CVS Health (NYSE:CVS) Stock Rating Reaffirmed by UBS Group

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UBS Group restated their buy rating on shares of CVS Health (NYSE:CVS) in a report published on Thursday morning. UBS Group currently has a $78.00 price target on the pharmacy operator’s stock.

Several other equities analysts have also recently weighed in on the stock. Deutsche Bank started coverage on shares of CVS Health in a research note on Thursday, September 12th. They issued a buy rating and a $91.00 target price for the company. Royal Bank of Canada started coverage on shares of CVS Health in a research note on Friday, September 27th. They issued an outperform rating and a $85.00 target price for the company. Cowen set a $76.00 target price on shares of CVS Health and gave the company a buy rating in a research note on Monday, October 21st. Raymond James raised their target price on shares of CVS Health from $75.00 to $80.00 and gave the company a strong-buy rating in a research note on Thursday. Finally, Citigroup raised their target price on shares of CVS Health from $72.00 to $83.00 and gave the company a buy rating in a research note on Thursday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $77.59.

Shares of CVS traded up $0.69 during mid-day trading on Thursday, hitting $72.47. 9,079,719 shares of the company’s stock were exchanged, compared to its average volume of 6,966,567. The company has a market cap of $87.55 billion, a PE ratio of 10.24, a P/E/G ratio of 1.46 and a beta of 0.86. CVS Health has a 52 week low of $51.72 and a 52 week high of $82.15. The company has a 50-day simple moving average of $64.66 and a 200 day simple moving average of $58.54. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.95 and a quick ratio of 0.64.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.07. The company had revenue of $64.81 billion during the quarter, compared to analysts’ expectations of $62.99 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business’s quarterly revenue was up 36.5% on a year-over-year basis. During the same period last year, the business earned $1.73 EPS. On average, analysts anticipate that CVS Health will post 6.99 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 24th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.76%. CVS Health’s dividend payout ratio (DPR) is 28.25%.

In other CVS Health news, EVP Joshua Matthew Flum sold 17,703 shares of CVS Health stock in a transaction on Monday, September 30th. The shares were sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the completion of the transaction, the executive vice president now directly owns 36,163 shares of the company’s stock, valued at $2,278,269. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Troyen A. Brennan sold 23,604 shares of CVS Health stock in a transaction on Monday, November 4th. The stock was sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the transaction, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at $7,338,628. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,437 shares of company stock valued at $3,248,811. Company insiders own 0.53% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CVS. Nuveen Asset Management LLC boosted its position in CVS Health by 16,194.7% during the second quarter. Nuveen Asset Management LLC now owns 12,112,044 shares of the pharmacy operator’s stock worth $659,986,000 after purchasing an additional 12,037,713 shares during the period. Morgan Stanley boosted its position in CVS Health by 12.8% during the second quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock worth $750,088,000 after purchasing an additional 1,560,142 shares during the period. Macquarie Group Ltd. boosted its position in CVS Health by 10.9% during the second quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock worth $757,707,000 after purchasing an additional 1,372,275 shares during the period. Prudential PLC boosted its position in CVS Health by 54.8% during the second quarter. Prudential PLC now owns 3,737,874 shares of the pharmacy operator’s stock worth $203,137,000 after purchasing an additional 1,323,366 shares during the period. Finally, Vanguard Group Inc. boosted its position in CVS Health by 1.2% during the second quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock worth $5,578,027,000 after purchasing an additional 1,167,143 shares during the period. 76.17% of the stock is owned by hedge funds and other institutional investors.

About CVS Health

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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Analyst Recommendations for CVS Health (NYSE:CVS)

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