CVS Health (NYSE:CVS) has been assigned a $85.00 target price by analysts at Leerink Swann in a research note issued to investors on Monday. The brokerage presently has a “buy” rating on the pharmacy operator’s stock. Leerink Swann’s target price would suggest a potential upside of 18.57% from the company’s current price.
Other equities analysts also recently issued reports about the company. Deutsche Bank assumed coverage on CVS Health in a research report on Monday. They issued a “buy” rating and a $90.00 price objective on the stock. Needham & Company LLC boosted their price objective on CVS Health from $79.00 to $85.00 and gave the company a “buy” rating in a research report on Monday. Citigroup lowered their price objective on CVS Health from $88.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. Royal Bank Of Canada assumed coverage on CVS Health in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price objective on the stock. Finally, Jefferies Group boosted their price objective on CVS Health from $82.00 to $86.00 and gave the company a “hold” rating in a research report on Friday, September 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. CVS Health has an average rating of “Buy” and an average target price of $86.35.
Shares of CVS Health (NYSE CVS) traded down $3.43 on Monday, hitting $71.69. The company had a trading volume of 40,462,409 shares, compared to its average volume of 6,844,018. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. CVS Health has a one year low of $66.45 and a one year high of $84.72. The company has a market capitalization of $72,620.00, a price-to-earnings ratio of 13.16, a P/E/G ratio of 1.29 and a beta of 0.89.
In other CVS Health news, EVP Thomas M. Moriarty sold 90,267 shares of the company’s stock in a transaction 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 owns 70,102 shares in the company, valued at $5,580,820.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David M. Denton sold 237,078 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.65, for a total value of $18,883,262.70. Following the sale, the chief financial officer now owns 141,096 shares of the company’s stock, valued at approximately $11,238,296.40. The disclosure for this sale can be found here. In the last three months, insiders sold 714,125 shares of company stock worth $58,119,381. 0.61% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of CVS. Fieldpoint Private Securities LLC increased its position in shares of CVS Health by 333.3% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC grew its position in CVS Health by 330.3% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock worth $105,000 after purchasing an additional 991 shares during the period. Arcadia Investment Management Corp MI grew its position in CVS Health by 119.6% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after purchasing an additional 726 shares during the period. MPS Loria Financial Planners LLC acquired a new stake in CVS Health during the 2nd quarter worth about $119,000. Finally, Gemmer Asset Management LLC grew its position in CVS Health by 15.3% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 82.24% of the company’s stock.
CVS Health 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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