Raymond James Financial reaffirmed their buy rating on shares of CVS Health (NYSE:CVS) in a report published on Monday morning.
A number of other equities analysts have also recently weighed in on CVS. Wolfe Research cut shares of CVS Health from an outperform rating to a market perform rating and lowered their price target for the stock from $89.00 to $82.00 in a research note on Monday, August 14th. Robert W. Baird reaffirmed an outperform rating and set a $90.00 price target on shares of CVS Health in a research note on Monday, August 14th. Citigroup lowered their price objective on shares of CVS Health from $88.00 to $87.00 and set a neutral rating on the stock in a research note on Thursday, August 17th. Loop Capital assumed coverage on shares of CVS Health in a research note on Thursday, August 24th. They issued a hold rating and a $83.00 price objective on the stock. Finally, BidaskClub cut shares of CVS Health from a hold rating to a sell rating in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $86.35.
CVS Health (NYSE CVS) traded down $3.43 during trading hours on Monday, hitting $71.69. 40,464,600 shares of the stock were exchanged, compared to its average volume of 6,844,036. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. CVS Health has a fifty-two week low of $66.45 and a fifty-two week high of $84.72. The firm has a market cap of $76,095.96, a PE ratio of 13.16, a PEG ratio of 1.29 and a beta of 0.89.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The business had revenue of $46.18 billion for the quarter, compared to analysts’ expectations of $46.17 billion. During the same period in the prior year, the company posted $1.64 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. analysts forecast that CVS Health will post 5.9 EPS for the current year.
In other CVS Health news, CFO David M. Denton sold 237,078 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at approximately $11,238,296.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 70,102 shares in the company, valued at $5,580,820.22. The disclosure for this sale can be found here. Insiders have sold a total of 714,125 shares of company stock worth $58,119,381 over the last ninety days. 0.61% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Fieldpoint Private Securities LLC lifted its holdings in shares of CVS Health by 333.3% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after acquiring an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC lifted its holdings in shares of 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 acquiring an additional 991 shares during the period. Arcadia Investment Management Corp MI lifted its holdings in shares of 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 acquiring an additional 726 shares during the period. MPS Loria Financial Planners LLC purchased a new position in shares of CVS Health during the 2nd quarter worth about $119,000. Finally, Gemmer Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 200 shares during the period. 82.24% of the stock is currently owned by institutional investors.
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About CVS Health
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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