Cantor Fitzgerald assumed coverage on shares of CVS Health (NYSE:CVS) in a research report released on Sunday. The brokerage issued an overweight rating and a $77.84 price objective on the pharmacy operator’s stock. Cantor Fitzgerald also issued estimates for CVS Health’s FY2018 earnings at $7.05 EPS and FY2019 earnings at $7.60 EPS.
A number of other equities analysts have also weighed in on CVS. Royal Bank of Canada restated a buy rating and issued a $90.00 target price on shares of CVS Health in a research note on Wednesday, August 8th. Leerink Swann set a $80.00 target price on CVS Health and gave the stock an outperform rating in a research note on Thursday, August 9th. ValuEngine upgraded CVS Health from a strong sell rating to a sell rating in a research note on Tuesday, August 28th. Bank of America upped their target price on CVS Health from $86.00 to $90.00 and gave the stock a buy rating in a research note on Monday, September 17th. Finally, Wolfe Research initiated coverage on CVS Health in a research note on Thursday, October 25th. They issued a peer perform rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. CVS Health currently has an average rating of Buy and an average price target of $90.69.
Shares of NYSE CVS opened at $78.91 on Friday. The stock has a market capitalization of $81.71 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 1.14 and a beta of 0.98. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.94 and a current ratio of 2.44. CVS Health has a twelve month low of $60.14 and a twelve month high of $83.88.
CVS Health (NYSE:CVS) last announced its earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The business had revenue of $47.27 billion for the quarter, compared to analyst estimates of $47.22 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 EPS. Research analysts forecast that CVS Health will post 7.03 EPS for the current fiscal year.
In other news, EVP Eva C. Boratto sold 13,311 shares of the stock in a transaction dated Monday, September 17th. The stock was 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 directly owns 55,162 shares in the company, valued at approximately $4,256,299.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Denton sold 25,159 shares of the stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $80.13, for a total value of $2,015,990.67. Following the transaction, the chief financial officer now owns 403 shares in the company, valued at $32,292.39. The disclosure for this sale can be found here. Insiders have sold a total of 74,233 shares of company stock worth $5,932,565 over the last quarter. Corporate insiders own 0.53% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Camarda Financial Advisors LLC purchased a new stake in CVS Health during the 2nd quarter valued at about $102,000. Canton Hathaway LLC purchased a new stake in CVS Health during the 3rd quarter valued at about $126,000. MCF Advisors LLC boosted its holdings in CVS Health by 284.1% during the 3rd quarter. MCF Advisors LLC now owns 1,713 shares of the pharmacy operator’s stock valued at $135,000 after acquiring an additional 1,267 shares during the period. Capital Guardian Trust Co. purchased a new stake in CVS Health during the 3rd quarter valued at about $142,000. Finally, Patten Group Inc. boosted its holdings in CVS Health by 163.4% during the 3rd quarter. Patten Group Inc. now owns 1,844 shares of the pharmacy operator’s stock valued at $145,000 after acquiring an additional 1,144 shares during the period. Hedge funds and other institutional investors own 84.50% of the company’s stock.
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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