CVS Health (NYSE:CVS) Issues Earnings Results, Beats Expectations By $0.07 EPS

CVS Health (NYSE:CVS) announced its quarterly earnings data on Wednesday. The pharmacy operator reported $1.84 EPS for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.07, Briefing.com reports. The firm had revenue of $64.81 billion during the quarter, compared to the consensus estimate of $62.99 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The firm’s revenue was up 36.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 earnings per share. CVS Health updated its FY19 guidance to $6.97-7.05 EPS.

Shares of CVS traded up $0.69 during mid-day trading on Friday, reaching $72.47. 9,079,719 shares of the company’s stock were exchanged, compared to its average volume of 6,966,567. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39. The company has a 50-day simple moving average of $64.66 and a two-hundred day simple moving average of $58.54. CVS Health has a 52-week low of $51.72 and a 52-week high of $82.15. The company has a market cap of $87.55 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 24th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.76%. CVS Health’s dividend payout ratio (DPR) is 28.25%.

In other news, EVP Troyen A. Brennan sold 23,604 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the completion of the transaction, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at approximately $7,338,628. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Eva C. Boratto sold 8,130 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $65.00, for a total transaction of $528,450.00. Following the transaction, the chief financial officer now directly owns 55,273 shares of the company’s stock, valued at $3,592,745. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,437 shares of company stock valued at $3,248,811. Corporate insiders own 0.53% of the company’s stock.

A number of research firms have recently issued reports on CVS. Mizuho lifted their price target on shares of CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a research report on Friday. Citigroup lifted their price target on shares of CVS Health from $72.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. Bank of America lifted their price target on shares of CVS Health from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. UBS Group reiterated a “buy” rating and set a $78.00 price target on shares of CVS Health in a research report on Thursday. Finally, Raymond James lifted their price target on shares of CVS Health from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.59.

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.

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Earnings History for CVS Health (NYSE:CVS)

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