CVS Health Corporation (NYSE:CVS) Receives Consensus Rating of “Buy” from Brokerages
CVS Health Corporation (NYSE:CVS) has earned an average recommendation of “Buy” from the twenty-two analysts that are presently covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $91.23.
A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Jefferies Group LLC restated a “hold” rating and issued a $82.00 target price on shares of CVS Health Corporation in a report on Friday, July 14th. ValuEngine lowered shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $88.97 target price on the stock in a report on Tuesday, June 6th. Finally, Cowen and Company restated an “outperform” rating and issued a $86.00 target price on shares of CVS Health Corporation in a report on Tuesday, June 13th.
In other news, CFO David M. Denton sold 230,510 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the sale, the chief financial officer now owns 176,983 shares in the company, valued at approximately $14,158,640. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Helena Foulkes sold 20,332 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $76.98, for a total transaction of $1,565,157.36. Following the sale, the executive vice president now owns 59,300 shares in the company, valued at approximately $4,564,914. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,175 shares of company stock worth $21,632,597. Corporate insiders own 0.61% of the company’s stock.
Several hedge funds have recently bought and sold shares of CVS. Numeric Investors LLC raised its position in CVS Health Corporation by 480.0% in the fourth quarter. Numeric Investors LLC now owns 1,016,817 shares of the pharmacy operator’s stock valued at $80,237,000 after buying an additional 841,517 shares in the last quarter. Jarislowsky Fraser Ltd raised its position in CVS Health Corporation by 7.6% in the fourth quarter. Jarislowsky Fraser Ltd now owns 1,634,518 shares of the pharmacy operator’s stock valued at $128,979,000 after buying an additional 115,421 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in CVS Health Corporation during the fourth quarter valued at approximately $7,003,000. Sowell Financial Services LLC acquired a new position in CVS Health Corporation during the fourth quarter valued at approximately $140,000. Finally, Norges Bank acquired a new position in CVS Health Corporation during the fourth quarter valued at approximately $800,355,000. Hedge funds and other institutional investors own 82.05% of the company’s stock.
CVS Health Corporation (CVS) traded down 0.646% during trading on Friday, reaching $78.092. The company’s stock had a trading volume of 2,493,631 shares. The company has a market cap of $79.56 billion, a P/E ratio of 16.286 and a beta of 0.91. The stock’s 50-day moving average is $78.75 and its 200 day moving average is $79.10. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $98.44.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, May 2nd. The pharmacy operator reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.07. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. The firm had revenue of $44.51 billion for the quarter, compared to analyst estimates of $44.20 billion. During the same quarter in the prior year, the business earned $1.18 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts forecast that CVS Health Corporation will post $5.87 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.54%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio is presently 41.67%.
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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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