CVS Health (NYSE:CVS) Price Target Raised to $101.00

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CVS Health (NYSE:CVS) had its price objective boosted by Royal Bank of Canada to $101.00 in a research note released on Tuesday, September 18th, The Fly reports. The brokerage currently has an outperform rating on the pharmacy operator’s stock.

A number of other research firms also recently issued reports on CVS. Bank of America increased their price target on CVS Health from $86.00 to $90.00 and gave the stock a buy rating in a research report on Monday, September 17th. Mizuho reissued a buy rating on shares of CVS Health in a research report on Saturday, June 30th. ValuEngine raised CVS Health from a strong sell rating to a sell rating in a research report on Tuesday, August 28th. Morgan Stanley dropped their price objective on CVS Health from $88.00 to $80.00 and set an overweight rating on the stock in a research report on Tuesday, July 3rd. Finally, Citigroup reaffirmed a buy rating and set a $81.00 price objective on shares of CVS Health in a research report on Monday, July 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. CVS Health has an average rating of Buy and an average target price of $86.31.

Shares of CVS traded up $1.39 during midday trading on Tuesday, reaching $74.58. 9,475,196 shares of the stock were exchanged, compared to its average volume of 8,231,727. 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. The company has a market capitalization of $80.14 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.05 and a beta of 1.02.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The business had revenue of $46.71 billion for the quarter, compared to the consensus estimate of $46.34 billion. During the same quarter in the prior year, the company earned $1.33 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that CVS Health will post 7.05 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Tuesday, October 23rd. CVS Health’s payout ratio is currently 33.90%.

In other CVS Health news, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,722,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eva C. Boratto sold 13,311 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $77.16, for a total value of $1,027,076.76. Following the completion of the sale, the executive vice president now owns 55,162 shares of the company’s stock, valued at $4,256,299.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,409 shares of company stock valued at $3,392,097. 0.53% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Camarda Financial Advisors LLC purchased a new position in shares of CVS Health in the second quarter worth about $102,000. Quantbot Technologies LP purchased a new position in shares of CVS Health in the first quarter worth about $103,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of CVS Health in the second quarter worth about $103,000. Legacy Advisors LLC raised its stake in shares of CVS Health by 7,100.0% in the second quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock worth $116,000 after purchasing an additional 1,775 shares during the last quarter. Finally, Squar Milner Financial Services LLC purchased a new position in shares of CVS Health in the second quarter worth about $122,000. Institutional investors own 82.75% 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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The Fly

Analyst Recommendations for CVS Health (NYSE:CVS)

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