Raymond James Financial upgraded shares of CVS Health (NYSE:CVS) from an outperform rating to a strong-buy rating in a research report sent to investors on Thursday, January 4th, MarketBeat.com reports. They currently have $90.00 target price on the pharmacy operator’s stock. The analysts noted that the move was a valuation call.
CVS has been the subject of several other research reports. Loop Capital decreased their price target on CVS Health from $83.00 to $73.00 and set a hold rating for the company in a research note on Tuesday, November 7th. Needham & Company LLC upped their price target on CVS Health from $85.00 to $88.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. Jefferies Group cut their price objective on CVS Health from $86.00 to $76.00 and set a hold rating for the company in a research report on Tuesday, November 7th. Deutsche Bank assumed coverage on CVS Health in a research report on Monday, December 4th. They set a buy rating and a $90.00 price objective for the company. Finally, Oppenheimer reissued a buy rating and set a $95.00 price objective on shares of CVS Health in a research report on Monday, October 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $86.66.
CVS Health (NYSE:CVS) traded up $1.58 on Thursday, hitting $79.02. The stock had a trading volume of 7,158,100 shares, compared to its average volume of 9,296,125. The company has a market cap of $79,970.00, a P/E ratio of 16.33, a PEG ratio of 1.38 and a beta of 0.90. CVS Health has a 52 week low of $66.45 and a 52 week high of $84.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 EPS. research analysts predict that CVS Health will post 5.9 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.53%. CVS Health’s payout ratio is presently 41.32%.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.61% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. grew its position in CVS Health by 0.6% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock worth $232,000 after acquiring an additional 18 shares during the last quarter. Elefante Mark B grew its position in CVS Health by 0.7% during the 2nd quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock worth $515,000 after acquiring an additional 45 shares during the last quarter. Traynor Capital Management Inc. grew its position in CVS Health by 1.3% during the 2nd quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock worth $290,000 after acquiring an additional 48 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in CVS Health by 0.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock worth $515,000 after acquiring an additional 53 shares during the last quarter. Finally, Brookstone Capital Management grew its position in CVS Health by 1.8% during the 2nd quarter. Brookstone Capital Management now owns 3,153 shares of the pharmacy operator’s stock worth $254,000 after acquiring an additional 55 shares during the last quarter. 81.62% of the stock is owned by institutional investors and hedge funds.
CVS Health Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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