CVS Health (CVS) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of CVS Health (NYSE:CVS) from a sell rating to a hold rating in a report published on Tuesday morning.

A number of other research analysts have also recently issued reports on the stock. Bank of America lifted their price objective on shares of CVS Health from $86.00 to $90.00 and gave the company a buy rating in a report on Monday, September 17th. Royal Bank of Canada lifted their price objective on shares of CVS Health to $101.00 and gave the company an outperform rating in a report on Tuesday, September 18th. Tigress Financial reiterated a buy rating on shares of CVS Health in a report on Friday, October 26th. Citigroup reiterated a buy rating and set a $81.00 price objective on shares of CVS Health in a report on Monday, July 9th. Finally, Leerink Swann set a $80.00 price objective on shares of CVS Health and gave the company an outperform rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. CVS Health presently has a consensus rating of Buy and an average price target of $89.38.

CVS opened at $79.83 on Tuesday. CVS Health has a 1-year low of $60.14 and a 1-year high of $83.88. The company has a quick ratio of 1.87, a current ratio of 2.44 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $80.25 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 1.05 and a beta of 0.98.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. The firm had revenue of $47.27 billion during the quarter, compared to the consensus estimate of $47.22 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts predict 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. Investors of record on Wednesday, October 24th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.51%. The ex-dividend date was Tuesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.

In related news, EVP Lisa Bisaccia sold 21,534 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,722,720.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Eva C. Boratto sold 13,311 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the transaction, the executive vice president now owns 55,162 shares in the company, valued at $4,256,299.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,409 shares of company stock worth $3,392,097. 0.53% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Camarda Financial Advisors LLC bought a new stake in CVS Health in the second quarter worth about $102,000. Kiley Juergens Wealth Management LLC bought a new stake in CVS Health in the second quarter worth about $103,000. Legacy Advisors LLC raised its position in CVS Health by 7,100.0% in the second quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock worth $116,000 after acquiring an additional 1,775 shares during the period. Squar Milner Financial Services LLC bought a new stake in CVS Health in the second quarter worth about $122,000. Finally, Canton Hathaway LLC bought a new stake in CVS Health in the third quarter worth about $126,000. Institutional investors and hedge funds 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for CVS Health (NYSE:CVS)

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