CVS Health (NYSE:CVS) had its price target upped by Wells Fargo & Co from $98.00 to $104.00 in a report released on Tuesday, November 27th, The Fly reports. The brokerage currently has an “outperform” rating on the pharmacy operator’s stock. Wells Fargo & Co’s price target indicates a potential upside of 40.37% from the stock’s current price.
CVS has been the topic of several other reports. Argus boosted their price objective on shares of CVS Health to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 13th. Royal Bank of Canada set a $100.00 price target on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday, November 7th. Loop Capital set a $80.00 price target on shares of CVS Health and gave the company a “hold” rating in a research note on Friday, November 9th. Morgan Stanley set a $100.00 price target on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday, November 7th. Finally, ValuEngine upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. CVS Health presently has a consensus rating of “Buy” and an average target price of $90.69.
CVS stock traded down $2.48 during midday trading on Tuesday, reaching $74.09. The company’s stock had a trading volume of 10,555,533 shares, compared to its average volume of 9,197,469. CVS Health has a 52 week low of $60.14 and a 52 week high of $83.88. The stock has a market cap of $78.01 billion, a PE ratio of 12.56, a PEG ratio of 1.10 and a beta of 0.98. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.94 and a current ratio of 2.44.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $47.27 billion for the quarter, compared to analysts’ expectations of $47.22 billion. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.50 earnings per share. As a group, sell-side analysts predict that CVS Health will post 7.03 earnings per share for the current fiscal year.
In other news, CFO David M. Denton sold 25,159 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $80.13, for a total transaction of $2,015,990.67. Following the completion of the sale, the chief financial officer now owns 403 shares of the company’s stock, valued at approximately $32,292.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Troyen A. Brennan sold 14,229 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $82.00, for a total transaction of $1,166,778.00. The disclosure for this sale can be found here. Insiders sold a total of 74,233 shares of company stock valued at $5,932,565 in the last three months. Insiders own 0.53% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Kaizen Advisory LLC boosted its stake in CVS Health by 141.0% during the second quarter. Kaizen Advisory LLC now owns 2,304 shares of the pharmacy operator’s stock worth $148,000 after acquiring an additional 1,348 shares in the last quarter. Boston Family Office LLC lifted its stake in shares of CVS Health by 4.1% in the second quarter. Boston Family Office LLC now owns 115,747 shares of the pharmacy operator’s stock valued at $7,448,000 after buying an additional 4,607 shares in the last quarter. Lincoln Capital Corp bought a new position in shares of CVS Health in the second quarter valued at $1,300,000. K.J. Harrison & Partners Inc lifted its stake in shares of CVS Health by 42.6% in the second quarter. K.J. Harrison & Partners Inc now owns 7,808 shares of the pharmacy operator’s stock valued at $502,000 after buying an additional 2,333 shares in the last quarter. Finally, Nichols & Pratt Advisers LLP MA lifted its stake in shares of CVS Health by 1.3% in the second quarter. Nichols & Pratt Advisers LLP MA now owns 221,331 shares of the pharmacy operator’s stock valued at $14,242,000 after buying an additional 2,921 shares in the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.
About CVS Health
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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