Brokerages Set CVS Health Co. (NYSE:CVS) Price Target at $94.89

CVS Health Co. (NYSE:CVS) has earned an average recommendation of “Buy” from the twenty brokerages that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $94.89.

CVS has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on CVS Health in a research report on Monday, May 24th. They issued an “equal weight” rating and a $89.00 price objective for the company. Wolfe Research boosted their price objective on CVS Health from $82.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, May 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on CVS Health from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. BMO Capital Markets lifted their price target on CVS Health from $90.00 to $96.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 19th. Finally, Morgan Stanley lifted their price target on CVS Health from $99.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 31st.

In other news, EVP Alan Lotvin sold 2,781 shares of the company’s stock in a transaction on Monday, June 28th. The stock was sold at an average price of $83.67, for a total value of $232,686.27. Following the transaction, the executive vice president now owns 61,048 shares of the company’s stock, valued at approximately $5,107,886.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Troyen A. Brennan sold 2,625 shares of the company’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $87.00, for a total value of $228,375.00. Following the completion of the transaction, the executive vice president now directly owns 140,201 shares in the company, valued at approximately $12,197,487. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Punch & Associates Investment Management Inc. raised its holdings in shares of CVS Health by 0.3% in the 2nd quarter. Punch & Associates Investment Management Inc. now owns 65,254 shares of the pharmacy operator’s stock valued at $5,445,000 after buying an additional 177 shares during the period. J.P. Marvel Investment Advisors LLC increased its holdings in CVS Health by 0.6% during the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 119,863 shares of the pharmacy operator’s stock worth $10,001,000 after purchasing an additional 734 shares during the period. Parametric Portfolio Associates LLC increased its holdings in CVS Health by 5.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 5,402,215 shares of the pharmacy operator’s stock worth $450,761,000 after purchasing an additional 282,615 shares during the period. BDO Wealth Advisors LLC increased its holdings in CVS Health by 4.1% during the 2nd quarter. BDO Wealth Advisors LLC now owns 21,895 shares of the pharmacy operator’s stock worth $1,827,000 after purchasing an additional 861 shares during the period. Finally, Sawtooth Solutions LLC increased its holdings in CVS Health by 29.3% during the 2nd quarter. Sawtooth Solutions LLC now owns 5,815 shares of the pharmacy operator’s stock worth $485,000 after purchasing an additional 1,316 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Shares of CVS stock opened at $83.89 on Friday. The stock has a 50 day moving average of $83.62 and a 200 day moving average of $81.03. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.81. The stock has a market cap of $110.70 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.68 and a beta of 0.83. CVS Health has a twelve month low of $55.36 and a twelve month high of $90.61.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Tuesday, August 3rd. The pharmacy operator reported $2.42 EPS for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.35. The business had revenue of $72.62 billion during the quarter, compared to analysts’ expectations of $70.27 billion. CVS Health had a return on equity of 13.81% and a net margin of 2.59%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.62 earnings per share. On average, research analysts predict that CVS Health will post 7.84 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 2nd. Shareholders of record on Friday, July 23rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Thursday, July 22nd. CVS Health’s dividend payout ratio (DPR) is currently 26.67%.

About CVS Health

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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Analyst Recommendations for CVS Health (NYSE:CVS)

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