CVS Health Corporation (CVS) Upgraded to Buy by Needham & Company LLC
Needham & Company LLC upgraded shares of CVS Health Corporation (NYSE:CVS) from a hold rating to a buy rating in a research report report published on Friday. Needham & Company LLC currently has $79.00 price target on the pharmacy operator’s stock, up from their previous price target of $69.02.
Several other equities research analysts also recently weighed in on CVS. Jefferies Group LLC reaffirmed a hold rating and set a $82.00 price target on shares of CVS Health Corporation in a research report on Friday, July 14th. BidaskClub downgraded CVS Health Corporation from a hold rating to a sell rating in a research report on Monday, July 24th. Wolfe Research downgraded CVS Health Corporation from an outperform rating to a market perform rating and cut their price target for the stock from $89.00 to $82.00 in a research report on Monday, August 14th. Robert W. Baird reaffirmed an outperform rating and set a $90.00 price target on shares of CVS Health Corporation in a research 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 on the stock in a research report on Thursday, August 17th. One investment 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 currently has a consensus rating of Buy and a consensus price target of $85.82.
Shares of CVS Health Corporation (CVS) traded up $1.97 during mid-day trading on Friday, reaching $70.99. The company had a trading volume of 10,299,801 shares, compared to its average volume of 6,615,108. The stock has a market cap of $69,916.70, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.56. CVS Health Corporation has a one year low of $66.45 and a one year high of $84.72.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the 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 return on equity of 16.96% and a net margin of 2.77%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Monday, October 23rd. CVS Health Corporation’s payout ratio is presently 41.32%.
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.
A number of hedge funds and other institutional investors have recently made changes to their positions in CVS. FMR LLC raised 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 purchasing an additional 5,446,930 shares during the period. Boston Partners raised 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 purchasing an additional 2,638,888 shares during the period. Ameriprise Financial Inc. raised its position in CVS Health Corporation by 30.2% in the third quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock valued at $648,683,000 after purchasing an additional 1,849,593 shares during the period. Parametric Portfolio Associates LLC raised 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 purchasing an additional 1,647,168 shares during the period. Finally, Prudential Financial Inc. raised 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 purchasing an additional 1,125,400 shares during the period. 81.46% 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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