Raymond James Financial upgraded shares of CVS Health (NYSE:CVS) from an outperform rating to a strong-buy rating in a research report released on Thursday, January 4th, MarketBeat reports. They currently have $90.00 target price on the pharmacy operator’s stock. The analysts noted that the move was a valuation call.
CVS has been the topic of several other research reports. Loop Capital decreased their price target on shares of CVS Health from $83.00 to $73.00 and set a hold rating on the stock in a research note on Tuesday, November 7th. Needham & Company LLC upped their target price on shares of CVS Health from $85.00 to $88.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Jefferies Group decreased their target price on shares of CVS Health from $86.00 to $76.00 and set a hold rating on the stock in a research report on Tuesday, November 7th. Deutsche Bank initiated coverage on shares of CVS Health in a research report on Monday, December 4th. They set a buy rating and a $90.00 target price on the stock. Finally, Oppenheimer reiterated a buy rating and set a $95.00 price target on shares of CVS Health in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $86.66.
Shares of CVS Health (NYSE CVS) traded down $0.24 during mid-day trading on Thursday, hitting $78.78. 7,098,200 shares of the stock were exchanged, compared to its average volume of 9,051,855. CVS Health has a 12-month low of $66.45 and a 12-month 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 company has a market cap of $79,800.00, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.54%. CVS Health’s dividend payout ratio is currently 41.32%.
In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the transaction, the executive vice president now owns 15,556 shares of the company’s stock, valued at $1,166,700. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CVS. KCS Wealth Advisory acquired a new stake in CVS Health during the fourth quarter valued at $355,000. CMH Wealth Management LLC grew its position in CVS Health by 131.1% during the fourth quarter. CMH Wealth Management LLC now owns 30,425 shares of the pharmacy operator’s stock valued at $2,237,000 after buying an additional 17,260 shares during the period. Hexavest Inc. grew its position in CVS Health by 18.2% during the fourth quarter. Hexavest Inc. now owns 1,329,539 shares of the pharmacy operator’s stock valued at $96,392,000 after buying an additional 204,618 shares during the period. Benson Investment Management Company Inc. acquired a new stake in CVS Health during the fourth quarter valued at $2,677,000. Finally, Lathrop Investment Management Corp grew its position in CVS Health by 4.7% during the fourth quarter. Lathrop Investment Management Corp now owns 150,786 shares of the pharmacy operator’s stock valued at $10,932,000 after buying an additional 6,831 shares during the period. Hedge funds and other institutional investors own 81.69% of the company’s stock.
CVS Health 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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