CVS Health (NYSE:CVS) PT Raised to $72.00 at Citigroup

CVS Health (NYSE:CVS) had its price target raised by equities researchers at Citigroup from $68.00 to $72.00 in a report issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. Citigroup‘s price objective points to a potential upside of 21.44% from the company’s previous close.

A number of other equities analysts also recently commented on CVS. CIBC reissued a “market perform” rating on shares of CVS Health in a research note on Monday, April 15th. Cantor Fitzgerald reissued a “buy” rating and issued a $80.00 price objective on shares of CVS Health in a research note on Wednesday, May 1st. Bank of America reissued a “buy” rating and issued a $74.00 price objective (down previously from $82.00) on shares of CVS Health in a research note on Wednesday, April 10th. Standpoint Research raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Finally, Oppenheimer downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $75.14.

CVS Health stock opened at $59.29 on Thursday. The company’s 50 day moving average is $55.66. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. CVS Health has a fifty-two week low of $51.72 and a fifty-two week high of $82.15. The company has a market capitalization of $75.50 billion, a P/E ratio of 8.37, a PEG ratio of 1.29 and a beta of 0.90.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.19. CVS Health had a net margin of 1.91% and a return on equity of 16.92%. The firm had revenue of $63.43 billion during the quarter, compared to the consensus estimate of $62.66 billion. During the same quarter in the previous year, the firm posted $1.69 earnings per share. The company’s revenue was up 35.2% on a year-over-year basis. As a group, research analysts expect that CVS Health will post 6.96 earnings per share for the current year.

Several hedge funds have recently modified their holdings of CVS. Bay Harbor Wealth Management LLC grew its holdings in shares of CVS Health by 1,871.4% during the first quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 524 shares during the last quarter. Executive Wealth Management LLC grew its holdings in shares of CVS Health by 62.4% during the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 217 shares during the last quarter. Manchester Financial Inc. purchased a new stake in shares of CVS Health during the second quarter valued at $31,000. Hudock Capital Group LLC grew its holdings in shares of CVS Health by 54.0% during the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 202 shares during the last quarter. Finally, Tarbox Family Office Inc. grew its holdings in shares of CVS Health by 74.7% during the second quarter. Tarbox Family Office Inc. now owns 580 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 248 shares during the last quarter. 77.33% of the stock is currently owned by institutional investors and hedge funds.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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