CVS Health Corp (NYSE:CVS) – Equities researchers at SunTrust Banks dropped their Q1 2020 EPS estimates for CVS Health in a research note issued on Wednesday, June 5th, Zacks Investment Research reports. SunTrust Banks analyst D. Macdonald now forecasts that the pharmacy operator will earn $1.60 per share for the quarter, down from their previous estimate of $1.62. SunTrust Banks also issued estimates for CVS Health’s Q2 2020 earnings at $1.75 EPS, Q3 2020 earnings at $1.79 EPS and FY2020 earnings at $7.05 EPS.
Other research analysts have also issued research reports about the company. BMO Capital Markets began coverage on CVS Health in a report on Wednesday, April 10th. They set an “outperform” rating and a $58.00 price objective on the stock. Guggenheim began coverage on CVS Health in a report on Thursday, April 18th. They set a “buy” rating and a $75.00 price objective on the stock. ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Raymond James lowered their target price on CVS Health from $90.00 to $75.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 18th. Finally, Standpoint Research raised CVS Health from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. CVS Health currently has an average rating of “Buy” and a consensus target price of $76.48.
Shares of NYSE CVS traded down $0.51 during mid-day trading on Monday, reaching $53.14. 9,133,626 shares of the company traded hands, compared to its average volume of 12,116,664. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.45. The stock has a market cap of $69.70 billion, a PE ratio of 7.51, a PEG ratio of 1.08 and a beta of 0.88. The company’s fifty day moving average is $53.79. CVS Health has a fifty-two week low of $51.72 and a fifty-two week high of $82.15.
CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.12. The company had revenue of $61.65 billion for the quarter, compared to analyst estimates of $60.39 billion. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. The business’s revenue was up 34.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 EPS.
A number of hedge funds have recently added to or reduced their stakes in CVS. Oregon Public Employees Retirement Fund increased its holdings in CVS Health by 6,858.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock valued at $383,000 after purchasing an additional 24,728,818 shares in the last quarter. BlackRock Inc. increased its stake in shares of CVS Health by 22.0% in the 4th quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock valued at $6,090,409,000 after buying an additional 16,757,941 shares during the period. Norges Bank acquired a new stake in shares of CVS Health in the 4th quarter valued at $840,254,000. FMR LLC increased its stake in shares of CVS Health by 30.6% in the 4th quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock valued at $2,572,528,000 after buying an additional 9,194,005 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of CVS Health by 36.2% in the 4th quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock valued at $1,076,697,000 after buying an additional 4,376,604 shares during the period. 77.29% of the stock is owned by hedge funds and other institutional investors.
CVS Health Company Profile
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.