CVS Health Corporation (CVS) Given a $85.00 Price Target by SunTrust Banks, Inc. Analysts
CVS Health Corporation (NYSE:CVS) has been given a $85.00 target price by research analysts at SunTrust Banks, Inc. in a research note issued on Thursday. The brokerage presently has a “buy” rating on the pharmacy operator’s stock. SunTrust Banks, Inc.’s price objective indicates a potential upside of 17.08% from the stock’s current price.
Several other analysts have also recently commented on CVS. BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health Corporation in a research report on Thursday. Citigroup Inc. decreased their target price on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $82.00 target price on shares of CVS Health Corporation in a research report on Friday, July 14th. Finally, Wolfe Research cut CVS Health Corporation from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $89.00 to $82.00 in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $90.23.
CVS Health Corporation (NYSE:CVS) traded up 0.7815% during trading on Thursday, reaching $73.1674. The company had a trading volume of 706,409 shares. The company has a 50-day moving average price of $79.27 and a 200 day moving average price of $78.87. The stock has a market cap of $74.38 billion, a PE ratio of 14.5752 and a beta of 0.92. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $88.84.
CVS Health Corporation (NYSE:CVS) last issued its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The business had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. CVS Health Corporation’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 earnings per share. On average, analysts anticipate that CVS Health Corporation will post $5.88 earnings per share for the current year.
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In other CVS Health Corporation news, CFO David M. Denton sold 237,078 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the transaction, the chief financial officer now directly owns 141,096 shares in the company, valued at $11,238,296.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.14, for a total value of $7,128,673.02. Following the transaction, the chief operating officer now owns 119,555 shares in the company, valued at $9,939,802.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 716,625 shares of company stock worth $58,318,431. Corporate insiders own 0.61% of the company’s stock.
Several institutional investors have recently bought and sold shares of CVS. CGOV Asset Management increased its stake in shares of CVS Health Corporation by 0.3% in the first quarter. CGOV Asset Management now owns 1,148,337 shares of the pharmacy operator’s stock worth $120,090,000 after purchasing an additional 3,466 shares during the period. Waldron LP increased its stake in shares of CVS Health Corporation by 217.4% in the first quarter. Waldron LP now owns 10,633 shares of the pharmacy operator’s stock worth $835,000 after purchasing an additional 7,283 shares during the period. YCG LLC increased its stake in shares of CVS Health Corporation by 21.5% in the first quarter. YCG LLC now owns 79,707 shares of the pharmacy operator’s stock worth $6,257,000 after purchasing an additional 14,123 shares during the period. DUPONT CAPITAL MANAGEMENT Corp increased its stake in shares of CVS Health Corporation by 125.4% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 281,005 shares of the pharmacy operator’s stock worth $22,059,000 after purchasing an additional 156,338 shares during the period. Finally, Mercer Capital Advisers Inc. bought a new position in shares of CVS Health Corporation in the first quarter worth about $118,000. Institutional investors and hedge funds own 81.46% of the company’s stock.
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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