CVS Health (NYSE:CVS)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, The Fly reports. They presently have a $80.00 target price on the pharmacy operator’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 24.57% from the stock’s previous close.
A number of other research analysts also recently weighed in on the company. Wells Fargo & Co downgraded CVS Health from an “outperform” rating to a “market perform” rating and cut their price target for the company from $104.00 to $68.00 in a research note on Wednesday. ValuEngine downgraded CVS Health from a “sell” rating to a “strong sell” rating in a research note on Saturday, February 2nd. UBS Group assumed coverage on CVS Health in a research note on Thursday, January 17th. They set a “buy” rating and a $75.00 price objective on the stock. Bank of America reaffirmed a “buy” rating and set a $92.00 price objective on shares of CVS Health in a research note on Thursday, January 3rd. Finally, Barclays assumed coverage on CVS Health in a research note on Tuesday, December 18th. They set an “overweight” rating and a $91.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $88.07.
CVS stock opened at $64.22 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.94 and a current ratio of 2.44. The firm has a market capitalization of $71.19 billion, a PE ratio of 10.88, a P/E/G ratio of 0.94 and a beta of 1.03. CVS Health has a twelve month low of $60.14 and a twelve month high of $82.15.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.09. The company had revenue of $54.42 billion for the quarter, compared to the consensus estimate of $53.78 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.92 EPS. On average, analysts expect that CVS Health will post 6.98 earnings per share for the current fiscal year.
In other news, COO Jonathan C. Roberts sold 77,639 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $64.54, for a total value of $5,010,821.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David M. Denton sold 25,159 shares of the firm’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $80.13, for a total value of $2,015,990.67. Following the completion of the transaction, the chief financial officer now owns 403 shares of the company’s stock, valued at approximately $32,292.39. The disclosure for this sale can be found here. In the last quarter, insiders have sold 435,534 shares of company stock valued at $29,245,258. Corporate insiders own 0.53% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bell Rock Capital LLC grew its holdings in CVS Health by 764.0% during the fourth quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 382 shares during the period. Daiwa SB Investments Ltd. bought a new position in CVS Health during the fourth quarter worth about $30,000. Acima Private Wealth LLC bought a new position in CVS Health during the fourth quarter worth about $33,000. Murphy Pohlad Asset Management LLC bought a new position in CVS Health during the fourth quarter worth about $39,000. Finally, Cornerstone Advisors Inc. grew its holdings in CVS Health by 71.6% during the third quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock worth $40,000 after purchasing an additional 212 shares during the period. Institutional investors own 90.60% of the company’s stock.
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.
See Also: Certificate of Deposit (CD)
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