CVS Health Corp (NYSE:CVS) has received a consensus rating of “Buy” from the thirty research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $75.05.
Several analysts have recently weighed in on the company. Mizuho set a $71.00 price target on CVS Health and gave the stock a “buy” rating in a report on Wednesday, June 5th. Citigroup upped their target price on CVS Health from $68.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Cowen restated an “outperform” rating and set a $76.00 price target (up from $69.00) on shares of CVS Health in a report on Tuesday, August 27th. Morgan Stanley restated a “buy” rating and set a $74.00 price target on shares of CVS Health in a report on Sunday, August 11th. Finally, ValuEngine lowered CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd.
CVS stock traded down $0.29 during midday trading on Wednesday, reaching $63.19. 27,673 shares of the company were exchanged, compared to its average volume of 7,257,627. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.95 and a quick ratio of 0.64. The business has a 50-day moving average price of $60.08 and a two-hundred day moving average price of $55.92. CVS Health has a one year low of $51.72 and a one year high of $82.15. The firm has a market capitalization of $83.31 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 1.40 and a beta of 0.85.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.19. The company had revenue of $63.43 billion during the quarter, compared to the consensus estimate of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The company’s revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.69 earnings per share. As a group, analysts anticipate that CVS Health will post 6.96 earnings per share for the current fiscal year.
In other news, CFO Eva C. Boratto sold 8,130 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $65.00, for a total value of $528,450.00. Following the completion of the transaction, the chief financial officer now owns 55,273 shares of the company’s stock, valued at $3,592,745. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in CVS Health by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock valued at $5,578,027,000 after acquiring an additional 1,167,143 shares in the last quarter. Northern Trust Corp boosted its position in shares of CVS Health by 1.1% in the 2nd quarter. Northern Trust Corp now owns 18,328,099 shares of the pharmacy operator’s stock worth $998,699,000 after purchasing an additional 205,275 shares in the last quarter. Morgan Stanley boosted its position in shares of CVS Health by 12.8% in the 2nd quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock worth $750,088,000 after purchasing an additional 1,560,142 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of CVS Health by 2.8% in the 1st quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock worth $670,172,000 after purchasing an additional 340,315 shares in the last quarter. Finally, Veritas Asset Management LLP boosted its position in shares of CVS Health by 0.7% in the 2nd quarter. Veritas Asset Management LLP now owns 12,269,758 shares of the pharmacy operator’s stock worth $668,579,000 after purchasing an additional 90,700 shares in the last quarter. 75.89% of the stock is currently owned by institutional investors and hedge funds.
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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