CVS Health (NYSE:CVS) has been given a $100.00 price objective by stock analysts at Morgan Stanley in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. Morgan Stanley’s price target would suggest a potential upside of 26.39% from the stock’s current price.
CVS has been the topic of several other research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $90.00 price target on shares of CVS Health in a report on Wednesday, August 8th. Leerink Swann set a $80.00 price target on shares of CVS Health and gave the company an “outperform” rating in a report on Thursday, August 9th. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 28th. Bank of America upped their price target on shares of CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 17th. Finally, Wolfe Research assumed coverage on shares of CVS Health in a report on Thursday, October 25th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $87.58.
CVS stock traded up $1.22 during trading on Wednesday, reaching $79.12. 7,177,457 shares of the company were exchanged, compared to its average volume of 7,920,882. The company has a market cap of $74.41 billion, a P/E ratio of 13.41, a P/E/G ratio of 0.97 and a beta of 0.98. CVS Health has a 52-week low of $60.14 and a 52-week high of $83.88. The company has a current ratio of 2.34, a quick ratio of 1.87 and a debt-to-equity ratio of 1.73.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $47.27 billion for the quarter, compared to the consensus estimate of $47.22 billion. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 earnings per share. On average, equities research analysts expect that CVS Health will post 7.04 earnings per share for the current year.
In related news, EVP Eva C. Boratto sold 13,311 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the transaction, the executive vice president now owns 55,162 shares of the company’s stock, valued at $4,256,299.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin Hourican sold 8,564 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the transaction, the executive vice president now directly owns 12,135 shares in the company, valued at approximately $910,125. The disclosure for this sale can be found here. Insiders have sold 43,409 shares of company stock worth $3,392,097 in the last three months. Insiders own 0.53% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CVS. BlackRock Inc. lifted its stake in shares of CVS Health by 5.9% during the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock valued at $4,770,597,000 after buying an additional 4,121,620 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new position in CVS Health during the second quarter worth approximately $190,701,000. Boston Partners increased its position in CVS Health by 41.9% during the second quarter. Boston Partners now owns 9,908,888 shares of the pharmacy operator’s stock worth $637,637,000 after purchasing an additional 2,924,875 shares during the last quarter. Morgan Stanley increased its position in CVS Health by 28.4% during the second quarter. Morgan Stanley now owns 8,358,263 shares of the pharmacy operator’s stock worth $537,854,000 after purchasing an additional 1,848,678 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in CVS Health by 52.1% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,171,271 shares of the pharmacy operator’s stock worth $332,771,000 after purchasing an additional 1,771,170 shares during the last quarter. 82.42% 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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