CVS Health (NYSE:CVS) PT Raised to $83.00

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CVS Health (NYSE:CVS) had its target price boosted by investment analysts at Citigroup from $72.00 to $83.00 in a research report issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the pharmacy operator’s stock. Citigroup‘s target price points to a potential upside of 14.53% from the company’s current price. The analysts noted that the move was a valuation call.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada initiated coverage on shares of CVS Health in a research note on Friday, September 27th. They issued an “outperform” rating and a $85.00 price objective on the stock. Cowen set a $76.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Monday, October 21st. Bank of America lifted their price objective on shares of CVS Health from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Evercore ISI set a $63.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $77.59.

Shares of NYSE CVS traded up $0.69 during midday trading on Thursday, reaching $72.47. The company’s stock had a trading volume of 9,079,719 shares, compared to its average volume of 6,966,567. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95. CVS Health has a fifty-two week low of $51.72 and a fifty-two week high of $82.15. The business’s 50 day moving average price is $64.66 and its two-hundred day moving average price is $58.54. The company has a market cap of $87.55 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.46 and a beta of 0.86.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The company had revenue of $64.81 billion during the quarter, compared to the consensus estimate of $62.99 billion. During the same period in the previous year, the business earned $1.73 earnings per share. The firm’s quarterly revenue was up 36.5% on a year-over-year basis. Sell-side analysts forecast that CVS Health will post 6.99 earnings per share for the current fiscal year.

In related news, EVP Troyen A. Brennan sold 23,604 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $68.00, for a total value of $1,605,072.00. Following the sale, the executive vice president now owns 107,921 shares of the company’s stock, valued at $7,338,628. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joshua Matthew Flum sold 17,703 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the completion of the sale, the executive vice president now directly owns 36,163 shares in the company, valued at approximately $2,278,269. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,437 shares of company stock worth $3,248,811. Insiders own 0.53% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Haverford Trust Co. grew its stake in shares of CVS Health by 3.0% in the second quarter. Haverford Trust Co. now owns 1,578,669 shares of the pharmacy operator’s stock worth $86,022,000 after purchasing an additional 46,182 shares during the last quarter. First Heartland Consultants Inc. lifted its holdings in CVS Health by 1.9% in the second quarter. First Heartland Consultants Inc. now owns 29,437 shares of the pharmacy operator’s stock valued at $1,604,000 after buying an additional 543 shares during the period. Berkeley Capital Partners LLC lifted its holdings in CVS Health by 8.1% in the second quarter. Berkeley Capital Partners LLC now owns 18,337 shares of the pharmacy operator’s stock valued at $999,000 after buying an additional 1,380 shares during the period. Corient Capital Partners LLC lifted its holdings in CVS Health by 9.5% in the second quarter. Corient Capital Partners LLC now owns 33,113 shares of the pharmacy operator’s stock valued at $1,804,000 after buying an additional 2,872 shares during the period. Finally, Nepsis Inc. acquired a new position in CVS Health in the second quarter valued at $5,897,000. 76.17% of the stock is currently owned by institutional investors.

CVS Health Company Profile

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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The Fly

Analyst Recommendations for CVS Health (NYSE:CVS)

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