CVS Health Co. Expected to Earn Q1 2023 Earnings of $1.92 Per Share (NYSE:CVS)

CVS Health Co. (NYSE:CVS – Get Rating) – Equities researchers at Jefferies Financial Group issued their Q1 2023 earnings per share estimates for shares of CVS Health in a note issued to investors on Thursday, February 9th. Jefferies Financial Group analyst B. Tanquilut expects that the pharmacy operator will post earnings per share of $1.92 for the quarter. Jefferies Financial Group has a “Buy” rating and a $143.00 price target on the stock. The consensus estimate for CVS Health’s current full-year earnings is $8.83 per share. Jefferies Financial Group also issued estimates for CVS Health’s Q2 2023 earnings at $2.49 EPS, Q3 2023 earnings at $2.22 EPS and Q4 2023 earnings at $2.20 EPS.

A number of other research analysts also recently issued reports on the company. Raymond James reduced their price target on CVS Health from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays decreased their target price on CVS Health from $118.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday. Wells Fargo & Company cut their price target on shares of CVS Health from $106.00 to $101.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 3rd. Credit Suisse Group raised their target price on shares of CVS Health from $117.00 to $125.00 and gave the stock an “outperforming” rating in a research report on Monday, November 21st. Finally, StockNews.com downgraded shares of CVS Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.65.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $89.66 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.71. The company has a market cap of $115.13 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 1.39 and a beta of 0.67. CVS Health has a 12 month low of $84.60 and a 12 month high of $109.69. The company has a 50-day moving average price of $92.15 and a 200-day moving average price of $96.27.

CVS Health (NYSE:CVS – Get Rating) last issued its earnings results on Wednesday, February 8th. The pharmacy operator reported $1.99 EPS for the quarter, topping the consensus estimate of $1.92 by $0.07. The company had revenue of $83.85 billion for the quarter, compared to the consensus estimate of $76.37 billion. CVS Health had a net margin of 1.29% and a return on equity of 15.75%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 earnings per share.

CVS Health Increases Dividends

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Friday, January 20th were issued a dividend of $0.605 per share. The ex-dividend date of this dividend was Thursday, January 19th. This is an increase from CVS Health’s previous quarterly dividend of $0.55. This represents a $2.42 annualized dividend and a dividend yield of 2.70%. CVS Health’s dividend payout ratio (DPR) is presently 77.56%.

Insider Transactions at CVS Health

In other CVS Health news, EVP Thomas M. Moriarty sold 137,466 shares of the firm’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $98.36, for a total transaction of $13,521,155.76. Following the completion of the sale, the executive vice president now directly owns 608,129 shares in the company, valued at approximately $59,815,568.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by insiders.

Institutional Trading of CVS Health

Several institutional investors have recently added to or reduced their stakes in the business. NBT Bank NA NY boosted its position in shares of CVS Health by 1.1% during the fourth quarter. NBT Bank NA NY now owns 53,115 shares of the pharmacy operator’s stock valued at $4,950,000 after buying an additional 587 shares during the last quarter. Davis Selected Advisers grew its stake in shares of CVS Health by 0.3% in the fourth quarter. Davis Selected Advisers now owns 208,090 shares of the pharmacy operator’s stock worth $19,392,000 after acquiring an additional 722 shares during the period. First Western Trust Bank raised its holdings in shares of CVS Health by 15.7% during the fourth quarter. First Western Trust Bank now owns 3,567 shares of the pharmacy operator’s stock valued at $332,000 after purchasing an additional 483 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its position in CVS Health by 12.7% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 215,641 shares of the pharmacy operator’s stock valued at $20,096,000 after purchasing an additional 24,222 shares during the period. Finally, Simplify Asset Management Inc. boosted its holdings in CVS Health by 8.8% in the fourth quarter. Simplify Asset Management Inc. now owns 9,042 shares of the pharmacy operator’s stock worth $843,000 after purchasing an additional 728 shares during the last quarter. 77.29% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Company Profile

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CVS Health Corp. engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long-Term Care segment includes the sale of prescription drugs and an assortment of health and wellness products, and general merchandise.

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