Raymond James Cuts CVS Health (CVS) Price Target to $75.00

CVS Health (NYSE:CVS) had its price objective lowered by Raymond James from $90.00 to $75.00 in a report published on Thursday, BenzingaRatingsTable reports. The brokerage currently has a strong-buy rating on the pharmacy operator’s stock.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets assumed coverage on CVS Health in a report on Wednesday, April 10th. They issued an outperform rating and a $58.00 target price on the stock. Guggenheim assumed coverage on CVS Health in a report on Thursday. They issued a buy rating and a $75.00 target price on the stock. UBS Group reduced their target price on CVS Health from $75.00 to $74.00 and set a buy rating on the stock in a report on Thursday, February 21st. SunTrust Banks reduced their target price on CVS Health from $85.00 to $65.00 in a report on Wednesday, April 10th. Finally, Oppenheimer downgraded CVS Health from an outperform rating to a market perform rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $79.15.

Shares of NYSE:CVS opened at $52.63 on Thursday. The company has a market cap of $68.34 billion, a P/E ratio of 7.43, a P/E/G ratio of 1.03 and a beta of 0.94. CVS Health has a 1 year low of $51.77 and a 1 year high of $82.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.65 and a current ratio of 1.03.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.07. The firm had revenue of $54.42 billion for the quarter, compared to the consensus estimate of $53.78 billion. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 EPS. On average, analysts anticipate that CVS Health will post 6.79 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, April 22nd. CVS Health’s payout ratio is 28.25%.

In other news, Director David W. Dorman purchased 9,600 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of $52.71 per share, for a total transaction of $506,016.00. Following the purchase, the director now owns 122,302 shares of the company’s stock, valued at $6,446,538.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Larry J. Merlo sold 166,368 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $64.51, for a total value of $10,732,399.68. The disclosure for this sale can be found here. Over the last quarter, insiders bought 23,600 shares of company stock valued at $1,270,896 and sold 245,671 shares valued at $15,839,966. 0.53% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in CVS Health by 22.0% during the 4th quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock worth $6,090,409,000 after purchasing an additional 16,757,941 shares during the last quarter. Vanguard Group Inc. raised its position in CVS Health by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after purchasing an additional 1,445,887 shares during the last quarter. Vanguard Group Inc raised its position in CVS Health by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after purchasing an additional 1,445,887 shares during the last quarter. FMR LLC raised its position in CVS Health by 30.6% during the 4th quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock worth $2,572,528,000 after purchasing an additional 9,194,005 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in CVS Health by 6,858.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock worth $383,000 after purchasing an additional 24,728,818 shares during the last quarter. Institutional investors own 81.55% of the company’s stock.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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