CVS Health (CVS) Given a $100.00 Price Target at Morgan Stanley

Morgan Stanley set a $100.00 target price on CVS Health (NYSE:CVS) in a research report sent to investors on Wednesday morning, The Fly reports. The firm currently has a buy rating on the pharmacy operator’s stock.

Other equities research analysts have also recently issued reports about the company. Bank of America upped their target price on CVS Health from $86.00 to $90.00 and gave the stock a buy rating in a research note on Monday, September 17th. Royal Bank of Canada restated a buy rating and set a $90.00 target price on shares of CVS Health in a research note on Wednesday, August 8th. Tigress Financial restated a buy rating on shares of CVS Health in a research note on Friday, October 26th. ValuEngine upgraded CVS Health from a sell rating to a hold rating in a research note on Tuesday. Finally, Leerink Swann set a $80.00 target price on CVS Health and gave the stock an outperform rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $88.58.

NYSE CVS traded up $0.83 on Wednesday, hitting $79.60. 6,035,645 shares of the company’s stock were exchanged, compared to its average volume of 8,435,104. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.44 and a quick ratio of 1.87. CVS Health has a 52 week low of $60.14 and a 52 week high of $83.88. The stock has a market capitalization of $79.31 billion, a PE ratio of 13.49, a PEG ratio of 1.04 and a beta of 0.98.

CVS Health (NYSE:CVS) last released its earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The firm had revenue of $47.27 billion during the quarter, compared to analysts’ expectations of $47.22 billion. During the same period in the prior year, the company earned $1.50 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts expect that CVS Health will post 7.04 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Tuesday, October 23rd. CVS Health’s payout ratio is 33.90%.

In other news, EVP Kevin Hourican sold 8,564 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $75.00, for a total value of $642,300.00. Following the completion of the transaction, the executive vice president now directly owns 12,135 shares in the company, valued at approximately $910,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,722,720.00. The disclosure for this sale can be found here. Insiders sold a total of 43,409 shares of company stock valued at $3,392,097 over the last quarter. 0.53% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CVS. Adviser Investments LLC increased its holdings in CVS Health by 43.3% in the second quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock valued at $193,000 after purchasing an additional 905 shares during the period. Keystone Financial Planning Inc. increased its holdings in CVS Health by 44.5% in the second quarter. Keystone Financial Planning Inc. now owns 59,038 shares of the pharmacy operator’s stock valued at $3,799,000 after purchasing an additional 18,176 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in CVS Health by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,332,665 shares of the pharmacy operator’s stock valued at $471,857,000 after purchasing an additional 300,887 shares during the period. Waddell & Reed Financial Inc. increased its holdings in CVS Health by 21.5% in the second quarter. Waddell & Reed Financial Inc. now owns 993,394 shares of the pharmacy operator’s stock valued at $63,925,000 after purchasing an additional 175,725 shares during the period. Finally, Ronna Sue Cohen increased its holdings in CVS Health by 4.0% in the third quarter. Ronna Sue Cohen now owns 59,741 shares of the pharmacy operator’s stock valued at $4,703,000 after purchasing an additional 2,288 shares during the period. Institutional investors own 82.42% of the company’s stock.

CVS Health Company Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

Recommended Story: Growth Stocks

The Fly

Analyst Recommendations for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply