Needham & Company LLC Boosts CVS Health (CVS) Price Target to $85.00

CVS Health (NYSE:CVS) had its target price lifted by Needham & Company LLC from $79.00 to $85.00 in a research note released on Monday, Marketbeat Ratings reports. They currently have a buy rating on the pharmacy operator’s stock.

Other research analysts have also recently issued reports about the stock. Citigroup reduced their price target on shares of CVS Health from $88.00 to $87.00 and set a neutral rating on the stock in a research report on Thursday, August 17th. Royal Bank Of Canada began coverage on shares of CVS Health in a research report on Tuesday, September 19th. They set an outperform rating and a $95.00 price target on the stock. Jefferies Group lifted their price target 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. Wolfe Research cut shares of CVS Health from an outperform rating to a market perform rating and reduced their price target for the company from $89.00 to $82.00 in a research report on Monday, August 14th. Finally, Robert W. Baird reiterated a hold rating and set a $77.00 price objective on shares of CVS Health in a research note on Friday, October 27th. 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. The stock has a consensus rating of Buy and an average target price of $86.35.

CVS Health (CVS) opened at $71.38 on Monday. The firm has a market cap of $71,932.56, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.22 and a beta of 0.89. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. CVS Health has a 12-month low of $66.45 and a 12-month high of $84.72.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. The firm had revenue of $46.18 billion for the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. CVS Health’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 earnings per share. equities research analysts predict that CVS Health will post 5.9 EPS for the current year.

In related news, insider Larry J. Merlo sold 241,150 shares of CVS Health stock in a transaction 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 owns 299,255 shares in the company, valued at $24,859,112.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health stock in a transaction 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 approximately $5,580,820.22. The disclosure for this sale can be found here. Insiders have sold 714,125 shares of company stock worth $58,119,381 in the last quarter. Insiders own 0.61% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Fieldpoint Private Securities LLC increased its stake in CVS Health by 333.3% during the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 1,000 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in CVS Health by 330.3% during the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 991 shares during the last quarter. Arcadia Investment Management Corp MI increased its stake in CVS Health by 119.6% during the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after purchasing an additional 726 shares during the last quarter. MPS Loria Financial Planners LLC bought a new stake in CVS Health during the second quarter valued at $119,000. Finally, Gemmer Asset Management LLC increased its stake in CVS Health by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for CVS Health (NYSE:CVS)

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