CVS Health (NYSE:CVS – Get Rating) had its target price decreased by research analysts at Bank of America from $111.00 to $104.00 in a research note issued on Friday, The Fly reports. Bank of America‘s price objective would suggest a potential upside of 39.22% from the company’s current price.
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CVS has been the subject of a number of other research reports. Morgan Stanley increased their price objective on CVS Health from $119.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, January 13th. Raymond James dropped their price target on CVS Health from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, February 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of CVS Health in a research note on Thursday, February 9th. Jefferies Financial Group raised their price target on CVS Health from $130.00 to $143.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. Finally, StockNews.com initiated coverage on CVS Health in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.24.
CVS Health Stock Up 0.8 %
CVS stock opened at $74.70 on Friday. CVS Health has a 1-year low of $72.11 and a 1-year high of $107.73. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $82.61 and its 200 day moving average is $91.42. The stock has a market cap of $95.92 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 1.13 and a beta of 0.65.
CVS Health (NYSE:CVS – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The pharmacy operator reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.07. The firm had revenue of $83.85 billion during the quarter, compared to analyst estimates of $76.37 billion. CVS Health had a return on equity of 15.75% and a net margin of 1.29%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 earnings per share. Sell-side analysts predict that CVS Health will post 8.84 EPS for the current fiscal year.
Institutional Investors Weigh In On CVS Health
Several large investors have recently bought and sold shares of CVS. Cantor Fitzgerald Investment Advisor L.P increased its holdings in CVS Health by 92.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock worth $38,245,000 after buying an additional 181,966 shares in the last quarter. United Bank increased its holdings in CVS Health by 7.2% in the 1st quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock worth $1,888,000 after buying an additional 1,260 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in CVS Health by 4,063.8% in the first quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock worth $1,222,000 after purchasing an additional 11,785 shares during the last quarter. Zions Bancorporation N.A. boosted its position in CVS Health by 116.9% in the first quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock worth $260,000 after purchasing an additional 1,386 shares during the last quarter. Finally, Ergoteles LLC purchased a new position in CVS Health in the first quarter worth about $1,551,000. 77.29% of the stock is currently owned by institutional investors.
CVS Health Company Profile
CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.
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