CVS Health Corporation (CVS) Forecasted to Earn Q3 2017 Earnings of $1.49 Per Share
CVS Health Corporation (NYSE:CVS) – Investment analysts at Leerink Swann lowered their Q3 2017 earnings per share (EPS) estimates for shares of CVS Health Corporation in a research report issued on Wednesday. Leerink Swann analyst D. Larsen now anticipates that the pharmacy operator will earn $1.49 per share for the quarter, down from their previous forecast of $1.63. Leerink Swann has a “Buy” rating and a $90.00 price target on the stock. Leerink Swann also issued estimates for CVS Health Corporation’s Q4 2017 earnings at $1.87 EPS.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.32 EPS. COPYRIGHT VIOLATION NOTICE: This report was first published by Watch List News and is the property of of Watch List News. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.watchlistnews.com/cvs-health-corporation-cvs-forecasted-to-earn-q3-2017-earnings-of-1-49-per-share/1471724.html.
CVS has been the topic of several other research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $88.00 price objective (up previously from $87.00) on shares of CVS Health Corporation in a research report on Wednesday, May 3rd. Vetr raised CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 price objective on the stock in a research report on Wednesday, May 17th. ValuEngine cut CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Tigress Financial initiated coverage on CVS Health Corporation in a report on Thursday, April 27th. They issued a “buy” rating for the company. Finally, Guggenheim reiterated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $91.27.
Shares of CVS Health Corporation (CVS) opened at 79.14 on Friday. The firm has a market capitalization of $80.45 billion, a P/E ratio of 15.76 and a beta of 0.91. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $98.44. The stock’s 50 day moving average price is $78.77 and its 200-day moving average price is $78.97.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio is presently 39.92%.
In other news, EVP Helena Foulkes sold 20,333 shares of the stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $80.00, for a total value of $1,626,640.00. Following the transaction, the executive vice president now directly owns 59,301 shares of the company’s stock, valued at $4,744,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David M. Denton sold 230,510 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.00, for a total value of $18,440,800.00. Following the completion of the transaction, the chief financial officer now directly owns 176,983 shares in the company, valued at $14,158,640. The disclosure for this sale can be found here. Insiders sold 271,175 shares of company stock worth $21,632,597 over the last three months. Corporate insiders own 0.61% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CVS. Mercer Capital Advisers Inc. bought a new stake in CVS Health Corporation during the first quarter valued at approximately $118,000. TB Alternative Assets Ltd. bought a new stake in CVS Health Corporation during the second quarter valued at approximately $121,000. Gemmer Asset Management LLC raised its stake in CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares during the period. Captrust Financial Advisors bought a new stake in CVS Health Corporation during the second quarter valued at approximately $155,000. Finally, Orrstown Financial Services Inc. raised its stake in CVS Health Corporation by 2,000.0% in the first quarter. Orrstown Financial Services Inc. now owns 2,100 shares of the pharmacy operator’s stock valued at $165,000 after buying an additional 2,000 shares during the period. 81.92% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Corporation 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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