CVS Health Corporation’s (CVS) “Buy” Rating Reaffirmed at Credit Suisse Group AG
CVS Health Corporation (NYSE:CVS)‘s stock had its “buy” rating reissued by research analysts at Credit Suisse Group AG in a research note issued to investors on Tuesday. They currently have a $115.00 target price on the pharmacy operator’s stock. Credit Suisse Group AG’s price target points to a potential upside of 28.97% from the company’s previous close.
A number of other analysts have also recently issued reports on CVS. Leerink Swann restated a “buy” rating on shares of CVS Health Corporation in a research note on Friday, June 10th. FBR & Co restated an “outperform” rating and set a $120.00 target price on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Deutsche Bank AG raised their target price on shares of CVS Health Corporation from $99.00 to $108.00 and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Finally, Morgan Stanley restated a “hold” rating and set a $104.00 target price on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. CVS Health Corporation presently has a consensus rating of “Buy” and an average target price of $113.02.
Shares of CVS Health Corporation (NYSE:CVS) opened at 89.17 on Tuesday. The company has a market cap of $95.07 billion, a PE ratio of 20.51 and a beta of 0.84. The company has a 50-day moving average of $94.74 and a 200-day moving average of $98.04. CVS Health Corporation has a 1-year low of $86.50 and a 1-year high of $106.67.
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CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, August 2nd. The pharmacy operator reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.02. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The company earned $43.70 billion during the quarter, compared to the consensus estimate of $44.28 billion. During the same quarter last year, the firm posted $1.19 EPS. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Equities analysts forecast that CVS Health Corporation will post $5.86 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVS. Macquarie Group Ltd. increased its position in CVS Health Corporation by 9.7% in the second quarter. Macquarie Group Ltd. now owns 7,707,523 shares of the pharmacy operator’s stock worth $737,919,000 after buying an additional 682,784 shares during the last quarter. Carnick & Kubik Group LLC bought a new position in CVS Health Corporation during the second quarter worth about $1,861,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in CVS Health Corporation during the second quarter worth about $4,152,000. Kentucky Retirement Systems bought a new position in CVS Health Corporation during the second quarter worth about $8,744,000. Finally, Mason Street Advisors LLC bought a new position in CVS Health Corporation during the second quarter worth about $13,850,000. Institutional investors own 81.08% of the company’s stock.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names.
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