CVS Health (CVS) Expected to Announce Quarterly Sales of $46.48 Billion

Brokerages predict that CVS Health (NYSE:CVS) will report sales of $46.48 billion for the current quarter, according to Zacks Investment Research. Eighteen analysts have made estimates for CVS Health’s earnings, with estimates ranging from $46.03 billion to $47.45 billion. CVS Health reported sales of $45.69 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 1.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 14th.

On average, analysts expect that CVS Health will report full year sales of $189.15 billion for the current year, with estimates ranging from $187.55 billion to $192.42 billion. For the next year, analysts forecast that the firm will post sales of $198.47 billion per share, with estimates ranging from $190.92 billion to $204.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow CVS Health.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 EPS for the quarter, beating the consensus estimate of $1.39 by $0.09. CVS Health had a return on equity of 17.45% and a net margin of 3.59%. The business had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.77 billion. During the same period in the prior year, the business posted $1.17 earnings per share. CVS Health’s revenue was up 2.6% compared to the same quarter last year.

CVS has been the subject of several research analyst reports. Cowen reissued an “outperform” rating and issued a $99.00 price objective (up from $81.00) on shares of CVS Health in a research note on Thursday, January 18th. Mizuho set a $95.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Needham & Company LLC raised CVS Health from a “buy” rating to a “strong-buy” rating and increased their price objective for the stock from $88.00 to $100.00 in a research note on Tuesday, January 30th. ValuEngine downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada set a $89.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. CVS Health has a consensus rating of “Buy” and a consensus target price of $86.27.

Shares of CVS Health opened at $65.76 on Friday, according to MarketBeat Ratings. CVS Health has a 12 month low of $65.60 and a 12 month high of $66.34. The firm has a market cap of $66.94 billion, a PE ratio of 11.15, a P/E/G ratio of 0.98 and a beta of 1.02. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.37 and a quick ratio of 1.88.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, April 20th. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.

In other news, Director C David Brown II purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was bought at an average cost of $61.99 per share, with a total value of $619,900.00. Following the purchase, the director now directly owns 101,252 shares of the company’s stock, valued at $6,276,611.48. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of CVS Health by 4.5% during the 1st quarter. BlackRock Inc. now owns 70,013,482 shares of the pharmacy operator’s stock valued at $4,355,536,000 after acquiring an additional 3,016,972 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of CVS Health by 16.7% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,102,755 shares of the pharmacy operator’s stock valued at $1,126,173,000 after acquiring an additional 2,588,382 shares during the last quarter. Geode Capital Management LLC grew its holdings in CVS Health by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 10,868,331 shares of the pharmacy operator’s stock valued at $786,322,000 after buying an additional 235,357 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in CVS Health by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock valued at $882,860,000 after buying an additional 430,377 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in CVS Health by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 10,705,490 shares of the pharmacy operator’s stock valued at $776,147,000 after buying an additional 126,183 shares during the last quarter. 83.96% of the stock is owned by institutional investors.

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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Earnings History and Estimates for CVS Health (NYSE:CVS)

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