Cowen reaffirmed their outperform rating on shares of CVS Health (NYSE:CVS) in a research note published on Thursday, The Fly reports. They currently have a $99.00 price target on the pharmacy operator’s stock, up from their previous price target of $81.00.
Other equities analysts have also issued research reports about the company. Needham & Company LLC raised CVS Health from a hold rating to a buy rating and boosted their price objective for the stock from $69.02 to $79.00 in a research note on Friday, November 10th. SunTrust Banks set a $85.00 price objective on CVS Health and gave the stock a buy rating in a research note on Thursday, October 12th. Mizuho set a $90.00 price target on CVS Health and gave the company a buy rating in a research note on Tuesday, October 24th. Oppenheimer reaffirmed a buy rating and issued a $95.00 price target on shares of CVS Health in a research note on Monday, October 9th. Finally, Deutsche Bank began coverage on CVS Health in a research note on Monday, December 4th. They issued a buy rating and a $90.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $87.25.
CVS Health (NYSE CVS) traded up $0.51 during midday trading on Thursday, reaching $79.86. The company’s stock had a trading volume of 7,944,833 shares, compared to its average volume of 8,930,000. The firm has a market capitalization of $80,900.00, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.26 and a beta of 0.90. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. CVS Health has a one year low of $66.45 and a one year high of $84.00.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.50%. CVS Health’s dividend payout ratio is presently 41.32%.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the sale, the executive vice president now owns 15,556 shares in the company, valued at approximately $1,166,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of CVS Health by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock valued at $6,159,825,000 after buying an additional 1,056,265 shares during the period. FMR LLC raised its holdings in shares of CVS Health by 22.0% in the 2nd quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after buying an additional 5,446,930 shares during the period. Northern Trust Corp raised its holdings in shares of CVS Health by 5.5% in the 2nd quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock valued at $1,256,631,000 after buying an additional 807,639 shares during the period. Nordea Investment Management AB raised its holdings in shares of CVS Health by 8.4% in the 2nd quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock valued at $1,138,905,000 after buying an additional 1,100,373 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of CVS Health by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock valued at $882,860,000 after buying an additional 430,377 shares during the period. Hedge funds and other institutional investors own 81.69% of the company’s stock.
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CVS Health Company Profile
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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