Q4 2024 Earnings Forecast for CVS Health Co. Issued By Leerink Partnrs (NYSE:CVS)

CVS Health Co. (NYSE:CVS) – Investment analysts at Leerink Partnrs dropped their Q4 2024 earnings per share estimates for shares of CVS Health in a research report issued to clients and investors on Wednesday, May 1st. Leerink Partnrs analyst M. Cherny now anticipates that the pharmacy operator will post earnings per share of $1.94 for the quarter, down from their previous forecast of $2.15. Leerink Partnrs currently has a “Market Perform” rating on the stock. The consensus estimate for CVS Health’s current full-year earnings is $7.00 per share. Leerink Partnrs also issued estimates for CVS Health’s FY2027 earnings at $9.68 EPS.

CVS has been the topic of several other reports. Royal Bank of Canada reduced their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. The Goldman Sachs Group dropped their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America reduced their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday. Mizuho decreased their price target on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Piper Sandler upped their price objective on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $80.35.

CVS Health Stock Performance

NYSE CVS traded up $0.23 during trading on Friday, reaching $55.38. The company’s stock had a trading volume of 6,637,916 shares, compared to its average volume of 11,538,522. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $69.81 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.89 and a beta of 0.56. The firm has a 50 day moving average price of $73.19 and a 200 day moving average price of $73.37. CVS Health has a 12 month low of $53.70 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $2.20 earnings per share.

Institutional Trading of CVS Health

Several hedge funds and other institutional investors have recently bought and sold shares of CVS. Atticus Wealth Management LLC lifted its position in CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares in the last quarter. USA Financial Formulas raised its position in shares of CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 243 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health during the 4th quarter valued at about $32,000. Finally, Creekmur Asset Management LLC bought a new stake in shares of CVS Health during the 4th quarter worth approximately $34,000. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.80%. CVS Health’s dividend payout ratio is 46.75%.

About CVS Health

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.