CVS Health Corp (CVS) Releases Earnings Results, Beats Expectations By $0.02 EPS

CVS Health Corp (CVS) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $1.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $1.16. The company posted revenue of $43215.00 million in the period, compared to analysts expectations of $43000.77 million. The company’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS.

Many Wall Street Analysts have commented on CVS Health Corp. Company shares were Reiterated by Barclays on Mar 10, 2016 to “Overweight”, Firm has raised the Price Target to $ 115 from a previous price target of $110 .Shares were Reiterated by Mizuho on Feb 10, 2016 to “Buy” and Lowered the Price Target to $ 104 from a previous price target of $113 .

CVS Health Corp opened for trading at $100.5 and hit $101.93 on the upside on Monday, eventually ending the session at $101.45, with a gain of 0.95% or 0.95 points. The heightened volatility saw the trading volume jump to 54,86,259 shares. Company has a market cap of $111,442 M.

In a different news, on Apr 5, 2016, Andrew Sussman (EVP & Pres, CVS MinuteClinic) sold 2,844 shares at $105.00 per share price. According to the SEC, on Apr 5, 2016, Stephen J Gold (EVP & CIO) sold 21,922 shares at $105.00 per share price. On Mar 11, 2016, Larry J Merlo (President and CEO) sold 38,247 shares at $100.00 per share price, according to the Form-4 filing with the securities and exchange commission.

CVS Health Corporation together with its subsidiaries is a pharmacy company. The Company operates through three business segments: Pharmacy Services Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services Novologix and Navarro Health Services names. The Retail Pharmacy segment sells prescription drugs and an assortment of general merchandise including over-the-counter drugs beauty products and cosmetics personal care products convenience foods photo finishing seasonal merchandise and greeting cards through the Company’s retail stores online retail pharmacy Websites and retail healthcare clinics. The Corporate segment provides management and administrative services to support the overall operations of the Company. The Company through its wholly owned subsidiary Omnicare Inc. provides pharmacy services to long term care facilities.

CVS Health Corp

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