Health Care

CVS Health Beats Projections in Second Quarter

CVS Health Beats Projections in Second Quarter”

However, CVS Health received help in other areas as well. CVS Health shares last traded at $59.03, with a volume of 605,934 shares traded.

BLB&B Advisors LLC grew its position in CVS Health Corp (NYSE:CVS) by 6.1% during the second quarter, HoldingsChannel reports. The fund owned 13,181 shares of the pharmacy operator's stock after acquiring an additional 4,357 shares during the quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator's stock valued at $2,572,528,000 after purchasing an additional 9,194,005 shares during the period. Berman Capital Advisors LLC increased its stake in shares of CVS Health by 106.4% in the 2nd quarter. Moody National Bank Trust Division now owns 112,607 shares of the pharmacy operator's stock valued at $6,136,000 after acquiring an additional 1,129 shares during the last quarter. Finally, Staley Capital Advisers Inc. boosted its position in CVS Health by 2.0% in the 2nd quarter. Ellis Investment Partners LLC now owns 1,858,328 shares of the pharmacy operator's stock valued at $1,858,000 after purchasing an additional 1,826,575 shares during the period.

A number of equities research analysts have issued reports on CVS shares. The health Company will look to carry this momentum through the rest of the year. Oppenheimer lowered shares of CVS Health from an "outperform" rating to a "market perform" rating in a research report on Monday, April 15th. Finally, Guggenheim started coverage on CVS Health in a report on Thursday, April 18th. Evercore ISI set a $63.00 price target on CVS Health and gave the stock a "buy" rating in a research note on Wednesday. ValuEngine downgraded CVS Health from a "sell" rating to a "strong sell" rating in a report on Tuesday, July 2nd.

The company has 18 "buy" ratings, 10 "hold" ratings, and no "sell" ratings from analysts, and a price target of $68.14, according to Bloomberg data. They set a "buy" rating and a $75.00 price objective for the company. The stock has a market cap of $72.37 billion, a PE ratio of 7.64, a P/E/G ratio of 1.25 and a beta of 0.90. The business's 50-day moving average price is $55.66. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.64.

FILE PHOTO: A logo of CVS Health is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. It also reported adjusted earnings per share of $1.89.

CVS reported $63.4 billion in revenue for the quarter, a 35% increase year over year. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%.

CVS Health Corp (CVS.N) raised its full-year profit forecast and reported higher-than-expected second-quarter results on Wednesday, as increased US prescription drug prices fueled rebates to its pharmacy benefits business.

The Woonsocket, Rhode Island based Company reported that its pharmacy benefits unit brought in revenue of United States dollars 34.84 Billion in the second quarter, a 4.2% increase from the same quarter of the prior year.

CVS Health (CVS) reported better-than-expected results for its second quarter, as revenue benefited from last year's acquisition of insurance company Aetna, prompting the pharmacy to raise its earnings outlook.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd.

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