Several other research firms also recently commented on CVS. Royal Bank Of Canada initiated coverage on shares of CVS Health in a research note on Tuesday, September 19th. They issued an outperform rating and a $95.00 price target on the stock. Jefferies Group raised their target price on shares of CVS Health from $82.00 to $86.00 and gave the company a hold rating in a research report on Friday, September 15th. Needham & Company LLC reissued a hold rating on shares of CVS Health in a research report on Sunday, September 10th. Wolfe Research downgraded shares of CVS Health from an outperform rating to a market perform rating and cut their target price for the company from $89.00 to $82.00 in a research report on Monday, August 14th. Finally, Robert W. Baird reissued an outperform rating and set a $90.00 target price on shares of CVS Health in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. CVS Health currently has a consensus rating of Buy and a consensus price target of $86.35.
CVS Health (NYSE CVS) opened at $71.38 on Monday. The company has a market cap of $72,621.40, a PE ratio of 12.56, a P/E/G ratio of 1.23 and a beta of 0.89. CVS Health has a 12 month low of $66.45 and a 12 month high of $84.72. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67.
In related news, insider Larry J. Merlo sold 241,150 shares of CVS Health stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the completion of the sale, the insider now directly owns 299,255 shares in the company, valued at approximately $24,859,112.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the sale, the executive vice president now owns 70,102 shares of the company’s stock, valued at $5,580,820.22. The disclosure for this sale can be found here. Insiders sold a total of 714,125 shares of company stock worth $58,119,381 over the last 90 days. Company insiders own 0.61% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Jackson Grant Investment Advisers Inc. lifted its stake in CVS Health by 0.6% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock valued at $232,000 after acquiring an additional 18 shares during the period. Keel Point LLC lifted its stake in CVS Health by 0.7% during the 1st quarter. Keel Point LLC now owns 3,296 shares of the pharmacy operator’s stock valued at $259,000 after acquiring an additional 22 shares during the period. First City Capital Management Inc. lifted its stake in CVS Health by 0.3% during the 1st quarter. First City Capital Management Inc. now owns 12,771 shares of the pharmacy operator’s stock valued at $1,003,000 after acquiring an additional 40 shares during the period. Elefante Mark B lifted its stake in CVS Health by 0.7% during the 2nd quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock valued at $515,000 after acquiring an additional 45 shares during the period. Finally, Traynor Capital Management Inc. lifted its stake in CVS Health by 1.3% during the 2nd quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock valued at $290,000 after acquiring an additional 48 shares during the period. Institutional investors own 82.24% of the company’s stock.
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About CVS Health
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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