CVS Health (NYSE:CVS) had its price target reduced by equities research analysts at Bank of America from $91.00 to $88.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the pharmacy operator’s stock. Bank of America’s price target suggests a potential upside of 37.50% from the company’s current price.
Other analysts also recently issued research reports about the company. Needham & Company LLC set a $98.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Friday, February 9th. ValuEngine downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Leerink Swann set a $85.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Friday, February 9th. Vetr downgraded CVS Health from a “hold” rating to a “sell” rating and set a $76.66 target price for the company. in a research report on Tuesday, January 16th. Finally, Citigroup set a $77.00 target price on CVS Health and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $86.65.
NYSE:CVS opened at $64.00 on Wednesday. The company has a market capitalization of $63,986.53, a P/E ratio of 10.65, a PEG ratio of 1.04 and a beta of 1.05. CVS Health has a 1-year low of $60.14 and a 1-year high of $84.00. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.
CVS Health (NYSE:CVS) last released its earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.04. The company had revenue of $48.39 billion during the quarter, compared to the consensus estimate of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. CVS Health’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS. equities analysts forecast that CVS Health will post 6.31 EPS for the current fiscal year.
In other CVS Health news, EVP Helena Foulkes sold 19,965 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $71.04, for a total value of $1,418,313.60. Following the completion of the sale, the executive vice president now owns 65,072 shares in the company, valued at $4,622,714.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CVS. BlackRock Inc. increased its stake in shares of CVS Health by 3.8% during the fourth quarter. BlackRock Inc. now owns 66,996,510 shares of the pharmacy operator’s stock valued at $4,857,249,000 after buying an additional 2,430,476 shares during the period. Geode Capital Management LLC increased its stake in shares of CVS Health by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 10,868,331 shares of the pharmacy operator’s stock valued at $786,322,000 after buying an additional 235,357 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of CVS Health by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock valued at $882,860,000 after buying an additional 430,377 shares during the period. Bank of New York Mellon Corp increased its stake in shares of CVS Health by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 10,705,490 shares of the pharmacy operator’s stock valued at $776,147,000 after buying an additional 126,183 shares during the period. Finally, Macquarie Group Ltd. increased its stake in shares of CVS Health by 4.7% during the fourth quarter. Macquarie Group Ltd. now owns 9,219,365 shares of the pharmacy operator’s stock valued at $668,688,000 after buying an additional 414,086 shares during the period. Hedge funds and other institutional investors own 83.97% of the company’s stock.
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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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