Needham & Company LLC upgraded shares of CVS Health Corporation (NYSE:CVS) from a hold rating to a buy rating in a report issued on Friday, November 10th, MarketBeat reports. Needham & Company LLC currently has $79.00 target price on the pharmacy operator’s stock, up from their previous target price of $69.02.
A number of other equities analysts also recently issued reports on CVS. Jefferies Group LLC reaffirmed a hold rating and issued a $82.00 price target on shares of CVS Health Corporation in a report on Friday, July 14th. BidaskClub downgraded CVS Health Corporation from a hold rating to a sell rating in a report on Monday, July 24th. Wolfe Research downgraded CVS Health Corporation from an outperform rating to a market perform rating and decreased their price objective for the company from $89.00 to $82.00 in a report on Monday, August 14th. Robert W. Baird reissued an outperform rating and issued a $90.00 price objective on shares of CVS Health Corporation in a report on Monday, August 14th. Finally, Citigroup Inc. cut their price target on CVS Health Corporation from $88.00 to $87.00 and set a neutral rating for the company in a research note on Thursday, August 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $85.82.
CVS Health Corporation (NYSE CVS) traded down $0.02 during midday trading on Friday, hitting $71.48. The stock had a trading volume of 5,315,400 shares, compared to its average volume of 6,630,580. CVS Health Corporation has a fifty-two week low of $66.45 and a fifty-two week high of $84.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. The stock has a market cap of $72,428.93, a price-to-earnings ratio of 12.52, a PEG ratio of 1.23 and a beta of 0.86.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.01. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The firm had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same period in the previous year, the firm earned $1.64 EPS. CVS Health Corporation’s revenue was up 3.5% on a year-over-year basis. equities research analysts expect that CVS Health Corporation will post 5.9 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.80%. The ex-dividend date was Monday, October 23rd. CVS Health Corporation’s payout ratio is currently 41.32%.
In other news, insider Larry J. Merlo sold 241,150 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total value of $20,032,330.50. Following the sale, the insider now owns 299,255 shares of the company’s stock, valued at approximately $24,859,112.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas M. Moriarty sold 20,547 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $81.17, for a total value of $1,667,799.99. Following the completion of the sale, the executive vice president now directly owns 43,178 shares in the company, valued at approximately $3,504,758.26. The disclosure for this sale can be found here. Insiders sold a total of 714,125 shares of company stock worth $58,119,381 in the last three months. Company insiders own 0.61% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of CVS Health Corporation by 22.0% during the 2nd quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock worth $2,425,920,000 after acquiring an additional 5,446,930 shares in the last quarter. Truepoint Inc. lifted its position in shares of CVS Health Corporation by 8,578.9% during the 3rd quarter. Truepoint Inc. now owns 3,757,530 shares of the pharmacy operator’s stock worth $3,758,000 after purchasing an additional 3,714,235 shares during the last quarter. Boston Partners lifted its position in shares of CVS Health Corporation by 69.1% during the 2nd quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock worth $519,711,000 after purchasing an additional 2,638,888 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of CVS Health Corporation by 30.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock worth $648,683,000 after purchasing an additional 1,849,593 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of CVS Health Corporation by 71.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock worth $317,805,000 after purchasing an additional 1,647,168 shares during the last quarter. 81.42% of the stock is currently owned by institutional investors.
CVS Health Corporation Company Profile
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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