CVS Health (NYSE:CVS) had its price target lifted by analysts at Needham & Company LLC from $85.00 to $88.00 in a note issued to investors on Tuesday, January 2nd, Marketbeat reports. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 13.64% from the stock’s previous close.
Several other research analysts have also commented on CVS. Jefferies Group lifted their price objective on shares of CVS Health from $82.00 to $86.00 and gave the stock a “hold” rating in a research note on Friday, September 15th. Royal Bank of Canada started coverage on shares of CVS Health in a research note on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price objective for the company. Oppenheimer reaffirmed a “buy” rating and set a $95.00 price objective on shares of CVS Health in a research note on Monday, October 9th. SunTrust Banks set a $85.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, Mizuho set a $90.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $86.66.
Shares of CVS Health (NYSE:CVS) traded down $0.25 on Tuesday, reaching $77.44. 8,772,199 shares of the company traded hands, compared to its average volume of 9,601,557. CVS Health has a 12 month low of $66.45 and a 12 month high of $84.72. The company has a market capitalization of $79,240.00, a PE ratio of 16.00, a PEG ratio of 1.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion for the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. CVS Health’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 earnings per share. analysts anticipate that CVS Health will post 5.9 earnings per share for the current year.
In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the transaction, the executive vice president now directly owns 15,556 shares in the company, valued at $1,166,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Horan Capital Advisors LLC. increased its holdings in shares of CVS Health by 3.2% during the second quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock valued at $2,584,000 after acquiring an additional 1,000 shares in the last quarter. Community Bank N.A. increased its holdings in CVS Health by 7.3% in the 2nd quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock worth $1,608,000 after buying an additional 1,362 shares during the period. FIL Ltd increased its holdings in CVS Health by 13.8% in the 2nd quarter. FIL Ltd now owns 514,836 shares of the pharmacy operator’s stock worth $41,424,000 after buying an additional 62,318 shares during the period. Midwest Investment Management LLC increased its holdings in CVS Health by 6.2% in the 2nd quarter. Midwest Investment Management LLC now owns 21,382 shares of the pharmacy operator’s stock worth $1,720,000 after buying an additional 1,245 shares during the period. Finally, Fiduciary Trust Co. increased its holdings in CVS Health by 1.2% in the 1st quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock worth $28,732,000 after buying an additional 4,265 shares during the period. Hedge funds and other institutional investors own 81.62% of the company’s stock.
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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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