Cowen Reiterates Outperform Rating for CVS Health (CVS)

CVS Health (NYSE:CVS)‘s stock had its “outperform” rating reiterated by research analysts at Cowen in a research report issued to clients and investors on Thursday, The Fly reports. They currently have a $99.00 target price on the pharmacy operator’s stock, up from their previous target price of $81.00. Cowen’s price objective would indicate a potential upside of 23.97% from the company’s current price.

Other analysts have also issued reports about the stock. Needham & Company LLC upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.02 to $79.00 in a research note on Friday, November 10th. SunTrust Banks set a $85.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Thursday, October 12th. Mizuho set a $90.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research note on Tuesday, October 24th. Oppenheimer restated a “buy” rating and set a $95.00 price objective on shares of CVS Health in a research note on Monday, October 9th. Finally, Deutsche Bank began coverage on shares of CVS Health in a research note on Monday, December 4th. They set a “buy” rating and a $90.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. CVS Health has an average rating of “Buy” and an average target price of $87.25.

CVS Health (NYSE:CVS) traded up $0.51 during trading hours on Thursday, reaching $79.86. 7,944,833 shares of the company’s stock were exchanged, compared to its average volume of 8,930,000. The company has a market cap of $80,900.00, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.26 and a beta of 0.90. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. CVS Health has a 1-year low of $66.45 and a 1-year high of $84.00.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. The business had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. CVS Health’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $1.64 EPS. sell-side analysts anticipate that CVS Health will post 5.89 EPS for the current fiscal year.

In related news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the transaction, the executive vice president now owns 15,556 shares of the company’s stock, valued at $1,166,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fieldpoint Private Securities LLC boosted its holdings in shares of CVS Health 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 during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in CVS Health by 330.3% during the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 991 shares in the last quarter. Arcadia Investment Management Corp MI lifted its holdings in CVS Health by 119.6% during the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after purchasing an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in CVS Health during the second quarter valued at approximately $119,000. Finally, Gemmer Asset Management LLC lifted its holdings in CVS Health by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after purchasing an additional 200 shares in the last quarter. 81.69% of the stock is currently owned by institutional investors.

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CVS Health 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.

The Fly

Analyst Recommendations for CVS Health (NYSE:CVS)

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