Shares of CVS Health Corp (NYSE:CVS) have earned a consensus rating of “Buy” from the twenty-six analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $75.79.
Several brokerages have recently issued reports on CVS. Morgan Stanley set a $92.00 price objective on CVS Health and gave the company a “buy” rating in a research note on Friday, February 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 target price on shares of CVS Health in a research note on Thursday, February 21st. BMO Capital Markets set a $63.00 target price on CVS Health and gave the stock a “hold” rating in a research note on Friday, May 3rd. Barclays set a $73.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd.
In other news, Director David W. Dorman purchased 9,600 shares of the business’s stock in a transaction on Friday, March 8th. The shares were bought at an average price of $52.71 per share, with a total value of $506,016.00. Following the completion of the transaction, the director now directly owns 122,302 shares in the company, valued at approximately $6,446,538.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C David Brown II purchased 10,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were purchased at an average cost of $53.18 per share, for a total transaction of $531,800.00. Following the transaction, the director now owns 16,222 shares of the company’s stock, valued at $862,685.96. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 23,600 shares of company stock worth $1,270,896. 0.53% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Levin Capital Strategies L.P. increased its holdings in shares of CVS Health by 12,771.1% in the fourth quarter. Levin Capital Strategies L.P. now owns 972,409 shares of the pharmacy operator’s stock valued at $63,712,000 after purchasing an additional 964,854 shares during the period. Jackson Wealth Management LLC acquired a new position in CVS Health during the fourth quarter worth $1,535,000. Pinnacle Bank acquired a new position in CVS Health during the fourth quarter worth $157,000. Texas Permanent School Fund grew its holdings in CVS Health by 13.8% during the fourth quarter. Texas Permanent School Fund now owns 260,110 shares of the pharmacy operator’s stock worth $17,042,000 after acquiring an additional 31,567 shares during the period. Finally, Butensky & Cohen Financial Security Inc. grew its holdings in CVS Health by 1.5% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 27,715 shares of the pharmacy operator’s stock worth $1,816,000 after acquiring an additional 409 shares during the period. 80.39% of the stock is currently owned by institutional investors.
CVS Health stock traded up $0.52 during midday trading on Thursday, reaching $53.52. 8,150,931 shares of the stock traded hands, compared to its average volume of 12,922,703. CVS Health has a 12-month low of $51.72 and a 12-month high of $82.15. The stock has a market capitalization of $68.70 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 1.03 and a beta of 0.93. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.64.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.12. The company had revenue of $61.65 billion during the quarter, compared to analysts’ expectations of $60.39 billion. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. CVS Health’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same period last year, the business posted $1.48 EPS. Equities research analysts anticipate that CVS Health will post 6.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Monday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 28.25%.
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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