Citigroup Inc. Lowers CVS Health Corporation (CVS) Price Target to $87.00
CVS Health Corporation (NYSE:CVS) had its target price dropped by stock analysts at Citigroup Inc. from $88.00 to $87.00 in a report issued on Thursday. The brokerage presently has a “neutral” rating on the pharmacy operator’s stock. Citigroup Inc.’s target price would indicate a potential upside of 10.28% from the stock’s previous close.
A number of other research firms also recently issued reports on CVS. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 target price on shares of CVS Health Corporation in a research report on Friday, June 9th. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 target price on the stock in a research report on Wednesday, May 24th. Evercore ISI reiterated an “outperform” rating and set a $88.00 target price (up previously from $87.00) on shares of CVS Health Corporation in a research report on Wednesday, May 3rd. Cowen and Company reiterated an “outperform” rating and set a $86.00 target price on shares of CVS Health Corporation in a research report on Tuesday, June 13th. Finally, Tigress Financial started coverage on shares of CVS Health Corporation in a research report on Thursday, April 27th. They set a “buy” rating on the stock. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $91.24.
Shares of CVS Health Corporation (CVS) traded down 0.45% during midday trading on Thursday, hitting $78.89. 4,345,614 shares of the stock traded hands. The firm has a 50-day moving average price of $78.82 and a 200-day moving average price of $78.95. The stock has a market capitalization of $80.20 billion, a P/E ratio of 15.72 and a beta of 0.91. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $98.44.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. The firm had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 EPS. On average, equities analysts predict that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
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In other news, EVP Helena Foulkes sold 20,332 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $76.98, for a total value of $1,565,157.36. Following the sale, the executive vice president now directly owns 59,300 shares of the company’s stock, valued at $4,564,914. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David M. Denton sold 230,510 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the completion of the sale, the chief financial officer now directly owns 176,983 shares in the company, valued at $14,158,640. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 271,175 shares of company stock worth $21,632,597. Insiders own 0.61% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Fieldpoint Private Securities LLC increased its stake in shares of CVS Health Corporation by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after buying an additional 1,000 shares in the last quarter. Mercer Capital Advisers Inc. bought a new stake in shares of CVS Health Corporation during the first quarter worth $118,000. Gemmer Asset Management LLC increased its stake in shares of CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after buying an additional 200 shares in the last quarter. TB Alternative Assets Ltd. bought a new stake in shares of CVS Health Corporation during the second quarter worth $121,000. Finally, Captrust Financial Advisors bought a new stake in shares of CVS Health Corporation during the second quarter worth $155,000. 82.31% of the stock is currently owned by hedge funds and other institutional investors.
CVS Health Corporation 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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