CVS Health Corporation’s (CVS) Hold Rating Reaffirmed at Needham & Company LLC
CVS has been the subject of a number of other research reports. Cowen and Company reaffirmed an outperform rating and set a $86.00 price target on shares of CVS Health Corporation in a research report on Tuesday, June 13th. BidaskClub raised CVS Health Corporation from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Citigroup Inc. lowered their price target on CVS Health Corporation from $88.00 to $87.00 and set a neutral rating for the company in a research report on Thursday, August 17th. Leerink Swann set a $90.00 price target on CVS Health Corporation and gave the stock a buy rating in a research report on Tuesday, June 27th. Finally, Wolfe Research cut CVS Health Corporation from an outperform rating to a market perform rating and lowered their price target for the stock from $89.00 to $82.00 in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $90.83.
Shares of CVS Health Corporation (NYSE:CVS) traded up 0.18% during midday trading on Friday, reaching $79.86. The company had a trading volume of 1,743,702 shares. The company’s 50-day moving average is $78.37 and its 200-day moving average is $78.91. The stock has a market capitalization of $81.18 billion, a PE ratio of 15.91 and a beta of 0.92. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $92.79.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. The firm had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 EPS. On average, equities research analysts forecast that CVS Health Corporation will post $5.88 EPS for the current year.
In other CVS Health Corporation news, Director Richard J. Swift sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now directly owns 3,258 shares in the company, valued at approximately $259,401.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Helena Foulkes sold 20,333 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $80.00, for a total value of $1,626,640.00. Following the sale, the executive vice president now owns 59,301 shares of the company’s stock, valued at $4,744,080. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,165 shares of company stock valued at $3,390,847. 0.61% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of CVS Health Corporation by 1.4% in the second quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock valued at $6,159,825,000 after purchasing an additional 1,056,265 shares in the last quarter. FMR LLC grew its position in shares of CVS Health Corporation by 22.0% in the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after purchasing an additional 5,446,930 shares in the last quarter. Bank of America Corp DE grew its position in shares of CVS Health Corporation by 1.8% in the first quarter. Bank of America Corp DE now owns 22,411,957 shares of the pharmacy operator’s stock valued at $1,759,338,000 after purchasing an additional 398,999 shares in the last quarter. Northern Trust Corp grew its position in shares of CVS Health Corporation by 5.5% in the second quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock valued at $1,256,631,000 after purchasing an additional 807,639 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of CVS Health Corporation by 8.4% in the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock valued at $1,138,905,000 after purchasing an additional 1,100,373 shares in the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.
CVS Health Corporation 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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