CVS Health Corporation (CVS) Upgraded to “Buy” by Vetr Inc.
CVS Health Corporation (NYSE:CVS) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage presently has a $94.49 target price on the pharmacy operator’s stock. Vetr‘s target price points to a potential upside of 8.82% from the stock’s previous close.
Several other analysts have also recently weighed in on the company. Morgan Stanley cut CVS Health Corporation from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $111.00 to $104.00 in a report on Monday, June 20th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $110.00 price target (down previously from $115.00) on shares of CVS Health Corporation in a report on Tuesday, October 4th. Robert W. Baird lowered their price target on CVS Health Corporation from $114.00 to $104.00 and set an “outperform” rating on the stock in a report on Monday, October 3rd. Leerink Swann reaffirmed an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of CVS Health Corporation in a report on Sunday, October 2nd. Finally, Jefferies Group reaffirmed a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 4th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $112.40.
CVS Health Corporation (NYSE:CVS) traded up 0.50% on Monday, hitting $86.83. 5,342,674 shares of the stock traded hands. The firm has a market cap of $92.58 billion, a price-to-earnings ratio of 19.97 and a beta of 0.83. CVS Health Corporation has a 12-month low of $85.89 and a 12-month high of $106.67. The stock has a 50-day moving average of $91.12 and a 200-day moving average of $96.74.
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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 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.02. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The firm had revenue of $43.70 billion for the quarter, compared to analysts’ expectations of $44.28 billion. During the same quarter last year, the firm posted $1.19 EPS. The company’s revenue was up 17.6% compared to the same quarter last year. Analysts forecast that CVS Health Corporation will post $5.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 3rd. Shareholders of record on Monday, October 24th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, October 20th. CVS Health Corporation’s payout ratio is 39.08%.
A number of hedge funds and other institutional investors have recently made changes to their positions in CVS. Acrospire Investment Management LLC boosted its position in shares of 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 worth $102,000 after buying an additional 900 shares during the last quarter. Springbok Capital Management LLC boosted 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 boosted 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. boosted 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. boosted 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. Institutional investors and hedge funds own 80.95% of the company’s stock.
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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