CVS Health (NYSE:CVS) Posts Earnings Results, Beats Expectations By $0.08 EPS

CVS Health (NYSE:CVSGet Rating) posted its quarterly earnings data on Wednesday. The pharmacy operator reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.08, MarketWatch Earnings reports. The firm had revenue of $76.83 billion during the quarter, compared to analysts’ expectations of $75.30 billion. CVS Health had a net margin of 2.67% and a return on equity of 15.31%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company posted $2.04 EPS. CVS Health updated its FY22 guidance to $8.20-8.40 EPS.

CVS opened at $100.69 on Friday. CVS Health has a one year low of $79.33 and a one year high of $111.25. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 0.88. The stock has a market capitalization of $132.23 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 1.60 and a beta of 0.78. The business’s 50-day simple moving average is $103.57 and its 200-day simple moving average is $100.62.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Friday, April 22nd were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, April 21st. CVS Health’s payout ratio is 36.54%.

In other news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, February 10th. The stock was acquired at an average cost of $105.90 per share, with a total value of $105,900.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Prem S. Shah sold 5,346 shares of CVS Health stock in a transaction on Wednesday, March 30th. The shares were sold at an average price of $104.70, for a total transaction of $559,726.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,283 shares of company stock valued at $8,376,142. Insiders own 0.69% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVS. First Community Trust NA acquired a new position in CVS Health in the 4th quarter valued at about $46,000. Zullo Investment Group Inc. purchased a new stake in shares of CVS Health during the fourth quarter worth approximately $133,000. EverSource Wealth Advisors LLC acquired a new stake in shares of CVS Health during the fourth quarter worth $187,000. SBK Financial Inc. purchased a new position in CVS Health in the 4th quarter valued at $206,000. Finally, Titleist Asset Management LTD. purchased a new position in CVS Health in the 4th quarter valued at $240,000. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on CVS. Tigress Financial raised their price target on CVS Health from $122.00 to $125.00 in a research report on Thursday, April 7th. Sanford C. Bernstein lifted their target price on CVS Health from $111.00 to $116.00 in a research report on Tuesday, January 11th. Robert W. Baird increased their price target on shares of CVS Health from $107.00 to $110.00 in a research report on Wednesday, January 12th. StockNews.com initiated coverage on shares of CVS Health in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Raymond James downgraded shares of CVS Health from a “strong-buy” rating to an “outperform” rating and upped their target price for the stock from $115.00 to $120.00 in a research note on Friday, February 11th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Buy” and a consensus price target of $114.90.

CVS Health Company Profile (Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

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Earnings History for CVS Health (NYSE:CVS)

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