Monday, 19 August, 2019

CVS Health posts second-quarter profit on Aetna strength

CVS Health Reports Q2 Earnings Beat Raises Guidance CVS Health Reports Q2 Earnings Beat, Raises Guidance
Anna Jefferson | 10 August, 2019, 21:55

The firm owned 77,384 shares of the pharmacy operator's stock after buying an additional 2,880 shares during the quarter.

Hourican told CNBC that the reduction in store growth is "a natural change" given the number of stores CVS operates and the growth in areas such as delivery.

CVS Health's stock price was up more than 4% during early morning trading. LPL Financial LLC boosted its position in CVS Health by 13.0% in the 2nd quarter. MBM Wealth Consultants LLC now owns 7,069 shares of the pharmacy operator's stock worth $388,000 after purchasing an additional 655 shares in the last quarter. First Trust Advisors LP now owns 1,289,978 shares of the pharmacy operator's stock worth $70,291,000 after purchasing an additional 628,383 shares in the last quarter. (CVS has approximately 9,900 locations.) At the same time, the company will continue to remodel stores to its new, health-focused store "HealthHub" format. Berman Capital Advisors LLC increased its stake in shares of CVS Health by 106.4% in the 2nd quarter. Shamrock Asset Management LLC now owns 4,769 shares of the pharmacy operator's stock valued at $260,000 after buying an additional 237 shares during the last quarter. Staley Capital Advisers Inc bought 136,265 shares as the company's stock declined 2.55%. Kiltearn Partners LLP now owns 1,800,709 shares of the pharmacy operator's stock worth $98,121,000 after buying an additional 30,300 shares in the last quarter.

Several research firms have recently commented on CVS. The health Company will look to carry this momentum through the rest of the year. Credit Suisse Group cut CVS Health from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $73.00 to $61.00 in a report on Monday, April 29th. Standpoint Research raised shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Wednesday, June 5th. Finally, ValuEngine lowered shares of CVS Health from a "sell" rating to a "strong sell" rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock.

CVS opened at $59.29 on Friday. The business's fifty day simple moving average is $55.66.

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The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.45.

The stock of Cvs Health Corporation (NYSE:CVS) registered an increase of 8.96% in short interest.

Adjusted earnings came in at $1.89 a share, up from $1.69 a share a year earlier, while the consensus on Capital IQ was for $1.69 a share, the company said on Wednesday.

CVS Health Corp on Wednesday reported a profit for the second quarter compared with a year-ago loss, benefiting from its Aetna health insurance acquisition and higher sales of prescription drugs. CVS Health had a net margin of 1.91% and a return on equity of 16.92%. This is a 35.74% increase over sales of $46.708 billion the same period past year. Net income increased 175% year over year to $1.9 billion after CVS posted a net income loss in the second quarter of 2018.

That translated to adjusted earnings per share of $1.89, which was 20 cents higher than the $1.69 reported a year prior and 17 cents above the high end of the company's guidance, according to a presentation released with the Q2 numbers.

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