CVS Health Corporation (CVS) Upgraded at Needham & Company LLC
Needham & Company LLC upgraded shares of CVS Health Corporation (NYSE:CVS) from a hold rating to a buy rating in a report issued on Friday, MarketBeat Ratings reports. The brokerage currently has $79.00 target price on the pharmacy operator’s stock, up from their previous target price of $69.02.
Several other research firms have also issued reports on CVS. Royal Bank Of Canada began coverage on shares of CVS Health Corporation in a research report on Tuesday, September 19th. They issued an outperform rating and a $95.00 price objective for the company. Jefferies Group LLC increased their price objective on shares of CVS Health Corporation from $82.00 to $86.00 and gave the stock a hold rating in a research report on Friday, September 15th. BidaskClub raised shares of CVS Health Corporation from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Wolfe Research lowered shares of CVS Health Corporation from an outperform rating to a market perform rating and dropped their price objective for the stock from $89.00 to $82.00 in a research report on Monday, August 14th. Finally, Robert W. Baird restated an outperform rating and issued a $90.00 target price on shares of CVS Health Corporation in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $85.82.
Shares of CVS Health Corporation (CVS) traded down $0.29 during mid-day trading on Friday, reaching $70.70. 1,888,396 shares of the company traded hands, compared to its average volume of 6,615,108. CVS Health Corporation has a 1 year low of $66.45 and a 1 year 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. The firm has a market capitalization of $71,720.00, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.22 and a beta of 0.86.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, topping the consensus estimate of $1.49 by $0.01. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The firm had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. During the same quarter in the prior year, the business posted $1.64 earnings per share. CVS Health Corporation’s revenue for the quarter was up 3.5% compared to the same quarter last year. sell-side analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Tuesday, October 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.83%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 41.32%.
In other CVS Health Corporation news, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the transaction, the executive vice president now owns 70,102 shares of the company’s stock, valued at approximately $5,580,820.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the transaction, the chief operating officer now owns 119,555 shares of the company’s stock, valued at approximately $9,939,802.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 716,625 shares of company stock worth $58,318,431. 0.61% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of CVS. FMR LLC boosted its position in shares of CVS Health Corporation by 22.0% during the 2nd 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. Boston Partners boosted its holdings in shares of CVS Health Corporation by 69.1% in the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock worth $519,711,000 after buying an additional 2,638,888 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of CVS Health Corporation by 30.2% in the third quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock worth $648,683,000 after buying an additional 1,849,593 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of CVS Health Corporation by 71.5% in the second quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock worth $317,805,000 after buying an additional 1,647,168 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of CVS Health Corporation by 61.8% in the second quarter. Prudential Financial Inc. now owns 2,946,531 shares of the pharmacy operator’s stock worth $237,078,000 after buying an additional 1,125,400 shares during the period. Institutional investors own 82.04% of the company’s stock.
About CVS Health Corporation
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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