CVS Health (NYSE:CVS) Price Target Raised to $72.00 at Wells Fargo & Co

CVS Health (NYSE:CVS) had its target price upped by Wells Fargo & Co from $62.00 to $72.00 in a research note issued to investors on Friday morning, Stock Target Advisor reports. Wells Fargo & Co currently has a market perform rating on the pharmacy operator’s stock.

Several other brokerages have also recently commented on CVS. SunTrust Banks boosted their price objective on shares of CVS Health to $85.00 and gave the company a buy rating in a research note on Thursday. Mizuho boosted their price objective on shares of CVS Health from $71.00 to $82.00 and gave the company a buy rating in a research note on Friday. Royal Bank of Canada started coverage on shares of CVS Health in a research note on Friday, September 27th. They set an outperform rating and a $85.00 price objective for the company. Deutsche Bank started coverage on shares of CVS Health in a research note on Thursday, September 12th. They set a buy rating and a $91.00 price objective for the company. Finally, TheStreet raised shares of CVS Health from a c+ rating to a b- rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $77.59.

Shares of CVS traded up $0.69 during trading hours on Friday, hitting $72.47. The company’s stock had a trading volume of 9,079,719 shares, compared to its average volume of 6,966,567. The company has a market cap of $87.55 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.95 and a quick ratio of 0.64. The business has a 50 day simple moving average of $64.66 and a two-hundred day simple moving average of $58.54. CVS Health has a 52-week low of $51.72 and a 52-week high of $82.15.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.07. The firm had revenue of $64.81 billion during the quarter, compared to the consensus estimate of $62.99 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The company’s revenue was up 36.5% on a year-over-year basis. During the same quarter last year, the company earned $1.73 earnings per share. Research analysts predict that CVS Health will post 6.99 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 24th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.76%. CVS Health’s payout ratio is presently 28.25%.

In other CVS Health news, CFO Eva C. Boratto sold 8,130 shares of CVS Health stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $65.00, for a total transaction of $528,450.00. Following the completion of the sale, the chief financial officer now directly owns 55,273 shares in the company, valued at $3,592,745. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joshua Matthew Flum sold 17,703 shares of CVS Health stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the sale, the executive vice president now owns 36,163 shares of the company’s stock, valued at $2,278,269. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,437 shares of company stock valued at $3,248,811. 0.53% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in CVS. 1 North Wealth Services LLC bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $29,000. Centaurus Financial Inc. lifted its holdings in shares of CVS Health by 570.8% in the 1st quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 1,387 shares during the last quarter. Manchester Financial Inc. bought a new stake in shares of CVS Health in the 2nd quarter worth approximately $31,000. Hudock Capital Group LLC lifted its holdings in shares of CVS Health by 54.0% in the 2nd quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 202 shares during the last quarter. Finally, Executive Wealth Management LLC lifted its holdings in shares of CVS Health by 62.4% in the 2nd quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 217 shares during the last quarter. Institutional investors and hedge funds own 76.17% of the company’s stock.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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