CVS Health (CVS) Price Target Increased to $100.00 by Analysts at Argus

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CVS Health (NYSE:CVS) had its price target raised by Argus to $100.00 in a research report released on Tuesday morning, The Fly reports. They currently have a buy rating on the pharmacy operator’s stock.

Several other equities research analysts have also recently issued reports on CVS. Leerink Swann boosted their price target on CVS Health from $85.00 to $95.00 and gave the company a positive rating in a research note on Thursday, November 8th. Morgan Stanley set a $100.00 price target on CVS Health and gave the company a buy rating in a research note on Wednesday, November 7th. Wolfe Research began coverage on CVS Health in a research note on Thursday, October 25th. They issued a peer perform rating for the company. Royal Bank of Canada set a $99.00 price target on CVS Health and gave the company a buy rating in a research note on Tuesday, October 23rd. Finally, ValuEngine cut CVS Health from a sell rating to a strong sell rating in a research note on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $90.04.

Shares of NYSE:CVS opened at $80.80 on Tuesday. CVS Health has a 12-month low of $60.14 and a 12-month high of $83.88. The company has a market cap of $81.85 billion, a PE ratio of 13.69, a PEG ratio of 1.07 and a beta of 0.98. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.44 and a quick ratio of 1.94.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $47.22 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that CVS Health will post 7.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.48%. The ex-dividend date was Tuesday, October 23rd. CVS Health’s payout ratio is presently 33.90%.

In other CVS Health news, EVP Lisa Bisaccia sold 21,534 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,722,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eva C. Boratto sold 13,311 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.16, for a total value of $1,027,076.76. Following the sale, the executive vice president now owns 55,162 shares of the company’s stock, valued at $4,256,299.92. The disclosure for this sale can be found here. Insiders have sold 43,409 shares of company stock valued at $3,392,097 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hayek Kallen Investment Management increased its holdings in shares of CVS Health by 5.0% during the third quarter. Hayek Kallen Investment Management now owns 13,567 shares of the pharmacy operator’s stock worth $844,000 after buying an additional 641 shares in the last quarter. Trust Co. of Toledo NA OH increased its holdings in CVS Health by 3.5% in the third quarter. Trust Co. of Toledo NA OH now owns 19,653 shares of the pharmacy operator’s stock valued at $1,548,000 after purchasing an additional 661 shares during the period. Intersect Capital LLC increased its holdings in CVS Health by 6.1% in the third quarter. Intersect Capital LLC now owns 11,622 shares of the pharmacy operator’s stock valued at $915,000 after purchasing an additional 665 shares during the period. Assetmark Inc. increased its holdings in CVS Health by 14.3% in the third quarter. Assetmark Inc. now owns 5,319 shares of the pharmacy operator’s stock valued at $419,000 after purchasing an additional 665 shares during the period. Finally, Kiley Juergens Wealth Management LLC increased its holdings in CVS Health by 41.5% in the third quarter. Kiley Juergens Wealth Management LLC now owns 2,270 shares of the pharmacy operator’s stock valued at $178,000 after purchasing an additional 666 shares during the period. Hedge funds and other institutional investors own 82.55% of the company’s stock.

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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