarter, Zacks reports. Twenty Three analysts have made estimates for CVS Health’s earnings, with the lowest sales estimate coming in at $61.19 billion and the highest estimate coming in at $63.33 billion. CVS Health reported sales of $46.71 billion in the same quarter last year, which would suggest a positive year over year growth rate of 34.1%. The firm is expected to issue its next earnings report on Wednesday, August 14th.

On average, analysts expect that CVS Health will report full-year sales of $252.56 billion for the current year, with estimates ranging from $250.40 billion to $254.27 billion. For the next financial year, analysts forecast that the firm will report sales of $257.91 billion, with estimates ranging from $244.74 billion to $271.35 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow CVS Health.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.12. The firm had revenue of $61.65 billion for the quarter, compared to the consensus estimate of $60.39 billion. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. The company’s revenue was up 34.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 EPS.

Several equities research analysts recently weighed in on CVS shares. Wells Fargo & Co downgraded CVS Health from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $104.00 to $68.00 in a report on Wednesday, February 20th. UBS Group cut their price objective on CVS Health from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, February 21st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $91.00 price objective on shares of CVS Health in a report on Thursday, February 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price objective on shares of CVS Health in a report on Thursday, February 21st. Finally, Loop Capital cut their price objective on CVS Health to $68.00 and set a “hold” rating on the stock in a report on Thursday, February 21st. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $76.48.

A number of large investors have recently made changes to their positions in the stock. Horizon Investments LLC bought a new position in CVS Health during the 1st quarter worth $2,699,000. Merit Financial Group LLC raised its position in CVS Health by 17.1% during the 1st quarter. Merit Financial Group LLC now owns 5,224 shares of the pharmacy operator’s stock worth $281,000 after purchasing an additional 763 shares during the last quarter. Redwood Investment Management LLC bought a new position in CVS Health during the 1st quarter worth $256,000. B. Riley Wealth Management Inc. raised its position in shares of CVS Health by 57.1% in the 1st quarter. B. Riley Wealth Management Inc. now owns 6,135 shares of the pharmacy operator’s stock worth $330,000 after acquiring an additional 2,230 shares in the last quarter. Finally, M Holdings Securities Inc. raised its position in shares of CVS Health by 301.4% in the 1st quarter. M Holdings Securities Inc. now owns 31,916 shares of the pharmacy operator’s stock worth $1,721,000 after acquiring an additional 23,965 shares in the last quarter. 77.48% of the stock is owned by institutional investors and hedge funds.

Shares of CVS stock traded down $0.42 during trading hours on Friday, reaching $54.17. The company’s stock had a trading volume of 4,680,494 shares, compared to its average volume of 8,367,100. The company has a market cap of $70.37 billion, a PE ratio of 7.65, a P/E/G ratio of 1.09 and a beta of 0.89. CVS Health has a fifty-two week low of $51.72 and a fifty-two week high of $82.15. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.64 and a current ratio of 0.95.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Earnings History and Estimates for CVS Health (NYSE:CVS)

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