CVS Health (NYSE:CVS) had its price target decreased by analysts at Morgan Stanley from $88.00 to $80.00 in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the pharmacy operator’s stock. Morgan Stanley’s target price would indicate a potential upside of 24.03% from the stock’s previous close.
A number of other brokerages have also issued reports on CVS. Mizuho restated a “buy” rating on shares of CVS Health in a research report on Saturday, June 30th. ValuEngine lowered shares of CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 8th. Bank of America decreased their target price on shares of CVS Health from $91.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, April 11th. Leerink Swann set a $85.00 target price on shares of CVS Health and gave the stock a “buy” rating in a research report on Tuesday, April 10th. Finally, Royal Bank of Canada decreased their target price on shares of CVS Health to $84.00 and set an “outperform” rating on the stock in a research report on Friday, June 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $85.51.
Shares of CVS Health opened at $64.50 on Tuesday, according to MarketBeat Ratings. CVS Health has a 1 year low of $60.14 and a 1 year high of $84.00. The company has a market cap of $65.57 billion, a P/E ratio of 10.35, a PEG ratio of 0.90 and a beta of 1.00. The company has a current ratio of 2.37, a quick ratio of 1.88 and a debt-to-equity ratio of 1.59.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.09. CVS Health had a net margin of 3.59% and a return on equity of 17.45%. The firm had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.77 billion. During the same quarter last year, the business earned $1.17 earnings per share. CVS Health’s revenue was up 2.6% compared to the same quarter last year. sell-side analysts anticipate that CVS Health will post 6.99 earnings per share for the current year.
In other CVS Health news, Director C David Brown II bought 10,000 shares of the business’s stock in a transaction dated Friday, May 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $619,900.00. Following the purchase, the director now owns 101,252 shares in the company, valued at approximately $6,276,611.48. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.53% of the company’s stock.
Several hedge funds have recently modified their holdings of CVS. Argyle Capital Management Inc. raised its stake in shares of CVS Health by 54.2% in the 4th quarter. Argyle Capital Management Inc. now owns 38,560 shares of the pharmacy operator’s stock valued at $2,796,000 after acquiring an additional 13,550 shares during the period. First Personal Financial Services raised its stake in shares of CVS Health by 11.7% in the 4th quarter. First Personal Financial Services now owns 38,691 shares of the pharmacy operator’s stock valued at $2,805,000 after acquiring an additional 4,068 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of CVS Health by 72.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 684,496 shares of the pharmacy operator’s stock valued at $49,626,000 after acquiring an additional 287,187 shares during the period. Foundry Partners LLC raised its stake in shares of CVS Health by 51.0% in the 4th quarter. Foundry Partners LLC now owns 257,700 shares of the pharmacy operator’s stock valued at $18,683,000 after acquiring an additional 87,080 shares during the period. Finally, Eqis Capital Management Inc. raised its stake in shares of CVS Health by 38.4% in the 4th quarter. Eqis Capital Management Inc. now owns 38,483 shares of the pharmacy operator’s stock valued at $2,790,000 after acquiring an additional 10,678 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Company Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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