CVS Health (NYSE:CVS) Releases FY 2020 Pre-Market Earnings Guidance

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CVS Health (NYSE:CVS) issued an update on its FY 2020
Pre-Market earnings guidance on Wednesday morning. The company provided EPS guidance of 7.04-7.17 for the period, compared to the Thomson Reuters consensus EPS estimate of $7.15. CVS Health also updated its FY20 guidance to $7.04-7.17 EPS.

NYSE:CVS traded down $0.63 on Friday, reaching $71.37. The stock had a trading volume of 589,172 shares, compared to its average volume of 7,091,313. The company has a quick ratio of 0.61, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $95.30 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 1.56 and a beta of 0.93. CVS Health has a 1-year low of $51.72 and a 1-year high of $77.03. The stock has a fifty day moving average price of $72.71 and a 200-day moving average price of $67.58.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The company had revenue of $66.89 billion during the quarter, compared to analysts’ expectations of $64.01 billion. CVS Health had a net margin of 1.83% and a return on equity of 15.45%. CVS Health’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 earnings per share. Sell-side analysts predict that CVS Health will post 7.03 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.80%. CVS Health’s dividend payout ratio is 28.25%.

Several brokerages have issued reports on CVS. Cfra lifted their price objective on CVS Health from $85.00 to $86.00 and gave the company a strong-buy rating in a research report on Wednesday. Citigroup increased their target price on CVS Health from $83.00 to $86.00 and gave the stock a buy rating in a report on Friday. UBS Group raised their target price on CVS Health from $78.00 to $85.00 and gave the company a buy rating in a research note on Thursday. ValuEngine raised CVS Health from a strong sell rating to a sell rating in a report on Friday, January 24th. Finally, Oppenheimer began coverage on shares of CVS Health in a research report on Wednesday. They set a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $78.48.

In related news, CEO Larry J. Merlo sold 266,476 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $74.79, for a total transaction of $19,929,740.04. Following the sale, the chief executive officer now owns 703,497 shares of the company’s stock, valued at approximately $52,614,540.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan C. Roberts sold 57,563 shares of CVS Health stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $72.63, for a total value of $4,180,800.69. Following the transaction, the chief operating officer now owns 102,608 shares in the company, valued at $7,452,419.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 404,182 shares of company stock valued at $30,121,266. Corporate insiders own 0.53% of the company’s stock.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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

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