CVS Health Corporation (NYSE:CVS) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.83-5.93 for the period, compared to the Thomson Reuters consensus estimate of $5.87. CVS Health Corporation also updated its Q3 guidance to $1.47-1.50 EPS.
A number of brokerages have recently issued reports on CVS. BidaskClub upgraded shares of CVS Health Corporation from a sell rating to a hold rating in a research note on Wednesday, August 2nd. Jefferies Group LLC restated a hold rating and issued a $82.00 price objective on shares of CVS Health Corporation in a research note on Friday, June 9th. ValuEngine cut shares of CVS Health Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Vetr upgraded shares of CVS Health Corporation from a buy rating to a strong-buy rating and set a $88.97 price objective for the company in a research note on Tuesday, June 6th. Finally, Cowen and Company restated an outperform rating and issued a $86.00 price objective on shares of CVS Health Corporation in a research note on Tuesday, June 13th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $92.20.
Shares of CVS Health Corporation (NYSE:CVS) opened at 79.12 on Tuesday. The firm has a 50-day moving average of $78.75 and a 200 day moving average of $79.09. The firm has a market cap of $80.61 billion, a PE ratio of 16.50 and a beta of 0.91. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $98.44. CVS Health Corporation also was the recipient of unusually large options trading on Monday. Stock investors bought 12,222 put options on the stock. This is an increase of approximately 254% compared to the typical volume of 3,454 put options.
CVS Health Corporation (NYSE:CVS) last issued its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The firm 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 17.56% and a net margin of 2.86%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.32 earnings per share. On average, equities analysts predict that CVS Health Corporation will post $5.87 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s payout ratio is 41.67%.
In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the completion of the transaction, the chief financial officer now owns 176,983 shares of the company’s stock, valued at $14,158,640. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Helena Foulkes sold 20,332 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $76.98, for a total value of $1,565,157.36. Following the transaction, the executive vice president now directly owns 59,300 shares of the company’s stock, valued at approximately $4,564,914. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,175 shares of company stock valued at $21,632,597. Insiders own 0.61% of the company’s stock.
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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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