Brokerages Set CVS Health Corporation (CVS) PT at $89.81
Shares of CVS Health Corporation (NYSE:CVS) have been assigned an average recommendation of “Buy” from the twenty-four ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $89.81.
A number of equities analysts have commented on CVS shares. Jefferies Group LLC restated a “hold” rating and set a $82.00 price objective on shares of CVS Health Corporation in a research report on Friday, June 9th. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price objective on the stock in a research note on Wednesday, May 24th. Cowen and Company reissued an “outperform” rating and issued a $86.00 price objective on shares of CVS Health Corporation in a research note on Tuesday, June 13th. ValuEngine cut shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th.
In other CVS Health Corporation news, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the sale, the chief financial officer now owns 176,983 shares in the company, valued at approximately $14,158,640. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Helena Foulkes sold 20,332 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $76.98, for a total value of $1,565,157.36. Following the sale, the executive vice president now owns 59,300 shares in the company, valued at approximately $4,564,914. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 273,675 shares of company stock worth $21,831,647. Corporate insiders own 0.61% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. FMR LLC boosted its position in CVS Health Corporation by 22.0% in the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after buying an additional 5,446,930 shares during the period. Boston Partners boosted its position in CVS Health Corporation by 69.1% in the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock valued at $519,711,000 after buying an additional 2,638,888 shares during the period. Parametric Portfolio Associates LLC boosted its position in CVS Health Corporation by 71.5% in the second quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock valued at $317,805,000 after buying an additional 1,647,168 shares during the period. LSV Asset Management boosted its position in CVS Health Corporation by 44.2% in the first quarter. LSV Asset Management now owns 4,579,916 shares of the pharmacy operator’s stock valued at $359,523,000 after buying an additional 1,404,384 shares during the period. Finally, Prudential Financial Inc. boosted its position in CVS Health Corporation by 61.8% in the second quarter. Prudential Financial Inc. now owns 2,946,531 shares of the pharmacy operator’s stock valued at $237,078,000 after buying an additional 1,125,400 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.
CVS Health Corporation (NYSE CVS) traded up 0.97% on Tuesday, hitting $78.09. 3,366,015 shares of the company’s stock were exchanged. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $94.30. The company’s 50-day moving average price is $78.10 and its 200-day moving average price is $78.92. The company has a market cap of $79.38 billion, a PE ratio of 15.56 and a beta of 0.91.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results 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 net margin of 2.93% and a return on equity of 17.47%. CVS Health Corporation’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 EPS. Analysts forecast that CVS Health Corporation will post $5.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, July 20th. This represents a $2.00 annualized dividend and a yield of 2.59%. CVS Health Corporation’s payout ratio is presently 39.92%.
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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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