CVS Health Corp (CVS) PT Lowered to $74.00 at Citigroup Inc
CVS Health Corp (NYSE:CVS) had its price objective dropped by Citigroup Inc from $87.00 to $74.00 in a research report issued on Friday. The firm presently has a “neutral” rating on the pharmacy operator’s stock. Citigroup Inc’s target price would suggest a potential upside of 6.86% from the company’s current price.
A number of other research firms also recently issued reports on CVS. Royal Bank Of Canada assumed coverage on shares of CVS Health Corp in a research report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 target price for the company. Jefferies Group LLC increased their target price on shares of CVS Health Corp from $82.00 to $86.00 and gave the stock a “hold” rating in a research report on Friday, September 15th. BidaskClub raised shares of CVS Health Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of CVS Health Corp in a research report on Sunday, September 10th. Finally, Wolfe Research downgraded shares of CVS Health Corp from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $89.00 to $82.00 in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. CVS Health Corp currently has a consensus rating of “Buy” and an average target price of $87.33.
CVS Health Corp (NYSE:CVS) traded up $0.25 during midday trading on Friday, hitting $69.25. 9,853,397 shares of the stock were exchanged, compared to its average volume of 8,290,000. CVS Health Corp has a one year low of $68.01 and a one year high of $84.72. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.56 and a current ratio of 1.09. The firm has a market cap of $70.40 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.26 and a beta of 0.86.
CVS Health Corp (NYSE:CVS) last posted its 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 during the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corp had a net margin of 2.93% and a return on equity of 17.47%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 EPS. analysts expect that CVS Health Corp will post 5.88 EPS for the current fiscal year.
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In related news, Director Richard J. Swift sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the transaction, the director now directly owns 3,258 shares in the company, valued at $259,401.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David M. Denton sold 237,078 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.65, for a total value of $18,883,262.70. Following the transaction, the chief financial officer now owns 141,096 shares in the company, valued at $11,238,296.40. The disclosure for this sale can be found here. Insiders have sold 716,625 shares of company stock worth $58,318,431 over the last 90 days. 0.61% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in CVS Health Corp by 1.4% during the second quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock worth $6,159,825,000 after purchasing an additional 1,056,265 shares during the last quarter. FMR LLC lifted its stake in CVS Health Corp by 22.0% during the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock worth $2,425,920,000 after purchasing an additional 5,446,930 shares during the last quarter. Bank of America Corp DE lifted its stake in CVS Health Corp by 1.8% during the first quarter. Bank of America Corp DE now owns 22,411,957 shares of the pharmacy operator’s stock worth $1,759,338,000 after purchasing an additional 398,999 shares during the last quarter. Northern Trust Corp lifted its stake in CVS Health Corp by 5.5% during the second quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock worth $1,256,631,000 after purchasing an additional 807,639 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in CVS Health Corp by 8.4% during the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock worth $1,138,905,000 after purchasing an additional 1,100,373 shares during the last quarter. Hedge funds and other institutional investors own 81.64% of the company’s stock.
CVS Health Corp 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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