Needham & Company LLC Reiterates “$98.00” Price Target for CVS Health (CVS)

CVS Health (NYSE:CVS) has been assigned a $98.00 target price by analysts at Needham & Company LLC in a report released on Friday. The firm currently has a “buy” rating on the pharmacy operator’s stock. Needham & Company LLC’s target price points to a potential upside of 41.23% from the company’s current price.

Several other equities analysts have also issued reports on the company. Robert W. Baird reissued a “hold” rating and set a $77.00 target price on shares of CVS Health in a research note on Friday, October 27th. Deutsche Bank reissued a “hold” rating on shares of CVS Health in a research note on Tuesday, December 5th. Mizuho set a $90.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Raymond James Financial reissued a “buy” rating on shares of CVS Health in a research note on Monday, December 4th. Finally, Royal Bank of Canada set a $95.00 price target on CVS Health and gave the stock a “buy” rating in a report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. CVS Health presently has an average rating of “Buy” and an average price target of $87.77.

CVS Health (NYSE CVS) traded down $1.16 on Friday, reaching $69.39. The company had a trading volume of 16,720,000 shares, compared to its average volume of 8,720,000. CVS Health has a 1 year low of $66.45 and a 1 year high of $84.00. The company has a current ratio of 1.02, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The firm has a market cap of $70,290.00, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 1.18 and a beta of 0.92.

CVS Health (NYSE:CVS) last posted its earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.04. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The firm had revenue of $48.39 billion for the quarter, compared to analyst estimates of $47.54 billion. During the same quarter in the prior year, the company earned $1.71 EPS. CVS Health’s revenue was up 5.3% on a year-over-year basis. research analysts anticipate that CVS Health will post 6.49 earnings per share for the current year.

In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the sale, the executive vice president now owns 15,556 shares in the company, valued at approximately $1,166,700. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pathstone Family Office LLC increased its holdings in shares of CVS Health by 341.0% in the 2nd quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock valued at $2,353,000 after acquiring an additional 982 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of CVS Health by 330.3% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 991 shares during the last quarter. Fieldpoint Private Securities LLC increased its holdings in shares of CVS Health by 333.3% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares during the last quarter. Arcadia Investment Management Corp MI increased its holdings in shares of CVS Health by 119.6% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after acquiring an additional 726 shares during the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new position in shares of CVS Health in the 2nd quarter valued at about $119,000. Institutional investors and hedge funds own 81.69% of the company’s stock.

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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.

Analyst Recommendations for CVS Health (NYSE:CVS)

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