Zacks: Brokerages Anticipate CVS Health Corp (CVS) Will Announce Quarterly Sales of $50.38 Billion

Analysts forecast that CVS Health Corp (NYSE:CVS) will post sales of $50.38 billion for the current quarter, Zacks reports. Nineteen analysts have provided estimates for CVS Health’s earnings, with the highest sales estimate coming in at $57.11 billion and the lowest estimate coming in at $47.96 billion. CVS Health reported sales of $48.39 billion in the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The firm is expected to report its next quarterly earnings report on Thursday, February 14th.

According to Zacks, analysts expect that CVS Health will report full year sales of $189.54 billion for the current year, with estimates ranging from $187.63 billion to $193.81 billion. For the next financial year, analysts forecast that the firm will post sales of $197.03 billion, with estimates ranging from $194.54 billion to $203.42 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow CVS Health.

CVS Health (NYSE:CVS) last announced its earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $47.27 billion during the quarter, compared to the consensus estimate of $47.22 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 earnings per share.

A number of brokerages recently commented on CVS. Cantor Fitzgerald began coverage on CVS Health in a report on Sunday, December 2nd. They set an “overweight” rating and a $77.84 target price for the company. Goldman Sachs Group restated a “neutral” rating and set a $87.00 target price on shares of CVS Health in a report on Thursday, November 29th. Evercore ISI began coverage on CVS Health in a report on Wednesday, November 28th. They set an “outperform” rating and a $89.00 target price for the company. Loop Capital set a $80.00 target price on CVS Health and gave the company a “hold” rating in a report on Wednesday, November 28th. Finally, Wells Fargo & Co upped their target price on CVS Health from $98.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, November 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $90.69.

In other CVS Health news, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,722,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David M. Denton sold 25,159 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $80.13, for a total value of $2,015,990.67. Following the completion of the transaction, the chief financial officer now owns 403 shares of the company’s stock, valued at approximately $32,292.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,233 shares of company stock valued at $5,932,565. 0.53% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Adviser Investments LLC increased its holdings in shares of CVS Health by 43.3% during the second quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock valued at $193,000 after acquiring an additional 905 shares in the last quarter. Guild Investment Management Inc. bought a new position in shares of CVS Health during the third quarter valued at $3,764,000. Keystone Financial Planning Inc. increased its holdings in shares of CVS Health by 44.5% during the second quarter. Keystone Financial Planning Inc. now owns 59,038 shares of the pharmacy operator’s stock valued at $3,799,000 after acquiring an additional 18,176 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of CVS Health by 4.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 7,332,665 shares of the pharmacy operator’s stock valued at $471,857,000 after acquiring an additional 300,887 shares in the last quarter. Finally, Waddell & Reed Financial Inc. increased its holdings in shares of CVS Health by 21.5% during the second quarter. Waddell & Reed Financial Inc. now owns 993,394 shares of the pharmacy operator’s stock valued at $63,925,000 after acquiring an additional 175,725 shares in the last quarter. Hedge funds and other institutional investors own 84.50% of the company’s stock.

Shares of CVS Health stock opened at $76.57 on Friday. The company has a quick ratio of 1.94, a current ratio of 2.44 and a debt-to-equity ratio of 1.66. The company has a market cap of $80.39 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. CVS Health has a 52 week low of $60.14 and a 52 week high of $83.88.

About CVS Health

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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