CVS Health (NYSE:CVS) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Friday, January 5th, Marketbeat Ratings reports. The firm currently has a $88.00 price objective on the pharmacy operator’s stock. Morgan Stanley’s price target points to a potential upside of 11.70% from the stock’s previous close.
CVS has been the subject of several other research reports. Loop Capital dropped their price target on shares of CVS Health from $83.00 to $73.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Needham & Company LLC raised their target price on shares of CVS Health from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Jefferies Group dropped their target price on shares of 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 initiated coverage on shares of CVS Health in a research report on Monday, December 4th. They issued a “buy” rating and a $90.00 target price for the company. Finally, Raymond James Financial reaffirmed a “buy” rating on shares of CVS Health in a research report on Monday, December 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $86.66.
Shares of CVS Health (CVS) traded down $0.24 on Friday, reaching $78.78. 7,096,589 shares of the company’s stock traded hands, compared to its average volume of 10,770,000. The stock has a market cap of $79,800.00, a PE ratio of 16.28, a P/E/G ratio of 1.25 and a beta of 0.90. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. CVS Health has a fifty-two week low of $66.45 and a fifty-two week high of $84.72.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The business had revenue of $46.18 billion during the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 EPS. analysts predict that CVS Health will post 5.89 earnings per share for the current fiscal year.
In related news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction 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 filing with the SEC, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CVS. KCS Wealth Advisory bought a new stake in CVS Health during the 4th quarter valued at about $355,000. CMH Wealth Management LLC increased its stake in CVS Health by 131.1% during the 4th quarter. CMH Wealth Management LLC now owns 30,425 shares of the pharmacy operator’s stock valued at $2,237,000 after purchasing an additional 17,260 shares in the last quarter. Hexavest Inc. increased its stake in CVS Health by 18.2% during the 4th quarter. Hexavest Inc. now owns 1,329,539 shares of the pharmacy operator’s stock valued at $96,392,000 after purchasing an additional 204,618 shares in the last quarter. Benson Investment Management Company Inc. bought a new stake in CVS Health during the 4th quarter valued at about $2,677,000. Finally, Lathrop Investment Management Corp increased its stake in CVS Health by 4.7% during the 4th quarter. Lathrop Investment Management Corp now owns 150,786 shares of the pharmacy operator’s stock valued at $10,932,000 after purchasing an additional 6,831 shares in the last quarter. 81.62% of the stock is owned by institutional investors.
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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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