Leerink Partnrs Reduces Earnings Estimates for CVS Health

CVS Health Co. (NYSE:CVS) – Investment analysts at Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for shares of CVS Health in a note issued to investors on Wednesday, December 18th. Leerink Partnrs analyst M. Cherny now expects that the pharmacy operator will post earnings of $5.21 per share for the year, down from their previous forecast of $5.47. The consensus estimate for CVS Health’s current full-year earnings is $5.32 per share. Leerink Partnrs also issued estimates for CVS Health’s Q1 2025 earnings at $1.30 EPS, Q3 2025 earnings at $1.75 EPS, Q4 2025 earnings at $1.38 EPS, FY2025 earnings at $6.09 EPS, FY2026 earnings at $7.36 EPS and FY2027 earnings at $8.16 EPS.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter last year, the company earned $2.21 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year.

A number of other brokerages also recently issued reports on CVS. Evercore ISI lifted their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada lowered their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. UBS Group boosted their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Barclays decreased their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

CVS Health Stock Performance

Shares of CVS stock opened at $43.78 on Friday. The company has a market cap of $55.09 billion, a P/E ratio of 11.11, a PEG ratio of 0.89 and a beta of 0.54. The firm has a fifty day moving average price of $56.69 and a 200 day moving average price of $58.34. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health has a 12 month low of $43.60 and a 12 month high of $83.25.

Hedge Funds Weigh In On CVS Health

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of CVS Health by 4.8% in the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after buying an additional 66,244 shares in the last quarter. Old North State Trust LLC purchased a new position in CVS Health during the 3rd quarter valued at about $200,000. Tidal Investments LLC raised its position in CVS Health by 52.2% during the third quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock worth $7,043,000 after acquiring an additional 38,408 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of CVS Health in the third quarter valued at about $2,071,000. Finally, World Investment Advisors LLC grew its position in shares of CVS Health by 280.7% in the third quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator’s stock valued at $1,732,000 after purchasing an additional 20,308 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Company Profile

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.