CVS Health (NYSE:CVS) Price Target Raised to $73.00 at Robert W. Baird
CVS Health (NYSE:CVS) had its target price boosted by Robert W. Baird from $70.00 to $73.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the pharmacy operator’s stock.
A number of other research analysts have also recently weighed in on CVS. ValuEngine upgraded CVS Health from a strong sell rating to a sell rating in a research report on Friday, January 24th. Cfra raised their price target on CVS Health from $85.00 to $86.00 and gave the company a strong-buy rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on CVS Health from $88.00 to $97.00 and gave the company an overweight rating in a research report on Thursday, December 19th. Raymond James restated a strong-buy rating and issued a $90.00 price target (up previously from $80.00) on shares of CVS Health in a research report on Wednesday, December 4th. Finally, Mizuho raised their price target on CVS Health from $71.00 to $82.00 and gave the company a buy rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $78.48.
NYSE:CVS traded down $0.63 during trading hours on Thursday, hitting $71.37. The company’s stock had a trading volume of 7,652,732 shares, compared to its average volume of 7,157,139. The business’s 50-day moving average is $72.66 and its two-hundred day moving average is $67.66. The company has a market capitalization of $95.30 billion, a PE ratio of 21.12, a PEG ratio of 1.56 and a beta of 0.93. 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 52-week low of $51.72 and a 52-week high of $77.03.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Wednesday, January 22nd. CVS Health’s payout ratio is currently 28.25%.
In related news, CEO Larry J. Merlo sold 266,476 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $74.79, for a total transaction of $19,929,740.04. Following the sale, the chief executive officer now owns 703,497 shares of the company’s stock, valued at $52,614,540.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan C. Roberts sold 57,563 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $72.63, for a total value of $4,180,800.69. Following the sale, the chief operating officer now directly owns 102,608 shares in the company, valued at approximately $7,452,419.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 404,182 shares of company stock worth $30,121,266. Corporate insiders own 0.53% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in CVS Health by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,897,473 shares of the pharmacy operator’s stock worth $883,864,000 after buying an additional 220,868 shares during the last quarter. Parnassus Investments CA boosted its stake in CVS Health by 1.4% in the 4th quarter. Parnassus Investments CA now owns 8,372,832 shares of the pharmacy operator’s stock worth $622,017,000 after buying an additional 111,538 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in CVS Health by 7.1% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 5,515,102 shares of the pharmacy operator’s stock worth $347,837,000 after buying an additional 364,422 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in CVS Health by 1.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,007,181 shares of the pharmacy operator’s stock worth $371,983,000 after buying an additional 83,277 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in CVS Health by 3.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 4,404,359 shares of the pharmacy operator’s stock worth $327,200,000 after buying an additional 130,785 shares during the last quarter. 76.69% of the stock is currently owned by hedge funds and other 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.
Read More: Price to Earnings Ratio (PE) Basics
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