The country’s second-largest provider of health care plans, CVS Health Corp. (NYSE: CVS), has seen its stock price rise by more than 54% in the past 12 months. The 12-month gain is about 5% above that of UnitedHealth and, for all of 2021, more than 9% larger than UnitedHealth’s price increase of around 45%. The stock posted its 52-week high last week, just $5 short of its all-time high posted in 2015.
Analysts remain bullish on the stock, with 21 of 28 brokerages giving the stock a Buy or Strong Buy rating. The rest rate the shares at Hold. At a price of around $109.20 a share, the stock’s upside potential based on a median price target of $115 is about 5.3%. At the high price target of $125, the implied upside is 14.4%.
The consensus revenue estimate for the fourth quarter of fiscal 2021 is $75.47 billion, up 2.3% sequentially and about 8.5% year over year. Adjusted EPS are forecast at $1.88, down 4.6% sequentially and up 44.6% year over year. For the full fiscal year, analysts are looking for EPS of $8.29, up 10.5%, and revenue of $260.93 billion, up about 8.3% year over year.
CVS stock trades at 13.2 times expected 2021 EPS, 13.2 times estimated 2022 earnings of $8.27 and 12.2 times estimated 2023 earnings of $8.93 per share. The stock’s 52-week range is $68.02 to $110.15. CVS Health pays an annual dividend of $2.20 (yield of 2.03%). Total shareholder return for the past 12 months was 54.76%.
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