FY2024 EPS Estimates for CVS Health Cut by Leerink Partnrs

CVS Health Co. (NYSE:CVS) – Leerink Partnrs cut their FY2024 earnings per share (EPS) estimates for CVS Health in a report issued on Wednesday, December 18th. Leerink Partnrs analyst M. Cherny now expects that the pharmacy operator will post earnings per share of $5.21 for the year, down from their prior estimate of $5.47. The consensus estimate for CVS Health’s current full-year earnings is $5.32 per share. Leerink Partnrs also issued estimates for CVS Health’s Q1 2025 earnings at $1.30 EPS, Q3 2025 earnings at $1.75 EPS, Q4 2025 earnings at $1.38 EPS, FY2025 earnings at $6.09 EPS, FY2026 earnings at $7.36 EPS and FY2027 earnings at $8.16 EPS.

CVS has been the subject of several other research reports. Mizuho cut their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Royal Bank of Canada dropped their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. UBS Group upped their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $66.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

CVS Health Stock Up 1.3 %

Shares of NYSE CVS opened at $44.36 on Friday. The company has a market capitalization of $55.82 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.89 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company has a 50 day simple moving average of $56.24 and a 200-day simple moving average of $58.23. CVS Health has a 1 year low of $43.60 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the company posted $2.21 EPS. The company’s revenue was up 6.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC boosted its position in shares of 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 valued at $764,023,000 after purchasing an additional 7,382,931 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of CVS Health by 34.8% in 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 acquiring an additional 3,071,613 shares during the period. State Street Corp grew its position in shares of CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP acquired a new position in shares of CVS Health in the 3rd quarter valued at $121,987,000. Finally, Pathway Financial Advisers LLC raised its position in CVS Health by 5,864.2% in 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 purchasing an additional 1,701,331 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Company Profile

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.