CVS Health (CVS) Given a $85.00 Price Target at Leerink Swann
Other analysts have also issued reports about the company. Mizuho set a $90.00 target price on CVS Health and gave the company a buy rating in a research note on Tuesday, October 24th. Oppenheimer reiterated a buy rating and issued a $95.00 price target on shares of CVS Health in a report on Monday, October 9th. SunTrust Banks set a $85.00 price target on CVS Health and gave the company a buy rating in a report on Thursday, October 12th. Cowen set a $86.00 price target on CVS Health and gave the company a buy rating in a report on Sunday, October 29th. Finally, Needham & Company LLC upgraded CVS Health from a hold rating to a buy rating and raised their price target for the company from $69.02 to $79.00 in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $86.35.
Shares of CVS Health (NYSE CVS) traded down $3.43 during trading hours on Monday, hitting $71.69. The stock had a trading volume of 40,464,600 shares, compared to its average volume of 6,844,036. CVS Health has a 52 week low of $66.45 and a 52 week high of $84.72. The firm has a market capitalization of $76,095.96, a price-to-earnings ratio of 13.16, a PEG ratio of 1.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05.
CVS Health (NYSE:CVS) last announced its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. During the same period last year, the company posted $1.64 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. analysts predict that CVS Health will post 5.9 EPS for the current fiscal year.
In related news, EVP Thomas M. Moriarty sold 90,267 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was 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 owns 70,102 shares in the company, valued at approximately $5,580,820.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David M. Denton sold 237,078 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.65, for a total value of $18,883,262.70. Following the sale, the chief financial officer now owns 141,096 shares in the company, valued at approximately $11,238,296.40. The disclosure for this sale can be found here. Insiders sold a total of 714,125 shares of company stock valued at $58,119,381 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Fieldpoint Private Securities LLC boosted its holdings in CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after acquiring an additional 1,000 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in CVS Health by 330.3% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock worth $105,000 after acquiring an additional 991 shares in the last quarter. Arcadia Investment Management Corp MI boosted its holdings in CVS Health by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after acquiring an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in CVS Health in the second quarter worth approximately $119,000. Finally, TB Alternative Assets Ltd. purchased a new stake in shares of CVS Health in the second quarter worth approximately $121,000. Institutional investors own 82.24% of the company’s stock.
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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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