CVS Health Corporation (NYSE:CVS)‘s stock had its “outperform” rating reissued by research analysts at Leerink Swann in a research report issued to clients and investors on Sunday. They presently have a $105.00 price target on the pharmacy operator’s stock, down from their previous price target of $110.00. Leerink Swann’s price target points to a potential upside of 17.99% from the stock’s current price.
CVS has been the topic of several other research reports. Morgan Stanley restated a “hold” rating and issued a $104.00 target price on shares of CVS Health Corporation in a research note on Monday, September 12th. Credit Suisse Group AG restated a “buy” rating and issued a $115.00 target price on shares of CVS Health Corporation in a research note on Tuesday, September 20th. Vetr cut CVS Health Corporation from a “strong-buy” rating to a “hold” rating and set a $95.44 target price on the stock. in a research note on Monday, July 25th. Deutsche Bank AG boosted their target price on CVS Health Corporation from $99.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Finally, Jefferies Group restated a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 4th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. CVS Health Corporation currently has a consensus rating of “Buy” and a consensus target price of $112.81.
Shares of CVS Health Corporation (NYSE:CVS) traded down 0.63% during midday trading on Friday, hitting $88.99. 9,151,656 shares of the stock traded hands. CVS Health Corporation has a 12-month low of $86.50 and a 12-month high of $106.67. The firm’s 50 day moving average price is $92.98 and its 200 day moving average price is $97.44. The company has a market capitalization of $94.88 billion, a PE ratio of 20.47 and a beta of 0.84.
CVS Health Corporation (NYSE:CVS) last released its earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.02. The firm had revenue of $43.70 billion for the quarter, compared to analysts’ expectations of $44.28 billion. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 EPS. Analysts expect that CVS Health Corporation will post $5.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 3rd. Investors of record on Monday, October 24th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $1.70 annualized dividend and a dividend yield of 1.91%. CVS Health Corporation’s dividend payout ratio is currently 39.08%.
Hedge funds have recently made changes to their positions in the company. Evercore Wealth Management LLC increased its stake in shares of CVS Health Corporation by 4.2% in the second quarter. Evercore Wealth Management LLC now owns 43,454 shares of the pharmacy operator’s stock valued at $4,160,000 after buying an additional 1,755 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of CVS Health Corporation by 9.7% in the second quarter. Macquarie Group Ltd. now owns 7,707,523 shares of the pharmacy operator’s stock valued at $737,919,000 after buying an additional 682,784 shares in the last quarter. Carnick & Kubik Group LLC acquired a new stake in shares of CVS Health Corporation during the second quarter valued at $1,861,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of CVS Health Corporation during the second quarter valued at $4,152,000. Finally, Kentucky Retirement Systems acquired a new stake in shares of CVS Health Corporation during the second quarter valued at $8,744,000. Institutional investors and hedge funds own 80.96% of the company’s stock.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names.
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