Vetr Inc. Downgrades CVS Health Corporation (CVS) to Hold
CVS Health Corporation (NYSE:CVS) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday. They presently have a $87.73 price target on the pharmacy operator’s stock. Vetr‘s target price would indicate a potential upside of 1.54% from the stock’s current price.
CVS has been the subject of several other reports. Mizuho increased their price target on shares of CVS Health Corporation from $108.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Citigroup Inc. cut their price objective on shares of CVS Health Corporation from $115.00 to $108.00 and set a “neutral” rating on the stock in a report on Monday, August 8th. Morgan Stanley downgraded shares of CVS Health Corporation from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $111.00 to $104.00 in a report on Monday, June 20th. Leerink Swann restated a “buy” rating on shares of CVS Health Corporation in a report on Wednesday, August 3rd. Finally, Credit Suisse Group AG restated a “buy” rating and set a $115.00 price objective on shares of CVS Health Corporation in a report on Tuesday, September 20th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. CVS Health Corporation currently has an average rating of “Buy” and a consensus price target of $112.11.
CVS Health Corporation (NYSE:CVS) opened at 86.40 on Thursday. CVS Health Corporation has a 12-month low of $85.89 and a 12-month high of $106.67. The stock has a market cap of $92.12 billion, a P/E ratio of 19.88 and a beta of 0.83. The company has a 50 day moving average of $91.41 and a 200-day moving average of $96.91.
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CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.02. The business earned $43.70 billion during the quarter, compared to analyst estimates of $44.28 billion. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 earnings per share. Equities analysts forecast that CVS Health Corporation will post $5.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 3rd. Investors of record on Monday, October 24th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, October 20th. CVS Health Corporation’s payout ratio is 39.08%.
Hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC increased its position in CVS Health Corporation by 542.2% in the second quarter. Acrospire Investment Management LLC now owns 1,066 shares of the pharmacy operator’s stock valued at $102,000 after buying an additional 900 shares in the last quarter. Springbok Capital Management LLC increased its position in CVS Health Corporation by 190.5% in the first quarter. Springbok Capital Management LLC now owns 1,130 shares of the pharmacy operator’s stock valued at $117,000 after buying an additional 741 shares in the last quarter. Pinkerton Retirement Specialists LLC increased its position in CVS Health Corporation by 3,475.0% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,144 shares of the pharmacy operator’s stock valued at $110,000 after buying an additional 1,112 shares in the last quarter. MU Investments Co. Ltd. increased its position in CVS Health Corporation by 62.0% in the second quarter. MU Investments Co. Ltd. now owns 1,150 shares of the pharmacy operator’s stock valued at $109,000 after buying an additional 440 shares in the last quarter. Finally, D Orazio & Associates Inc. increased its position in CVS Health Corporation by 9.4% in the second quarter. D Orazio & Associates Inc. now owns 1,160 shares of the pharmacy operator’s stock valued at $111,000 after buying an additional 100 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.
To view Vetr’s full report, visit Vetr’s official website.
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