Analysts Offer Predictions for CVS Health Corp’s Q3 2020 Earnings (NYSE:CVS)

CVS Health Corp (NYSE:CVS) – Equities researchers at Piper Sandler issued their Q3 2020 EPS estimates for shares of CVS Health in a research note issued to investors on Wednesday, September 16th. Piper Sandler analyst S. James forecasts that the pharmacy operator will earn $1.30 per share for the quarter. Piper Sandler currently has a “Overweight” rating and a $72.00 target price on the stock. Piper Sandler also issued estimates for CVS Health’s Q4 2020 earnings at $1.39 EPS, FY2020 earnings at $7.24 EPS, Q1 2021 earnings at $1.84 EPS, Q2 2021 earnings at $1.86 EPS, Q3 2021 earnings at $1.87 EPS, Q4 2021 earnings at $1.97 EPS, FY2021 earnings at $7.53 EPS, Q1 2022 earnings at $2.02 EPS, Q2 2022 earnings at $2.04 EPS and FY2022 earnings at $8.30 EPS.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.64 EPS for the quarter, beating the consensus estimate of $1.93 by $0.71. The company had revenue of $65.30 billion during the quarter, compared to analysts’ expectations of $64.29 billion. CVS Health had a net margin of 3.13% and a return on equity of 16.32%. CVS Health’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 earnings per share.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada restated a “buy” rating on shares of CVS Health in a report on Thursday, July 9th. Credit Suisse Group lifted their target price on shares of CVS Health from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. SVB Leerink lifted their target price on shares of CVS Health from $72.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. Finally, Deutsche Bank decreased their target price on shares of CVS Health from $109.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. CVS Health presently has an average rating of “Buy” and a consensus price target of $81.94.

Shares of CVS opened at $58.87 on Monday. The firm has a market cap of $77.04 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.48 and a beta of 0.67. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.72 and a current ratio of 0.98. CVS Health has a fifty-two week low of $52.04 and a fifty-two week high of $77.03. The firm has a 50 day moving average price of $62.32 and a 200-day moving average price of $62.35.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rodgers Brothers Inc. grew its stake in shares of CVS Health by 0.7% in the 2nd quarter. Rodgers Brothers Inc. now owns 23,521 shares of the pharmacy operator’s stock valued at $1,528,000 after purchasing an additional 154 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in shares of CVS Health by 4.7% in the 2nd quarter. Insight Wealth Strategies LLC now owns 3,666 shares of the pharmacy operator’s stock valued at $238,000 after buying an additional 165 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of CVS Health by 1.6% in the 1st quarter. CWA Asset Management Group LLC now owns 11,055 shares of the pharmacy operator’s stock valued at $656,000 after buying an additional 175 shares during the period. Roosevelt Investment Group Inc. raised its holdings in CVS Health by 1.0% during the second quarter. Roosevelt Investment Group Inc. now owns 18,346 shares of the pharmacy operator’s stock worth $1,192,000 after purchasing an additional 175 shares during the last quarter. Finally, Estabrook Capital Management raised its holdings in CVS Health by 5.0% during the second quarter. Estabrook Capital Management now owns 3,650 shares of the pharmacy operator’s stock worth $237,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.

About CVS Health

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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