CVS Health (NYSE:CVS) Updates FY20 Earnings Guidance

CVS Health (NYSE:CVS) updated its FY20 earnings guidance on Wednesday. The company provided earnings per share guidance of $7.04-7.17 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.15. CVS Health also updated its FY 2020
Pre-Market guidance to 7.04-7.17 EPS.

Several equities analysts have issued reports on the stock. UBS Group lifted their price target on shares of CVS Health from $78.00 to $85.00 and gave the stock a buy rating in a report on Thursday. Mizuho lifted their price target on shares of CVS Health from $71.00 to $82.00 and gave the stock a buy rating in a report on Friday, November 8th. Cantor Fitzgerald lifted their price target on shares of CVS Health from $85.00 to $90.00 and gave the stock an overweight rating in a report on Thursday. Robert W. Baird lifted their price target on shares of CVS Health from $70.00 to $73.00 and gave the stock a neutral rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on shares of CVS Health from $88.00 to $97.00 and gave the stock an overweight rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. CVS Health currently has a consensus rating of Buy and an average target price of $78.48.

Shares of CVS traded down $0.63 during trading hours on Friday, reaching $71.37. 7,652,732 shares of the company traded hands, compared to its average volume of 7,157,139. The stock has a market capitalization of $95.30 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.56 and a beta of 0.93. The company has a quick ratio of 0.61, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. CVS Health has a 12-month low of $51.72 and a 12-month high of $77.03. The business has a fifty day moving average price of $72.71 and a 200-day moving average price of $67.58.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The firm had revenue of $66.89 billion for the quarter, compared to analyst estimates of $64.01 billion. CVS Health had a net margin of 1.83% and a return on equity of 15.45%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.14 earnings per share. As a group, research analysts predict that CVS Health will post 7.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.80%. CVS Health’s dividend payout ratio is presently 28.25%.

In related news, EVP Karen S. Lynch sold 80,143 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $75.00, for a total transaction of $6,010,725.00. Following the completion of the transaction, the executive vice president now directly owns 41,831 shares in the company, valued at $3,137,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Larry J. Merlo sold 266,476 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $74.79, for a total transaction of $19,929,740.04. Following the transaction, the chief executive officer now owns 703,497 shares of the company’s stock, valued at $52,614,540.63. The disclosure for this sale can be found here. Insiders have sold 404,182 shares of company stock valued at $30,121,266 over the last 90 days. 0.53% of the stock is currently owned by insiders.

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.

Featured Story: What is a stock split?

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

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News