CVS Health (NYSE:CVS) was downgraded by equities research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Monday, Briefing.com Automated Import reports.
Other analysts also recently issued research reports about the stock. SunTrust Banks reduced their price objective on shares of CVS Health from $85.00 to $65.00 in a research report on Wednesday, April 10th. UBS Group initiated coverage on CVS Health in a report on Thursday, January 17th. They set a “buy” rating and a $75.00 target price for the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $96.00 target price on shares of CVS Health in a report on Thursday, January 3rd. Bank of America reaffirmed a “buy” rating and set a $92.00 target price on shares of CVS Health in a report on Thursday, January 3rd. Finally, Morgan Stanley set a $92.00 target price on CVS Health and gave the company a “buy” rating in a report on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $79.61.
NYSE:CVS traded up $1.45 on Monday, reaching $54.26. 6,737,493 shares of the stock traded hands, compared to its average volume of 13,132,385. The company has a market capitalization of $68.41 billion, a PE ratio of 7.66, a P/E/G ratio of 1.03 and a beta of 0.94. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.65 and a current ratio of 1.03. CVS Health has a 1-year low of $51.77 and a 1-year high of $82.15.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 20th. The pharmacy operator reported $2.14 EPS for the quarter, topping the consensus estimate of $2.07 by $0.07. The company had revenue of $54.42 billion during the quarter, compared to the consensus estimate of $53.78 billion. CVS Health had a negative net margin of 0.31% and a positive return on equity of 17.49%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 EPS. Research analysts predict that CVS Health will post 6.8 EPS for the current year.
In other news, COO Jonathan C. Roberts sold 77,639 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $64.54, for a total transaction of $5,010,821.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James David Clark sold 1,664 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.14, for a total value of $96,744.96. Following the transaction, the senior vice president now directly owns 8,557 shares of the company’s stock, valued at approximately $497,503.98. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 23,600 shares of company stock valued at $1,270,896 and have sold 245,671 shares valued at $15,839,966. 0.53% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Norway Savings Bank raised its stake in CVS Health by 8.2% in the first quarter. Norway Savings Bank now owns 23,974 shares of the pharmacy operator’s stock valued at $1,293,000 after buying an additional 1,815 shares in the last quarter. D.B. Root & Company LLC raised its stake in CVS Health by 5.5% in the first quarter. D.B. Root & Company LLC now owns 12,386 shares of the pharmacy operator’s stock valued at $668,000 after buying an additional 647 shares in the last quarter. Shorepoint Capital Partners LLC acquired a new stake in CVS Health in the first quarter valued at $4,536,000. Narwhal Capital Management raised its stake in CVS Health by 52.5% in the first quarter. Narwhal Capital Management now owns 69,286 shares of the pharmacy operator’s stock valued at $3,737,000 after buying an additional 23,841 shares in the last quarter. Finally, CAPROCK Group Inc. raised its stake in CVS Health by 42.7% in the first quarter. CAPROCK Group Inc. now owns 21,382 shares of the pharmacy operator’s stock valued at $1,153,000 after buying an additional 6,395 shares in the last quarter. 81.62% of the stock is owned by institutional investors.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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