CVS Health Corporation (NYSE:CVS) was upgraded by investment analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $79.00 price objective on the pharmacy operator’s stock, up from their previous price objective of $69.02. Needham & Company LLC’s price target points to a potential upside of 11.28% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Citigroup Inc. reduced their target price on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, August 17th. Royal Bank Of Canada assumed coverage on CVS Health Corporation in a report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price on the stock. BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Wolfe Research cut CVS Health Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $89.00 to $82.00 in a research note on Monday, August 14th. Finally, Jefferies Group LLC increased their price target on CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a research note on Friday, September 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $85.82.
Shares of CVS Health Corporation (NYSE:CVS) opened at $70.99 on Friday. The stock has a market capitalization of $71,912.30, a P/E ratio of 12.43, a P/E/G ratio of 1.22 and a beta of 0.86. CVS Health Corporation has a 12-month low of $66.45 and a 12-month high of $84.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.56 and a current ratio of 1.05.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. The business had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 earnings per share. analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.
In related news, EVP Thomas M. Moriarty sold 20,547 shares of CVS Health Corporation stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $81.17, for a total value of $1,667,799.99. Following the sale, the executive vice president now owns 43,178 shares of the company’s stock, valued at approximately $3,504,758.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health Corporation stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the sale, the executive vice president now directly owns 70,102 shares in the company, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. Insiders sold a total of 716,625 shares of company stock worth $58,318,431 in the last ninety days. 0.61% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of CVS. Maple Capital Management Inc. raised its holdings in CVS Health Corporation by 2.3% during the 1st quarter. Maple Capital Management Inc. now owns 87,650 shares of the pharmacy operator’s stock valued at $6,881,000 after acquiring an additional 2,000 shares during the period. Elkfork Partners LLC grew its position in shares of CVS Health Corporation by 40.9% during the 1st quarter. Elkfork Partners LLC now owns 104,440 shares of the pharmacy operator’s stock valued at $8,199,000 after purchasing an additional 30,296 shares in the last quarter. Horan Capital Advisors LLC. grew its position in shares of CVS Health Corporation by 6.5% during the 1st quarter. Horan Capital Advisors LLC. now owns 31,115 shares of the pharmacy operator’s stock valued at $2,443,000 after purchasing an additional 1,905 shares in the last quarter. Baltimore Capital Management Inc. purchased a new position in shares of CVS Health Corporation during the 1st quarter valued at $1,113,000. Finally, Cue Financial Group Inc. grew its position in shares of CVS Health Corporation by 3.6% during the 1st quarter. Cue Financial Group Inc. now owns 2,708 shares of the pharmacy operator’s stock valued at $213,000 after purchasing an additional 95 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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