CVS Health (NYSE:CVS) had its price target raised by Robert W. Baird from $70.00 to $73.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the pharmacy operator’s stock. Robert W. Baird’s price target suggests a potential downside of 1.02% from the stock’s current price.
Several other analysts have also recently weighed in on the company. Raymond James reaffirmed a “strong-buy” rating and set a $90.00 price objective (up from $80.00) on shares of CVS Health in a research report on Wednesday, December 4th. ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a research report on Friday, January 24th. Cfra lifted their price objective on CVS Health from $85.00 to $86.00 and gave the company a “strong-buy” rating in a research report on Wednesday. Cowen set a $76.00 price objective on CVS Health and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, SunTrust Banks lifted their price objective on CVS Health to $85.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. CVS Health has a consensus rating of “Buy” and an average target price of $78.35.
NYSE CVS opened at $73.75 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.61. The stock has a market capitalization of $95.30 billion, a PE ratio of 21.82, a PEG ratio of 1.56 and a beta of 0.93. CVS Health has a 1 year low of $51.72 and a 1 year high of $77.03. The business’s 50-day moving average is $72.72 and its 200 day moving average is $67.49.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The company had revenue of $66.89 billion for the quarter, compared to analysts’ expectations of $64.01 billion. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. CVS Health’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm earned $2.14 earnings per share. As a group, equities research analysts anticipate that CVS Health will post 7.03 earnings per share for the current year.
In other news, COO Jonathan C. Roberts sold 57,563 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $72.63, for a total value of $4,180,800.69. Following the sale, the chief operating officer now directly owns 102,608 shares of the company’s stock, valued at approximately $7,452,419.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Larry J. Merlo sold 266,476 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $74.79, for a total value of $19,929,740.04. Following the completion of the sale, the chief executive officer now directly owns 703,497 shares in the company, valued at $52,614,540.63. The disclosure for this sale can be found here. Over the last three months, insiders sold 404,182 shares of company stock worth $30,121,266. Insiders own 0.53% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CVS. LSV Asset Management boosted its position in shares of CVS Health by 95.5% in the 4th quarter. LSV Asset Management now owns 3,464,021 shares of the pharmacy operator’s stock worth $257,342,000 after purchasing an additional 1,692,449 shares in the last quarter. M&G Investment Management Ltd. purchased a new position in CVS Health in the 4th quarter worth approximately $79,201,000. Parnassus Investments CA raised its holdings in CVS Health by 14.1% in the 3rd quarter. Parnassus Investments CA now owns 8,261,294 shares of the pharmacy operator’s stock worth $521,040,000 after acquiring an additional 1,020,904 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in CVS Health by 68.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,031,168 shares of the pharmacy operator’s stock worth $150,894,000 after acquiring an additional 828,231 shares during the last quarter. Finally, Haverford Trust Co. raised its holdings in CVS Health by 41.4% in the 3rd quarter. Haverford Trust Co. now owns 2,231,574 shares of the pharmacy operator’s stock worth $140,745,000 after acquiring an additional 652,905 shares during the last quarter. 76.69% of the stock is currently owned by hedge funds and other institutional investors.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
Recommended Story: What is the S&P/ASX 200 Index?
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.