Needham & Company LLC upgraded shares of CVS Health Corporation (NYSE:CVS) from a hold rating to a buy rating in a research note released on Friday, Marketbeat reports. They currently have $79.00 price target on the pharmacy operator’s stock, up from their prior price target of $69.02.
A number of other brokerages also recently weighed in on CVS. Royal Bank Of Canada assumed coverage on shares of CVS Health Corporation in a report on Tuesday, September 19th. They issued an outperform rating and a $95.00 price target on the stock. Jefferies Group LLC upped their price objective on shares of CVS Health Corporation from $82.00 to $86.00 and gave the company a hold rating in a report on Friday, September 15th. BidaskClub raised shares of CVS Health Corporation from a sell rating to a hold rating in a report on Wednesday, August 2nd. Wolfe Research downgraded shares of CVS Health Corporation from an outperform rating to a market perform rating and dropped their price objective for the company from $89.00 to $82.00 in a report on Monday, August 14th. Finally, Robert W. Baird reaffirmed an outperform rating and set a $90.00 price objective on shares of CVS Health Corporation in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. CVS Health Corporation has a consensus rating of Buy and a consensus price target of $85.82.
Shares of CVS Health Corporation (NYSE:CVS) traded down $1.43 during trading hours on Friday, hitting $70.05. 1,734,800 shares of the company were exchanged, compared to its average volume of 6,629,993. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The stock has a market cap of $71,912.30, a P/E ratio of 12.43, a P/E/G ratio of 1.22 and a beta of 0.86. CVS Health Corporation has a 52 week low of $66.45 and a 52 week high of $84.72.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Tuesday, October 24th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, October 23rd. CVS Health Corporation’s dividend payout ratio (DPR) is 41.32%.
In related news, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total value of $199,050.00. Following the transaction, the director now directly owns 3,258 shares in the company, valued at $259,401.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Larry J. Merlo sold 241,150 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the completion of the transaction, the insider now owns 299,255 shares in the company, valued at $24,859,112.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 716,625 shares of company stock worth $58,318,431. 0.61% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Cohen & Steers Inc. increased its position in shares of CVS Health Corporation by 21.3% in the third quarter. Cohen & Steers Inc. now owns 191,794 shares of the pharmacy operator’s stock worth $15,597,000 after purchasing an additional 33,672 shares during the last quarter. Cadinha & Co. LLC increased its position in shares of CVS Health Corporation by 24.8% in the third quarter. Cadinha & Co. LLC now owns 152,820 shares of the pharmacy operator’s stock worth $12,427,000 after purchasing an additional 30,395 shares during the last quarter. First Republic Investment Management Inc. grew its position in CVS Health Corporation by 1.8% during the third quarter. First Republic Investment Management Inc. now owns 923,027 shares of the pharmacy operator’s stock valued at $75,060,000 after acquiring an additional 16,721 shares during the last quarter. Psagot Investment House Ltd. grew its position in CVS Health Corporation by 8.0% during the third quarter. Psagot Investment House Ltd. now owns 56,601 shares of the pharmacy operator’s stock valued at $4,603,000 after acquiring an additional 4,180 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in CVS Health Corporation by 1.0% during the third quarter. Asset Management One Co. Ltd. now owns 1,665,288 shares of the pharmacy operator’s stock valued at $135,414,000 after acquiring an additional 16,030 shares during the last quarter. Institutional investors own 82.04% of the company’s stock.
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.
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