Guggenheim began coverage on shares of CVS Health (NYSE:CVS) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $75.00 price target on the pharmacy operator’s stock. Guggenheim’s target price would suggest a potential upside of 42.50% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. BMO Capital Markets began coverage on shares of CVS Health in a research report on Wednesday, April 10th. They set an “outperform” rating and a $58.00 target price for the company. UBS Group cut their target price on shares of CVS Health from $75.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, February 21st. SunTrust Banks cut their target price on shares of CVS Health from $85.00 to $65.00 in a research report on Wednesday, April 10th. Oppenheimer lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Monday, April 15th. Finally, Citigroup cut their target price on shares of CVS Health from $94.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. CVS Health has a consensus rating of “Buy” and an average price target of $79.15.
CVS opened at $52.63 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.03 and a quick ratio of 0.65. The stock has a market cap of $68.34 billion, a P/E ratio of 7.43, a P/E/G ratio of 1.06 and a beta of 0.94. CVS Health has a fifty-two week low of $51.77 and a fifty-two week high of $82.15.
CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.07. The firm had revenue of $54.42 billion during the quarter, compared to analyst estimates 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 business earned $1.92 earnings per share. Analysts predict that CVS Health will post 6.8 earnings per share for the current year.
In related news, insider Larry J. Merlo sold 166,368 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $64.51, for a total value of $10,732,399.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director C David Brown II bought 10,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was bought at an average cost of $53.18 per share, for a total transaction of $531,800.00. Following the completion of the purchase, the director now directly owns 16,222 shares of the company’s stock, valued at $862,685.96. The disclosure for this purchase can be found here. Over the last three months, insiders bought 23,600 shares of company stock worth $1,270,896 and sold 245,671 shares worth $15,839,966. Corporate insiders own 0.53% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CVS. Dynamic Technology Lab Private Ltd purchased a new stake in CVS Health in the third quarter valued at approximately $248,000. Verition Fund Management LLC bought a new position in CVS Health during the third quarter valued at approximately $1,114,000. Koshinski Asset Management Inc. grew its position in CVS Health by 66.5% during the third quarter. Koshinski Asset Management Inc. now owns 17,276 shares of the pharmacy operator’s stock valued at $1,360,000 after acquiring an additional 6,900 shares during the last quarter. Kentucky Retirement Systems bought a new position in CVS Health during the third quarter valued at approximately $7,033,000. Finally, Neuberger Berman Group LLC grew its position in CVS Health by 19.7% during the third quarter. Neuberger Berman Group LLC now owns 3,762,537 shares of the pharmacy operator’s stock valued at $296,187,000 after acquiring an additional 618,286 shares during the last quarter. 81.55% 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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