CVS Health (CVS) Price Target Cut to $80.00 by Analysts at Robert W. Baird
CVS Health (NYSE:CVS) had its price objective lowered by Robert W. Baird from $85.00 to $80.00 in a research report sent to investors on Friday morning. Robert W. Baird currently has a neutral rating on the pharmacy operator’s stock.
A number of other analysts have also weighed in on the company. Needham & Company LLC upgraded CVS Health from a hold rating to a buy rating and increased their target price for the stock from $69.02 to $79.00 in a research note on Friday, November 10th. Deutsche Bank restated a hold rating on shares of CVS Health in a research note on Tuesday, December 5th. 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. Raymond James Financial restated a buy rating on shares of CVS Health in a research note on Monday, December 4th. Finally, Royal Bank of Canada set a $95.00 price target on CVS Health and gave the company a buy rating in a research note on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. CVS Health has a consensus rating of Buy and a consensus price target of $87.77.
CVS Health (NYSE CVS) traded down $1.16 during mid-day trading on Friday, reaching $69.39. The company’s stock had a trading volume of 16,717,348 shares, compared to its average volume of 8,720,000. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 1.02. CVS Health has a twelve month low of $66.45 and a twelve month high of $84.00. The stock has a market capitalization of $69,140.00, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 1.18 and a beta of 0.92.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Tuesday, January 23rd. CVS Health’s payout ratio is currently 33.90%.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the sale, the executive vice president now owns 15,556 shares of the company’s stock, valued at $1,166,700. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Mission Wealth Management LP boosted its position in CVS Health by 28.3% during the fourth quarter. Mission Wealth Management LP now owns 3,445 shares of the pharmacy operator’s stock valued at $250,000 after purchasing an additional 759 shares in the last quarter. Gould Asset Management LLC CA boosted its position in CVS Health by 19.7% during the fourth quarter. Gould Asset Management LLC CA now owns 6,085 shares of the pharmacy operator’s stock valued at $441,000 after purchasing an additional 1,000 shares in the last quarter. Timber Hill LLC boosted its position in CVS Health by 102.8% during the fourth quarter. Timber Hill LLC now owns 9,736 shares of the pharmacy operator’s stock valued at $706,000 after purchasing an additional 4,936 shares in the last quarter. GM Advisory Group Inc. acquired a new stake in CVS Health in the fourth quarter worth about $222,000. Finally, Smith Moore & CO. boosted its holdings in CVS Health by 19.5% in the fourth quarter. Smith Moore & CO. now owns 7,083 shares of the pharmacy operator’s stock worth $514,000 after acquiring an additional 1,157 shares in the last quarter. 81.69% of the stock is currently owned by institutional investors.
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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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