CVS Health (CVS) Price Target Raised to $90.00
CVS Health (NYSE:CVS) had its price objective hoisted by SunTrust Banks to $90.00 in a report issued on Friday morning, The Fly reports. They currently have a buy rating on the pharmacy operator’s stock. SunTrust Banks also issued estimates for CVS Health’s Q4 2017 earnings at $1.88 EPS, FY2017 earnings at $5.89 EPS, Q1 2018 earnings at $1.40 EPS, Q2 2018 earnings at $1.52 EPS, Q3 2018 earnings at $1.44 EPS, FY2018 earnings at $6.30 EPS, Q1 2019 earnings at $1.11 EPS, Q2 2019 earnings at $1.32 EPS and Q3 2019 earnings at $1.56 EPS.
Several other research analysts have also commented on CVS. ValuEngine lowered CVS Health from a buy rating to a hold rating in a report on Sunday, December 31st. Vetr lowered CVS Health from a buy rating to a hold rating and set a $77.11 price target on the stock. in a report on Thursday. UBS Group upgraded CVS Health from an outperform rating to a strong-buy rating in a report on Thursday. Morgan Stanley raised CVS Health from an equal weight rating to an overweight rating and set a $88.00 price objective for the company in a research report on Friday. Finally, Needham & Company LLC raised their price objective on CVS Health from $85.00 to $88.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $86.66.
CVS Health (NYSE:CVS) traded up $3.32 during midday trading on Friday, hitting $78.45. The stock had a trading volume of 15,338,000 shares, compared to its average volume of 10,267,775. CVS Health has a fifty-two week low of $66.45 and a fifty-two week 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 stock has a market cap of $78,780.00, a price-to-earnings ratio of 16.21, a PEG ratio of 1.38 and a beta of 0.90.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, topping the 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 business had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. equities research analysts expect that CVS Health will post 5.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Tuesday, January 23rd. CVS Health’s dividend payout ratio is currently 41.32%.
In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction dated Thursday, December 21st. The stock was 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 directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. grew its position in shares of CVS Health by 0.6% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock worth $232,000 after buying an additional 18 shares in the last quarter. Elefante Mark B grew its position in shares of CVS Health by 0.7% during the second quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock worth $515,000 after buying an additional 45 shares in the last quarter. Traynor Capital Management Inc. grew its position in shares of CVS Health by 1.3% during the second quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock worth $290,000 after buying an additional 48 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of CVS Health by 0.8% during the second quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock worth $515,000 after buying an additional 53 shares in the last quarter. Finally, Brookstone Capital Management grew its position in shares of CVS Health by 1.8% during the second quarter. Brookstone Capital Management now owns 3,153 shares of the pharmacy operator’s stock worth $254,000 after buying an additional 55 shares in the last quarter. 81.62% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.