CVS Health (CVS) Price Target Raised to $85.00 at Needham & Company LLC

CVS Health (NYSE:CVS) had its price target raised by Needham & Company LLC from $79.00 to $85.00 in a research note published on Monday. Needham & Company LLC currently has a buy rating on the pharmacy operator’s stock.

Several other equities research analysts also recently weighed in on CVS. Citigroup lowered their target price on shares of CVS Health from $88.00 to $87.00 and set a neutral rating for the company in a research note on Thursday, August 17th. Deutsche Bank assumed coverage on shares of CVS Health in a research note on Monday. They issued a buy rating and a $90.00 target price for the company. Wolfe Research downgraded shares of CVS Health from an outperform rating to a market perform rating and lowered their target price for the company from $89.00 to $82.00 in a research note on Monday, August 14th. Jefferies Group set a $86.00 target price on shares of CVS Health and gave the company a hold rating in a research note on Wednesday, October 18th. Finally, Royal Bank Of Canada assumed coverage on shares of CVS Health in a research note on Tuesday, September 19th. They issued an outperform rating and a $95.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. CVS Health presently has an average rating of Buy and a consensus price target of $86.35.

Shares of CVS Health (NYSE:CVS) traded down $3.43 during mid-day trading on Monday, reaching $71.69. 40,464,600 shares of the company traded hands, compared to its average volume of 6,844,036. The stock has a market capitalization of $76,095.96, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 1.29 and a beta of 0.89. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. CVS Health has a 12 month low of $66.45 and a 12 month high of $84.72.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. CVS Health’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $1.64 earnings per share. analysts anticipate that CVS Health will post 5.9 EPS for the current fiscal year.

In other CVS Health news, EVP Thomas M. Moriarty sold 90,267 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.61, for a total value of $7,186,155.87. Following the sale, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at approximately $5,580,820.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David M. Denton sold 237,078 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the completion of the sale, the chief financial officer now directly owns 141,096 shares in the company, valued at $11,238,296.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 714,125 shares of company stock worth $58,119,381. 0.61% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC lifted its position in CVS Health by 333.3% during the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 1,000 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in CVS Health by 330.3% during the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 991 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in CVS Health by 119.6% during the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after buying an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new position in CVS Health during the second quarter valued at approximately $119,000. Finally, TB Alternative Assets Ltd. acquired a new position in CVS Health during the second quarter valued at approximately $121,000. 82.24% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for CVS Health (NYSE:CVS)

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