CVS Health (NYSE:CVS)‘s stock had its “buy” rating reiterated by analysts at Cantor Fitzgerald in a research report issued on Thursday, January 3rd. They currently have a $96.00 price objective on the pharmacy operator’s stock. Cantor Fitzgerald’s price target points to a potential upside of 45.87% from the stock’s previous close.
The analysts wrote, “We rate shares of CVS Health Corp. (CVS) Overweight. The company has one the largest PBMs in the U.S. and a nationally recognized retail brand. We believe the acquisition of AET adds value, as the addition of AET’s clinical expertise and capabilities should allow the combined company to transform MinuteClinic into a “healthcare hub” and reduce cost of care by shifting patients to lower cost CVS-owned settings. We believe the risk/reward tradeoff is compelling at current levels. Valuation Summary Our price target is $96, which is DCF-based.””
Other equities analysts have also recently issued research reports about the company. Bank of America boosted their price objective on CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 17th. Royal Bank of Canada set a $99.00 price target on CVS Health and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Morgan Stanley set a $100.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research report on Wednesday, November 7th. Tigress Financial reiterated a “buy” rating on shares of CVS Health in a research report on Friday, October 26th. Finally, Argus boosted their price objective on shares of CVS Health to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $91.98.
Shares of CVS Health stock opened at $65.81 on Thursday. The company has a market capitalization of $67.28 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. CVS Health has a fifty-two week low of $60.14 and a fifty-two week high of $83.88. The company has a quick ratio of 1.94, a current ratio of 2.44 and a debt-to-equity ratio of 1.66.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. The firm had revenue of $47.27 billion during the quarter, compared to the consensus estimate of $47.22 billion. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.50 EPS. Equities research analysts predict that CVS Health will post 7.04 EPS for the current year.
In other CVS Health news, insider Larry J. Merlo sold 166,368 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 496,577 shares in the company, valued at $34,283,676.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David M. Denton sold 25,159 shares of the business’s stock in a transaction that occurred 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 approximately $32,292.39. The disclosure for this sale can be found here. Insiders have sold 205,756 shares of company stock valued at $14,668,815 in the last three months. Insiders own 0.53% of the company’s stock.
A number of large investors have recently bought and sold shares of CVS. Dodge & Cox acquired a new stake in shares of CVS Health in the 3rd quarter valued at about $1,190,694,000. Capital International Investors raised its stake in shares of CVS Health by 5,579.8% in the 3rd quarter. Capital International Investors now owns 9,161,488 shares of the pharmacy operator’s stock valued at $721,192,000 after purchasing an additional 9,000,188 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of CVS Health in the 3rd quarter valued at about $204,536,000. BlackRock Inc. raised its stake in CVS Health by 2.8% during the third quarter. BlackRock Inc. now owns 76,197,017 shares of the pharmacy operator’s stock worth $5,998,231,000 after acquiring an additional 2,061,915 shares during the period. Finally, Morgan Stanley raised its stake in CVS Health by 28.4% during the second quarter. Morgan Stanley now owns 8,358,263 shares of the pharmacy operator’s stock worth $537,854,000 after acquiring an additional 1,848,678 shares during the period. 84.46% of the stock is owned by institutional investors.
CVS Health Company Profile
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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