CVS Health Corporation (CVS) Given Average Rating of “Buy” by Analysts
Shares of CVS Health Corporation (NYSE:CVS) have been given a consensus rating of “Buy” by the twenty-four brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $89.81.
CVS has been the topic of a number of recent analyst reports. Evercore ISI reissued an “outperform” rating and set a $88.00 price target (up from $87.00) on shares of CVS Health Corporation in a report on Wednesday, May 3rd. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 price target on the stock in a report on Wednesday, May 17th. ValuEngine downgraded shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC reissued a “hold” rating and set a $82.00 price target on shares of CVS Health Corporation in a report on Friday, June 9th. Finally, Cowen and Company reissued an “outperform” rating and set a $86.00 price target on shares of CVS Health Corporation in a report on Tuesday, June 13th.
CVS Health Corporation (CVS) traded up 0.887% during trading on Tuesday, reaching $76.129. The company had a trading volume of 2,833,952 shares. The firm’s 50 day moving average price is $78.28 and its 200 day moving average price is $78.95. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $94.30. The firm has a market capitalization of $77.39 billion, a PE ratio of 15.165 and a beta of 0.91.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The firm had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. During the same period in the prior year, the firm posted $1.32 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts forecast that CVS Health Corporation will post $5.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is 39.92%.
In other news, Director Richard J. Swift sold 2,500 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total value of $199,050.00. Following the completion of the sale, the director now directly owns 3,258 shares in the company, valued at $259,401.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Denton sold 230,510 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 176,983 shares of the company’s stock, valued at $14,158,640. The disclosure for this sale can be found here. Insiders sold 273,675 shares of company stock valued at $21,831,647 over the last quarter. Company insiders own 0.61% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in CVS Health Corporation by 18.6% in the second quarter. Toronto Dominion Bank now owns 425,418 shares of the pharmacy operator’s stock valued at $34,233,000 after buying an additional 66,762 shares during the last quarter. Oak Associates Ltd. OH boosted its stake in CVS Health Corporation by 2.2% in the second quarter. Oak Associates Ltd. OH now owns 204,771 shares of the pharmacy operator’s stock valued at $16,476,000 after buying an additional 4,391 shares during the last quarter. Rikoon Group LLC boosted its stake in CVS Health Corporation by 53.2% in the second quarter. Rikoon Group LLC now owns 19,590 shares of the pharmacy operator’s stock valued at $1,576,000 after buying an additional 6,799 shares during the last quarter. Cetera Investment Advisers boosted its stake in CVS Health Corporation by 3.7% in the second quarter. Cetera Investment Advisers now owns 8,615 shares of the pharmacy operator’s stock valued at $692,000 after buying an additional 309 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in CVS Health Corporation by 44.3% in the second quarter. Advisory Services Network LLC now owns 15,949 shares of the pharmacy operator’s stock valued at $1,283,000 after buying an additional 4,893 shares during the last quarter. Hedge funds and other institutional investors own 81.53% 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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