CVS Health (NYSE:CVS) had its price objective lifted by Citigroup from $72.00 to $83.00 in a report released on Thursday morning, The Fly reports. They currently have a buy rating on the pharmacy operator’s stock. The analysts noted that the move was a valuation call.
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Other analysts have also issued research reports about the stock. Evercore ISI set a $63.00 price objective on shares of CVS Health and gave the stock a buy rating in a research report on Wednesday, August 7th. Cowen set a $76.00 price objective on shares of CVS Health and gave the stock a buy rating in a research report on Monday, October 21st. Morgan Stanley lifted their price objective on shares of CVS Health from $74.00 to $77.00 and gave the stock an overweight rating in a research report on Thursday, September 26th. Royal Bank of Canada initiated coverage on shares of CVS Health in a research report on Friday, September 27th. They issued an outperform rating and a $85.00 price objective on the stock. Finally, Deutsche Bank initiated coverage on shares of CVS Health in a research report on Thursday, September 12th. They issued a buy rating and a $91.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $77.59.
CVS stock traded up $0.69 during mid-day trading on Thursday, hitting $72.47. The company had a trading volume of 9,079,719 shares, compared to its average volume of 6,966,567. The firm has a market cap of $87.55 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95. CVS Health has a 12 month low of $51.72 and a 12 month high of $82.15. The stock’s fifty day moving average price is $64.66 and its two-hundred day moving average price is $58.54.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, topping the consensus estimate of $1.77 by $0.07. The business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The company’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Equities analysts anticipate that CVS Health will post 6.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 24th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 28.25%.
In related news, CFO Eva C. Boratto sold 8,130 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $65.00, for a total transaction of $528,450.00. Following the completion of the transaction, the chief financial officer now owns 55,273 shares of the company’s stock, valued at $3,592,745. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Troyen A. Brennan sold 23,604 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the transaction, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at approximately $7,338,628. The disclosure for this sale can be found here. In the last three months, insiders sold 49,437 shares of company stock worth $3,248,811. Insiders own 0.53% of the company’s stock.
Large investors have recently modified their holdings of the stock. Haverford Trust Co. grew its stake in CVS Health by 3.0% during the second quarter. Haverford Trust Co. now owns 1,578,669 shares of the pharmacy operator’s stock valued at $86,022,000 after acquiring an additional 46,182 shares in the last quarter. First Heartland Consultants Inc. grew its stake in CVS Health by 1.9% in the 2nd quarter. First Heartland Consultants Inc. now owns 29,437 shares of the pharmacy operator’s stock worth $1,604,000 after buying an additional 543 shares in the last quarter. Berkeley Capital Partners LLC grew its stake in CVS Health by 8.1% in the 2nd quarter. Berkeley Capital Partners LLC now owns 18,337 shares of the pharmacy operator’s stock worth $999,000 after buying an additional 1,380 shares in the last quarter. Corient Capital Partners LLC grew its stake in CVS Health by 9.5% in the 2nd quarter. Corient Capital Partners LLC now owns 33,113 shares of the pharmacy operator’s stock worth $1,804,000 after buying an additional 2,872 shares in the last quarter. Finally, Nepsis Inc. purchased a new position in CVS Health in the 2nd quarter worth approximately $5,897,000. 76.17% of the stock is owned by institutional investors.
CVS Health Company Profile
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.