CVS Health (NYSE:CVS) Releases FY22 Earnings Guidance

CVS Health (NYSE:CVSGet Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $8.20-8.40 for the period, compared to the consensus estimate of $8.41. CVS Health also updated its FY 2022 guidance to $8.20-$8.40 EPS.

Shares of CVS stock traded up $0.23 during trading hours on Thursday, hitting $94.11. 20,383 shares of the company were exchanged, compared to its average volume of 4,794,445. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.62 and a current ratio of 0.88. CVS Health has a one year low of $79.33 and a one year high of $111.25. The business’s 50-day simple moving average is $99.47 and its two-hundred day simple moving average is $101.46. The stock has a market capitalization of $123.41 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 1.51 and a beta of 0.78.

CVS Health (NYSE:CVSGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $75.30 billion. During the same quarter in the previous year, the company posted $2.04 earnings per share. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, analysts anticipate that CVS Health will post 8.33 EPS for the current fiscal year.

A number of equities research analysts have issued reports on the stock. Raymond James lowered shares of 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. StockNews.com assumed coverage on shares of CVS Health in a report on Thursday, March 31st. They issued a strong-buy rating on the stock. Tigress Financial upped their target price on shares of CVS Health from $122.00 to $125.00 in a research note on Thursday, April 7th. Sanford C. Bernstein downgraded shares of CVS Health from an outperform rating to a market perform rating and lowered their target price for the company from $122.00 to $112.00 in a research note on Thursday, May 26th. Finally, BMO Capital Markets upped their target price on shares of CVS Health from $108.00 to $120.00 in a research note on Thursday, February 10th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CVS Health currently has a consensus rating of Buy and an average price target of $115.84.

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

Several hedge funds and other institutional investors have recently bought and sold shares of CVS. Paradigm Financial Partners LLC bought a new stake in CVS Health in the 4th quarter worth about $307,000. Quantamental Technologies LLC purchased a new stake in shares of CVS Health during the 1st quarter worth $302,000. First Western Trust Bank purchased a new stake in CVS Health in the first quarter valued at about $301,000. West Michigan Advisors LLC increased its holdings in shares of CVS Health by 18.4% in the first quarter. West Michigan Advisors LLC now owns 2,836 shares of the pharmacy operator’s stock valued at $287,000 after purchasing an additional 440 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of CVS Health by 71.9% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,565 shares of the pharmacy operator’s stock valued at $265,000 after purchasing an additional 1,073 shares during the period. Hedge funds and other institutional investors own 78.00% of the company’s stock.

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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