Robert W. Baird Trims CVS Health (CVS) Target Price to $80.00
CVS Health (NYSE:CVS) had its price objective lowered by stock analysts at Robert W. Baird from $85.00 to $80.00 in a note issued to investors on Friday. The brokerage presently has a “neutral” rating on the pharmacy operator’s stock. Robert W. Baird’s price objective indicates a potential upside of 15.29% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada set a $89.00 target price on shares of CVS Health and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC set a $98.00 target price on shares of CVS Health and gave the company a “buy” rating in a report on Friday. ValuEngine cut shares of CVS Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Mizuho set a $95.00 target price on shares of CVS Health and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Cowen reissued an “outperform” rating and set a $99.00 target price (up previously from $81.00) on shares of CVS Health in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. CVS Health has an average rating of “Buy” and an average price target of $87.77.
Shares of CVS Health (CVS) opened at $69.39 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. CVS Health has a 1-year low of $66.45 and a 1-year high of $84.00. The stock has a market cap of $70,291.52, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 1.16 and a beta of 0.93.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 15,556 shares in the company, valued at $1,166,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in CVS. Arrowstreet Capital Limited Partnership grew its position in CVS Health by 7,225.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,871,164 shares of the pharmacy operator’s stock worth $498,159,000 after acquiring an additional 6,777,364 shares in the last quarter. American International Group Inc. grew its position in CVS Health by 1,342.0% in the fourth quarter. American International Group Inc. now owns 7,081,461 shares of the pharmacy operator’s stock worth $513,406,000 after acquiring an additional 6,590,370 shares in the last quarter. FMR LLC grew its position in 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 in the last quarter. Truepoint Inc. grew its position in 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 in the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in CVS Health during the fourth quarter valued at about $211,243,000. Institutional investors own 81.69% of the company’s stock.
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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