CVS Health (CVS) Given a $80.00 Price Target at Loop Capital

Loop Capital set a $80.00 price target on CVS Health (NYSE:CVS) in a research note issued to investors on Friday. The firm currently has a hold rating on the pharmacy operator’s stock.

CVS has been the topic of several other reports. Royal Bank of Canada set a $99.00 price target on CVS Health and gave the stock a buy rating in a research note on Tuesday, October 23rd. Bank of America upped their price target on CVS Health from $86.00 to $90.00 and gave the stock a buy rating in a research note on Monday, September 17th. Morgan Stanley set a $100.00 price target on CVS Health and gave the stock a buy rating in a research note on Wednesday. ValuEngine raised CVS Health from a strong sell rating to a sell rating in a research note on Tuesday, August 28th. Finally, Tigress Financial reaffirmed a buy rating on shares of CVS Health in a research note on Friday, October 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. CVS Health presently has a consensus rating of Buy and an average target price of $89.38.

Shares of CVS Health stock traded down $0.22 during midday trading on Friday, reaching $79.83. 5,761,328 shares of the company’s stock traded hands, compared to its average volume of 8,350,557. The company has a quick ratio of 1.87, a current ratio of 2.44 and a debt-to-equity ratio of 1.66. The company has a market cap of $80.25 billion, a PE ratio of 13.53, a P/E/G ratio of 1.05 and a beta of 0.98. CVS Health has a 12 month low of $60.14 and a 12 month high of $83.88.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.02. The company had revenue of $47.27 billion for the quarter, compared to analysts’ expectations of $47.22 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 earnings per share. On average, research analysts anticipate that CVS Health will post 7.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.51%. CVS Health’s dividend payout ratio is currently 33.90%.

In other news, EVP Eva C. Boratto sold 13,311 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.16, for a total value of $1,027,076.76. Following the sale, the executive vice president now directly owns 55,162 shares of the company’s stock, valued at $4,256,299.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,722,720.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,409 shares of company stock worth $3,392,097. Insiders own 0.53% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its holdings in shares of CVS Health by 5.7% during the second quarter. Fisher Asset Management LLC now owns 317,675 shares of the pharmacy operator’s stock valued at $20,442,000 after purchasing an additional 17,250 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of CVS Health by 3.1% during the second quarter. Trust Co. of Vermont now owns 26,186 shares of the pharmacy operator’s stock valued at $1,685,000 after purchasing an additional 776 shares in the last quarter. Thompson Rubinstein Investment Management Inc. OR lifted its holdings in shares of CVS Health by 15.8% during the second quarter. Thompson Rubinstein Investment Management Inc. OR now owns 50,625 shares of the pharmacy operator’s stock valued at $3,258,000 after purchasing an additional 6,889 shares in the last quarter. Addenda Capital Inc. lifted its holdings in shares of CVS Health by 91.5% during the second quarter. Addenda Capital Inc. now owns 110,782 shares of the pharmacy operator’s stock valued at $7,003,000 after purchasing an additional 52,930 shares in the last quarter. Finally, Windward Capital Management Co. CA lifted its holdings in shares of CVS Health by 0.3% during the second quarter. Windward Capital Management Co. CA now owns 371,565 shares of the pharmacy operator’s stock valued at $23,910,000 after purchasing an additional 1,167 shares in the last quarter. 82.42% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Company Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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Analyst Recommendations for CVS Health (NYSE:CVS)

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