Bank of America reiterated their buy rating on shares of CVS Health (NYSE:CVS) in a research report released on Thursday, January 3rd. They currently have a $92.00 target price on the pharmacy operator’s stock.
CVS has been the topic of a number of other reports. ValuEngine raised shares of CVS Health from a strong sell rating to a sell rating in a report on Monday, September 10th. Royal Bank of Canada raised their price target on CVS Health to $101.00 and gave the company an outperform rating in a report on Tuesday, September 18th. Wolfe Research initiated coverage on CVS Health in a report on Thursday, October 25th. They issued a peer perform rating for the company. Tigress Financial restated a buy rating on shares of CVS Health in a research note on Friday, October 26th. Finally, Morgan Stanley set a $100.00 price objective on CVS Health and gave the stock a buy rating in a research report on Wednesday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $91.98.
CVS opened at $65.81 on Thursday. CVS Health has a 12 month low of $60.14 and a 12 month high of $83.88. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.44 and a quick ratio of 1.94. The firm has a market capitalization of $67.28 billion, a PE ratio of 11.15, a P/E/G ratio of 0.79 and a beta of 1.12.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.02. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The company had revenue of $47.27 billion during the quarter, compared to the consensus estimate of $47.22 billion. During the same period in the previous year, the firm posted $1.50 EPS. CVS Health’s revenue was up 2.4% on a year-over-year basis. Research analysts expect that CVS Health will post 7.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 4th. Investors of record on Friday, January 25th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Thursday, January 24th. CVS Health’s payout ratio is currently 33.90%.
In other CVS Health news, CFO David M. Denton sold 25,159 shares of the firm’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $80.13, for a total value of $2,015,990.67. Following the sale, the chief financial officer now directly owns 403 shares in the company, valued at $32,292.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Larry J. Merlo sold 166,368 shares of the firm’s stock in a transaction dated Tuesday, January 8th. The stock was sold at an average price of $69.04, for a total value of $11,486,046.72. Following the transaction, the insider now directly owns 496,577 shares in the company, valued at approximately $34,283,676.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,756 shares of company stock valued at $14,668,815. 0.53% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in CVS. First American Trust FSB raised its holdings in CVS Health by 8.6% in the 4th quarter. First American Trust FSB now owns 75,017 shares of the pharmacy operator’s stock valued at $4,915,000 after acquiring an additional 5,935 shares during the last quarter. YHB Investment Advisors Inc. grew its stake in shares of CVS Health by 13.2% during the 4th quarter. YHB Investment Advisors Inc. now owns 100,382 shares of the pharmacy operator’s stock valued at $6,577,000 after buying an additional 11,675 shares during the period. Visionary Asset Management Inc. grew its stake in shares of CVS Health by 3.8% during the 4th quarter. Visionary Asset Management Inc. now owns 4,911 shares of the pharmacy operator’s stock valued at $322,000 after buying an additional 178 shares during the period. First Hawaiian Bank grew its stake in shares of CVS Health by 11.4% during the 4th quarter. First Hawaiian Bank now owns 45,645 shares of the pharmacy operator’s stock valued at $2,991,000 after buying an additional 4,666 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of CVS Health by 10.7% during the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,953 shares of the pharmacy operator’s stock valued at $456,000 after buying an additional 670 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.
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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