CVS Health (NYSE:CVS) Posts Quarterly Earnings Results

CVS Health (NYSE:CVS) issued its quarterly earnings data on Wednesday. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01, Briefing.com reports. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis.

CVS Health Trading Down 2.6 %

NYSE CVS opened at $55.56 on Friday. The firm’s 50 day moving average price is $59.56 and its two-hundred day moving average price is $59.19. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.66 and a current ratio of 0.80. CVS Health has a twelve month low of $52.77 and a twelve month high of $83.25. The stock has a market cap of $69.89 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.94 and a beta of 0.55.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.79%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of analyst reports. Barclays reduced their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday. Evercore ISI raised their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Truist Financial raised their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

About CVS Health

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.