The healthcare titan CVS Health (CVS:NYE) is scheduled to reveal its fourth-quarter profits for 2022 on February 8, prior to the opening of the market.
Analysts are hopeful about the company’s future performance despite predicting a decline in both revenues and profitability.
Due to growing costs, it is anticipated that EPS would reduce by 3% year-over-year to $1.92 and that sales will decrease by 6% to $76.3 billion. Nonetheless, the company’s expanding medical membership and attempts to enhance its retail services are anticipated to mitigate these obstacles.
The adjusted EPS for the full year of 2022 is anticipated to fall between $8.55 and $8.65. In spite of this, analysts are positive on the CVS stock, with Ivan Feinseth of Tigress Financial recently reiterating his “Buy” rating and predicting CVS stock price increase of over 50%.
Analysts at Jefferies said they have raised their ratings on the company to “Buy” from “Hold” and are now looking for annualized earnings per share of $8.00-$8.50.
Feinseth highlights the imminent acquisition of Signify Health by CVS Health and the performance of its MinuteClinics and HealthHUBs as important growth drivers that will attract more clients and increase the company’s revenue. Despite a 20% fall in CVS stock price over the previous year, CVS Health’s future appears promising.
CVS Health Corporation provides health services in the United States. The company’s Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.
Its Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
The company’s Retail/LTC segment sells prescription and over-the-counter drugs, consumer health and beauty products, and personal care products; and provides health care services through its MinuteClinic walk-in medical clinics.
The company was formerly known as CVS Caremark Corporation and changed its name to CVS Health Corporation in September 2014. CVS Health Corporation was founded in 1963 and is headquartered in Woonsocket, Rhode Island.