CVS Health (NYSE:CVS) Updates FY 2022 Earnings Guidance

CVS Health (NYSE:CVSGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $8.40-$8.60 for the period, compared to the consensus earnings per share estimate of $8.55. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVS shares. UBS Group upped their price target on shares of CVS Health from $118.00 to $127.00 and gave the stock a buy rating in a report on Thursday, August 4th. Evercore ISI upped their target price on shares of CVS Health from $120.00 to $125.00 and gave the stock an outperform rating in a report on Wednesday, September 7th. Loop Capital began coverage on shares of CVS Health in a research note on Thursday, June 16th. They issued a buy rating and a $120.00 price objective for the company. Tigress Financial raised their price objective on shares of CVS Health from $125.00 to $130.00 in a report on Wednesday, August 17th. Finally, Mizuho lifted their target price on shares of CVS Health from $115.00 to $120.00 and gave the stock a buy rating in a research report on Monday, August 15th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CVS Health presently has an average rating of Moderate Buy and a consensus target price of $117.59.

CVS Health Stock Down 2.0 %

Shares of CVS traded down $1.96 during midday trading on Friday, hitting $97.87. The stock had a trading volume of 85,013 shares, compared to its average volume of 4,398,985. CVS Health has a twelve month low of $81.78 and a twelve month high of $111.25. The firm has a market cap of $128.49 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.91 and a quick ratio of 0.65. The company has a 50 day simple moving average of $100.14 and a two-hundred day simple moving average of $99.28.

CVS Health (NYSE:CVSGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.24. The company had revenue of $80.64 billion during the quarter, compared to analysts’ expectations of $76.38 billion. CVS Health had a return on equity of 15.19% and a net margin of 2.65%. CVS Health’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 EPS. On average, analysts anticipate that CVS Health will post 8.53 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 21st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, October 20th. CVS Health’s dividend payout ratio is presently 35.77%.

Insiders Place Their Bets

In other news, EVP Alan Lotvin sold 22,541 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $104.00, for a total value of $2,344,264.00. Following the completion of the sale, the executive vice president now directly owns 109,183 shares of the company’s stock, valued at $11,355,032. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Alan Lotvin sold 22,541 shares of CVS Health stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $104.00, for a total value of $2,344,264.00. Following the transaction, the executive vice president now owns 109,183 shares of the company’s stock, valued at approximately $11,355,032. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas M. Moriarty sold 138,654 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the sale, the executive vice president now directly owns 626,273 shares in the company, valued at approximately $59,495,935. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Hedge funds have recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P increased its stake in CVS Health by 92.9% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock valued at $38,245,000 after purchasing an additional 181,966 shares during the last quarter. United Bank raised its stake in shares of CVS Health by 7.2% during the 1st quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock worth $1,888,000 after buying an additional 1,260 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in CVS Health by 4,063.8% in the 1st quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock valued at $1,222,000 after purchasing an additional 11,785 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in CVS Health by 116.9% in the 1st quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock valued at $260,000 after buying an additional 1,386 shares during the period. Finally, Ergoteles LLC purchased a new stake in shares of CVS Health during the 1st quarter worth about $1,551,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

CVS Health Company Profile

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CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

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

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