FY2024 EPS Forecast for CVS Health Decreased by Analyst

CVS Health Co. (NYSE:CVS) – Research analysts at Cantor Fitzgerald dropped their FY2024 EPS estimates for CVS Health in a report issued on Tuesday, December 31st. Cantor Fitzgerald analyst S. James now forecasts that the pharmacy operator will post earnings of $5.19 per share for the year, down from their previous estimate of $5.29. Cantor Fitzgerald has a “Neutral” rating and a $62.00 price target on the stock. The consensus estimate for CVS Health’s current full-year earnings is $5.32 per share.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.21 EPS.

Other equities analysts have also recently issued research reports about the stock. Mizuho decreased their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. TD Cowen lifted their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Royal Bank of Canada dropped their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $69.12.

CVS Health Trading Down 1.5 %

CVS stock opened at $44.22 on Wednesday. CVS Health has a one year low of $43.56 and a one year high of $83.25. The company has a market capitalization of $55.65 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.85 and a beta of 0.54. The company’s 50 day moving average price is $53.05 and its two-hundred day moving average price is $57.21. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

Institutional Trading of CVS Health

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Pzena Investment Management LLC raised its position in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. State Street Corp boosted its holdings in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after purchasing an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP bought a new stake in CVS Health in the 3rd quarter worth approximately $121,987,000. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares during the period. 80.66% of the stock is currently owned by institutional investors.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.