CVS Health (NYSE:CVS) Downgraded by ValuEngine to “Strong Sell”
Several other research firms have also commented on CVS. JPMorgan Chase & Co. boosted their price target on CVS Health from $88.00 to $97.00 and gave the stock an overweight rating in a research report on Thursday, December 19th. UBS Group reissued a buy rating and set a $78.00 price target on shares of CVS Health in a research report on Thursday, November 7th. SunTrust Banks boosted their price target on CVS Health to $85.00 and gave the stock a buy rating in a research report on Thursday, November 7th. Royal Bank of Canada started coverage on CVS Health in a research report on Friday, September 27th. They set an outperform rating and a $85.00 price target on the stock. Finally, Raymond James reissued a strong-buy rating and set a $90.00 price target (up from $80.00) on shares of CVS Health in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $77.43.
Shares of NYSE:CVS opened at $74.59 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.61 and a current ratio of 0.92. CVS Health has a 1 year low of $51.72 and a 1 year high of $77.03. The stock has a market capitalization of $98.90 billion, a P/E ratio of 22.07, a PEG ratio of 1.62 and a beta of 0.89. The stock has a 50-day simple moving average of $74.19 and a 200-day simple moving average of $65.96.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Wednesday, January 22nd. CVS Health’s payout ratio is 28.25%.
In other CVS Health news, CEO Larry J. Merlo sold 266,476 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $74.79, for a total value of $19,929,740.04. Following the transaction, the chief executive officer now directly owns 703,497 shares of the company’s stock, valued at approximately $52,614,540.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Troyen A. Brennan sold 23,604 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $68.00, for a total value of $1,605,072.00. Following the completion of the transaction, the executive vice president now directly owns 107,921 shares in the company, valued at $7,338,628. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 427,786 shares of company stock worth $31,726,338. 0.53% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CVS. 1 North Wealth Services LLC acquired a new stake in shares of CVS Health during the 3rd quarter valued at approximately $29,000. Manchester Financial Inc. acquired a new stake in shares of CVS Health during the 4th quarter valued at approximately $35,000. Gradient Investments LLC raised its position in shares of CVS Health by 78.3% during the 3rd quarter. Gradient Investments LLC now owns 617 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 271 shares in the last quarter. Cordasco Financial Network acquired a new stake in shares of CVS Health during the 3rd quarter valued at approximately $44,000. Finally, Allred Capital Management LLC acquired a new stake in shares of CVS Health during the 4th quarter valued at approximately $55,000. 76.67% of the stock is currently owned by institutional investors.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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