$76.53 Billion in Sales Expected for CVS Health Co. (NYSE:CVS) This Quarter

Analysts forecast that CVS Health Co. (NYSE:CVSGet Rating) will post $76.53 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for CVS Health’s earnings. The lowest sales estimate is $76.17 billion and the highest is $76.82 billion. CVS Health reported sales of $72.62 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that CVS Health will report full year sales of $308.34 billion for the current financial year, with estimates ranging from $306.99 billion to $309.09 billion. For the next fiscal year, analysts forecast that the company will post sales of $322.26 billion, with estimates ranging from $316.89 billion to $324.64 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover CVS Health.

CVS Health (NYSE:CVSGet Rating) last posted its earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.08. CVS Health had a return on equity of 15.33% and a net margin of 2.67%. The company had revenue of $76.83 billion for the quarter, compared to analyst estimates of $75.30 billion. During the same quarter in the prior year, the company earned $2.04 earnings per share. CVS Health’s revenue was up 11.2% compared to the same quarter last year.

A number of equities research analysts have recently issued reports on the company. Tigress Financial increased their target price on CVS Health from $122.00 to $125.00 in a research note on Thursday, April 7th. BMO Capital Markets increased their target price on CVS Health from $108.00 to $120.00 in a report on Thursday, February 10th. Sanford C. Bernstein downgraded CVS Health from an “outperform” rating to a “market perform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on CVS Health from $110.00 to $113.00 in a report on Thursday, May 5th. Finally, Raymond James downgraded CVS Health from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $115.00 to $120.00 in a research note on Friday, February 11th. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CVS Health presently has an average rating of “Buy” and a consensus price target of $116.05.

In related news, EVP Prem S. Shah sold 5,346 shares of CVS Health stock in a transaction on Wednesday, March 30th. The stock was sold at an average price of $104.70, for a total value of $559,726.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Daniel P. Finke sold 55,359 shares of CVS Health stock in a transaction on Monday, April 4th. The shares were sold at an average price of $100.13, for a total value of $5,543,096.67. Following the transaction, the executive vice president now owns 3,098 shares in the company, valued at approximately $310,202.74. The disclosure for this sale can be found here. Insiders sold a total of 82,283 shares of company stock worth $8,376,142 over the last 90 days. Insiders own 0.69% of the company’s stock.

Large investors have recently bought and sold shares of the stock. West Bancorporation Inc. acquired a new position in CVS Health during the fourth quarter valued at $25,000. Macroview Investment Management LLC raised its position in CVS Health by 128.3% during the first quarter. Macroview Investment Management LLC now owns 242 shares of the pharmacy operator’s stock valued at $25,000 after buying an additional 136 shares during the period. Bell Investment Advisors Inc purchased a new position in CVS Health in the third quarter valued at about $26,000. Claremont Financial Group Inc. purchased a new position in CVS Health in the fourth quarter valued at about $26,000. Finally, Stuart Chaussee & Associates Inc. grew its stake in CVS Health by 123.0% in the first quarter. Stuart Chaussee & Associates Inc. now owns 310 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 171 shares in the last quarter. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

NYSE CVS opened at $97.80 on Friday. The business’s 50-day moving average price is $101.35 and its 200 day moving average price is $101.28. CVS Health has a twelve month low of $79.33 and a twelve month high of $111.25. The company has a market capitalization of $128.25 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.47 and a beta of 0.78. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.70.

The business also recently announced a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Friday, April 22nd were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, April 21st. CVS Health’s payout ratio is 36.54%.

About CVS Health (Get Rating)

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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