CVS Health Corporation (CVS) Rating Reiterated by Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. reissued their buy rating on shares of CVS Health Corporation (NYSE:CVS) in a research note released on Monday. They currently have a $95.00 price target on the pharmacy operator’s stock.

A number of other analysts have also weighed in on CVS. Vetr lowered shares of CVS Health Corporation from a strong-buy rating to a buy rating and set a $88.97 price objective on the stock. in a research report on Monday, June 12th. Cowen and Company reissued an outperform rating and issued a $86.00 price objective on shares of CVS Health Corporation in a research report on Tuesday, June 13th. Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the stock a buy rating in a research report on Tuesday, June 27th. Needham & Company LLC began coverage on shares of CVS Health Corporation in a research report on Tuesday, June 27th. They set a hold rating on the stock. Finally, Guggenheim reaffirmed a buy rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. CVS Health Corporation presently has an average rating of Buy and a consensus price target of $90.23.

CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same period in the prior year, the company posted $1.32 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Tuesday, October 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.71%. The ex-dividend date is Monday, October 23rd. CVS Health Corporation’s payout ratio is 39.92%.

In related news, CFO David M. Denton sold 237,078 shares of CVS Health Corporation stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the transaction, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at $11,238,296.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total transaction of $199,050.00. Following the transaction, the director now directly owns 3,258 shares in the company, valued at $259,401.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 716,625 shares of company stock worth $58,318,431. 0.61% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in CVS Health Corporation by 3.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock valued at $13,840,000 after buying an additional 5,478 shares during the period. Fiduciary Trust Co. increased its holdings in CVS Health Corporation by 1.2% during the first quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock valued at $28,732,000 after buying an additional 4,265 shares during the period. British Columbia Investment Management Corp increased its holdings in CVS Health Corporation by 3.7% during the first quarter. British Columbia Investment Management Corp now owns 561,299 shares of the pharmacy operator’s stock valued at $44,062,000 after buying an additional 19,794 shares during the period. Bahl & Gaynor Inc. increased its holdings in CVS Health Corporation by 1.1% during the first quarter. Bahl & Gaynor Inc. now owns 14,922 shares of the pharmacy operator’s stock valued at $1,171,000 after buying an additional 167 shares during the period. Finally, Independent Advisor Alliance increased its holdings in CVS Health Corporation by 6.7% during the first quarter. Independent Advisor Alliance now owns 26,460 shares of the pharmacy operator’s stock valued at $2,038,000 after buying an additional 1,652 shares during the period. 81.51% of the stock is currently owned by institutional investors.

About CVS Health Corporation

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

Analyst Recommendations for CVS Health Corporation (NYSE:CVS)

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