CVS Health Corp (CVS) Given Average Rating of “Buy” by Analysts
CVS Health Corp (NYSE:CVS) has earned a consensus recommendation of “Buy” from the twenty-five ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $85.92.
Several research firms recently weighed in on CVS. Loop Capital decreased their price objective 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. Needham & Company LLC upped their price objective on shares of CVS Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday. 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 initiated coverage on shares of CVS Health in a research report on Monday. They set a “buy” rating and a $90.00 price target on the stock. Finally, Raymond James Financial reiterated a “buy” rating on shares of CVS Health in a research report on Monday.
In other news, CFO David M. Denton sold 237,078 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 141,096 shares in the company, valued at $11,238,296.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 70,102 shares in the company, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. Insiders sold 714,125 shares of company stock worth $58,119,381 in the last 90 days. Company insiders own 0.61% of the company’s stock.
Several institutional investors have recently modified their holdings of CVS. AXA lifted its stake in CVS Health by 14.8% in the third quarter. AXA now owns 681,252 shares of the pharmacy operator’s stock worth $55,399,000 after acquiring an additional 87,634 shares during the period. Shelton Capital Management lifted its stake in CVS Health by 19.4% in the third quarter. Shelton Capital Management now owns 52,860 shares of the pharmacy operator’s stock worth $4,299,000 after acquiring an additional 8,574 shares during the period. Chicago Partners Investment Group LLC lifted its stake in CVS Health by 204.9% in the third quarter. Chicago Partners Investment Group LLC now owns 10,667 shares of the pharmacy operator’s stock worth $867,000 after acquiring an additional 7,169 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in CVS Health in the third quarter worth $1,365,000. Finally, Public Employees Retirement System of Ohio lifted its stake in CVS Health by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 728,256 shares of the pharmacy operator’s stock worth $59,222,000 after acquiring an additional 2,594 shares during the period. Hedge funds and other institutional investors own 82.24% of the company’s stock.
CVS Health (NYSE CVS) traded up $0.37 during mid-day trading on Thursday, hitting $71.38. 12,371,700 shares of the company traded hands, compared to its average volume of 6,904,070. 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 company has a market capitalization of $71,932.56, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.22 and a beta of 0.89. CVS Health has a one year low of $66.45 and a one year high of $84.72.
CVS Health (NYSE:CVS) last posted its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion for the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. CVS Health’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 earnings per share. equities analysts anticipate that CVS Health will post 5.9 earnings per share for the current fiscal year.
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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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