CVS Health’s (CVS) Outperform Rating Reaffirmed at Cowen
Cowen reaffirmed their outperform rating on shares of CVS Health (NYSE:CVS) in a research note released on Thursday morning, The Fly reports. Cowen currently has a $99.00 price target on the pharmacy operator’s stock, up from their prior price target of $81.00.
Several other analysts have also weighed in on CVS. Needham & Company LLC upgraded shares of CVS Health from a hold rating to a buy rating and lifted their target price for the company from $69.02 to $79.00 in a research report on Friday, November 10th. SunTrust Banks set a $85.00 target price on shares of CVS Health and gave the company a buy rating in a research report on Thursday, October 12th. Mizuho set a $90.00 target price on shares of CVS Health and gave the company a buy rating in a research report on Tuesday, October 24th. Oppenheimer reiterated a buy rating and set a $95.00 target price on shares of CVS Health in a research report on Monday, October 9th. Finally, 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 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. CVS Health currently has an average rating of Buy and an average price target of $87.25.
Shares of CVS Health (NYSE:CVS) opened at $79.86 on Thursday. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The stock has a market cap of $80,900.00, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.26 and a beta of 0.90. CVS Health has a 12-month low of $66.45 and a 12-month high of $84.00.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Tuesday, January 23rd. CVS Health’s dividend payout ratio is currently 41.32%.
In related news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of CVS Health by 22.0% in the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock worth $2,425,920,000 after acquiring an additional 5,446,930 shares during the last quarter. Truepoint Inc. raised its stake in shares of CVS Health by 8,578.9% in the third quarter. Truepoint Inc. now owns 3,757,530 shares of the pharmacy operator’s stock worth $3,758,000 after acquiring an additional 3,714,235 shares during the last quarter. Boston Partners raised its stake in shares of CVS Health by 69.1% in the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock worth $519,711,000 after acquiring an additional 2,638,888 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of CVS Health by 30.2% in the third quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock worth $648,683,000 after acquiring an additional 1,849,593 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of CVS Health by 71.5% in the second quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock worth $317,805,000 after acquiring an additional 1,647,168 shares during the last quarter. 81.70% of the stock is owned by hedge funds and other institutional investors.
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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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