Needham & Company LLC Raises CVS Health (CVS) Price Target to $88.00
CVS Health (NYSE:CVS) had its price objective upped by Needham & Company LLC from $85.00 to $88.00 in a research report report published on Tuesday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the pharmacy operator’s stock.
CVS has been the topic of several other research reports. Loop Capital reduced their price target on shares of CVS Health from $83.00 to $73.00 and set a hold rating on the stock in a research report on Tuesday, November 7th. Jefferies Group reduced their price target on shares of CVS Health from $86.00 to $76.00 and set a hold rating on the stock in a research report on Tuesday, November 7th. Deutsche Bank began coverage on shares of CVS Health in a research report on Monday, December 4th. They set a buy rating and a $90.00 price target on the stock. Raymond James Financial reaffirmed a buy rating on shares of CVS Health in a research report on Monday, December 4th. Finally, Oppenheimer reaffirmed a buy rating and set a $95.00 price target on shares of CVS Health in a research report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $86.42.
CVS Health (CVS) opened at $78.45 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. CVS Health has a 12 month low of $66.45 and a 12 month high of $84.72. The firm has a market cap of $79,470.00, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The firm had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.64 EPS. sell-side analysts predict that CVS Health will post 5.9 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 annualized dividend and a yield of 2.55%. CVS Health’s dividend payout ratio (DPR) is presently 41.32%.
In related news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the sale, the executive vice president now owns 15,556 shares in the company, valued at approximately $1,166,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Fieldpoint Private Securities LLC grew its stake in shares of 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 grew its stake in shares of 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 grew its stake in shares of 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 acquired a new position in shares of CVS Health in the second quarter worth $119,000. Finally, Gemmer Asset Management LLC grew its stake in shares of CVS Health by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 81.63% of the company’s stock.
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About CVS Health
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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