CVS Health Corporation’s (CVS) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of CVS Health Corporation (NYSE:CVS) in a report released on Thursday.

Other analysts have also recently issued research reports about the company. Guggenheim reissued a buy rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Leerink Swann set a $90.00 target price on CVS Health Corporation and gave the stock a buy rating in a research note on Tuesday, June 27th. Oppenheimer Holdings, Inc. restated a buy rating and issued a $95.00 target price on shares of CVS Health Corporation in a research note on Monday, October 9th. Jefferies Group LLC raised their target price on CVS Health Corporation from $82.00 to $86.00 and gave the stock a hold rating in a research note on Friday, September 15th. Finally, BidaskClub upgraded CVS Health Corporation from a sell rating to a hold rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. CVS Health Corporation presently has a consensus rating of Buy and an average price target of $90.23.

CVS Health Corporation (CVS) opened at 72.60 on Thursday. The stock has a 50 day moving average price of $79.27 and a 200 day moving average price of $78.87. The stock has a market cap of $73.80 billion, a PE ratio of 14.46 and a beta of 0.92. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $88.84.

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. The firm had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 EPS. On average, analysts predict that CVS Health Corporation will post $5.88 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s payout ratio is presently 39.92%.

In other news, 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 sale, the director now owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health Corporation stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the sale, the executive vice president now directly owns 70,102 shares in the company, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 716,625 shares of company stock worth $58,318,431. Corporate insiders own 0.61% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CVS. Fieldpoint Private Securities LLC raised its position in CVS Health Corporation by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 1,000 shares during the period. Mercer Capital Advisers Inc. purchased a new stake in CVS Health Corporation in the first quarter valued at approximately $118,000. MPS Loria Financial Planners LLC purchased a new stake in CVS Health Corporation in the second quarter valued at approximately $119,000. Gemmer Asset Management LLC raised its position in CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after purchasing an additional 200 shares during the period. Finally, TB Alternative Assets Ltd. purchased a new stake in CVS Health Corporation in the second quarter valued at approximately $121,000. 81.46% of the stock is currently owned by hedge funds and other 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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