CVS Health (CVS) Stock Rating Lowered by ValuEngine

CVS Health (NYSE:CVS) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.

Several other equities research analysts have also issued reports on the company. Loop Capital set a $80.00 price objective on CVS Health and gave the company a “hold” rating in a research note on Wednesday, November 28th. UBS Group began coverage on CVS Health in a research note on Thursday. They issued a “buy” rating and a $75.00 price objective for the company. Cantor Fitzgerald began coverage on CVS Health in a research note on Monday, November 26th. They issued an “overweight” rating and a $96.00 price objective for the company. Bank of America reaffirmed a “buy” rating and issued a $92.00 price objective on shares of CVS Health in a research note on Thursday, January 3rd. Finally, Royal Bank of Canada set a $100.00 price objective on CVS Health and gave the company a “buy” rating in a research note on Wednesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $91.88.

Shares of NYSE:CVS traded down $0.55 during trading on Thursday, hitting $63.37. 12,527,775 shares of the company’s stock were exchanged, compared to its average volume of 11,135,461. The company has a current ratio of 2.44, a quick ratio of 1.94 and a debt-to-equity ratio of 1.66. CVS Health has a 52-week low of $60.14 and a 52-week high of $83.88. The stock has a market capitalization of $64.94 billion, a P/E ratio of 10.74, a P/E/G ratio of 0.78 and a beta of 1.12.

CVS Health (NYSE:CVS) last released its earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.02. The firm had revenue of $47.27 billion during 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 was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.50 earnings per share. On average, research analysts predict that CVS Health will post 7.02 earnings per share for the current fiscal year.

In other CVS Health news, CFO David M. Denton sold 25,159 shares of CVS Health stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $80.13, for a total transaction of $2,015,990.67. Following the completion of the sale, the chief financial officer now directly owns 403 shares of the company’s stock, valued at approximately $32,292.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Troyen A. Brennan sold 14,229 shares of CVS Health stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $82.00, for a total value of $1,166,778.00. The disclosure for this sale can be found here. Insiders have sold a total of 205,756 shares of company stock valued at $14,668,815 over the last three months. 0.53% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CVS. Tiedemann Advisors LLC bought a new position in CVS Health during the 2nd quarter valued at $394,000. MAI Capital Management raised its stake in shares of CVS Health by 1.7% during the 2nd quarter. MAI Capital Management now owns 87,488 shares of the pharmacy operator’s stock worth $5,630,000 after purchasing an additional 1,464 shares during the period. Global X Management Co LLC raised its stake in shares of CVS Health by 33.7% during the 2nd quarter. Global X Management Co LLC now owns 22,264 shares of the pharmacy operator’s stock worth $1,433,000 after purchasing an additional 5,608 shares during the period. M Holdings Securities Inc. raised its stake in shares of CVS Health by 12.6% during the 2nd quarter. M Holdings Securities Inc. now owns 8,770 shares of the pharmacy operator’s stock worth $564,000 after purchasing an additional 982 shares during the period. Finally, GHP Investment Advisors Inc. bought a new stake in shares of CVS Health during the 2nd quarter worth $898,000. 84.47% of the stock is owned by institutional investors and hedge funds.

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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