CVS Health Corp (CVS) Expected to Post Quarterly Sales of $60.31 Billion

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Wall Street analysts expect CVS Health Corp (NYSE:CVS) to announce sales of $60.31 billion for the current quarter, Zacks reports. Sixteen analysts have issued estimates for CVS Health’s earnings, with the highest sales estimate coming in at $61.94 billion and the lowest estimate coming in at $58.15 billion. CVS Health reported sales of $45.69 billion during the same quarter last year, which would suggest a positive year over year growth rate of 32%. The company is expected to announce its next earnings results on Wednesday, May 1st.

According to Zacks, analysts expect that CVS Health will report full-year sales of $250.73 billion for the current financial year, with estimates ranging from $238.65 billion to $252.89 billion. For the next financial year, analysts expect that the business will report sales of $260.17 billion, with estimates ranging from $249.67 billion to $267.38 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover CVS Health.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.07. The company had revenue of $54.42 billion for the quarter, compared to analysts’ expectations of $53.78 billion. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. CVS Health’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $1.92 EPS.

A number of equities analysts recently weighed in on the company. Loop Capital set a $80.00 price objective on CVS Health and gave the company a “hold” rating in a report on Wednesday, November 28th. Cantor Fitzgerald assumed coverage on CVS Health in a report on Monday, November 26th. They set an “overweight” rating and a $96.00 price objective on the stock. Goldman Sachs Group reissued a “neutral” rating and set a $87.00 price objective on shares of CVS Health in a report on Thursday, November 29th. Evercore ISI assumed coverage on CVS Health in a report on Wednesday, November 28th. They set an “outperform” rating and a $89.00 price objective on the stock. Finally, Wells Fargo & Co raised their price objective on CVS Health from $98.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, November 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $84.18.

Shares of NYSE CVS traded down $0.69 during trading hours on Friday, reaching $55.88. 14,917,472 shares of the stock traded hands, compared to its average volume of 13,379,640. The stock has a market cap of $70.89 billion, a price-to-earnings ratio of 7.89, a P/E/G ratio of 1.06 and a beta of 0.95. The company has a current ratio of 1.03, a quick ratio of 0.65 and a debt-to-equity ratio of 1.22. CVS Health has a 52-week low of $51.93 and a 52-week high of $82.15.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be given a dividend of $0.50 per share. The ex-dividend date is Monday, April 22nd. This represents a $2.00 annualized dividend and a yield of 3.58%. CVS Health’s payout ratio is 28.25%.

In other news, insider Larry J. Merlo sold 166,368 shares of CVS Health stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $69.04, for a total value of $11,486,046.72. Following the sale, the insider now directly owns 496,577 shares in the company, valued at approximately $34,283,676.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director C David Brown II acquired 10,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was acquired at an average price of $53.18 per share, for a total transaction of $531,800.00. Following the completion of the transaction, the director now owns 16,222 shares in the company, valued at approximately $862,685.96. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 23,600 shares of company stock worth $1,270,896 and have sold 412,039 shares worth $27,326,012. 0.53% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Bell Rock Capital LLC grew its position in shares of CVS Health by 764.0% in the 4th quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 382 shares during the last quarter. Daiwa SB Investments Ltd. purchased a new position in shares of CVS Health in the 4th quarter valued at approximately $30,000. Acima Private Wealth LLC purchased a new position in shares of CVS Health in the 4th quarter valued at approximately $33,000. Cornerstone Advisors Inc. lifted its stake in shares of CVS Health by 71.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock valued at $40,000 after purchasing an additional 212 shares during the period. Finally, Murphy Pohlad Asset Management LLC purchased a new position in shares of CVS Health in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 84.55% of the company’s stock.

CVS Health Company Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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