CVS Health (NYSE:CVS) Price Target Raised to $72.00

CVS Health (NYSE:CVS) had its target price lifted by Wells Fargo & Co from $62.00 to $72.00 in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has a “market perform” rating on the pharmacy operator’s stock. Wells Fargo & Co‘s price objective suggests a potential downside of 0.65% from the stock’s previous close.

CVS has been the topic of several other research reports. Mizuho boosted their price target on shares of CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a research report on Friday. Barclays boosted their price target on shares of CVS Health from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank of Canada began coverage on shares of CVS Health in a research report on Friday, September 27th. They set an “outperform” rating and a $85.00 price target on the stock. TheStreet upgraded shares of CVS Health from a “c+” rating to a “b-” rating in a research report on Monday, September 9th. Finally, Morgan Stanley boosted their price target on shares of CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $77.59.

CVS stock opened at $72.47 on Friday. The firm’s 50-day moving average price is $64.66 and its two-hundred day moving average price is $58.54. CVS Health has a 12-month low of $51.72 and a 12-month high of $82.15. The stock has a market capitalization of $87.55 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The firm had revenue of $64.81 billion for the quarter, compared to analysts’ expectations of $62.99 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. The company’s revenue for the quarter was up 36.5% compared to the same quarter last year. Equities analysts predict that CVS Health will post 6.99 EPS for the current year.

In other CVS Health news, EVP Troyen A. Brennan sold 23,604 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $68.00, for a total value of $1,605,072.00. Following the sale, the executive vice president now owns 107,921 shares in the company, valued at $7,338,628. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Eva C. Boratto sold 8,130 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $65.00, for a total transaction of $528,450.00. Following the completion of the sale, the chief financial officer now owns 55,273 shares in the company, valued at approximately $3,592,745. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,437 shares of company stock worth $3,248,811. Corporate insiders own 0.53% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CVS. Nuveen Asset Management LLC lifted its stake in shares of CVS Health by 16,194.7% in the second quarter. Nuveen Asset Management LLC now owns 12,112,044 shares of the pharmacy operator’s stock worth $659,986,000 after buying an additional 12,037,713 shares in the last quarter. Morgan Stanley lifted its stake in shares of CVS Health by 12.8% in the second quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock worth $750,088,000 after buying an additional 1,560,142 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of CVS Health by 10.9% in the second quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock worth $757,707,000 after buying an additional 1,372,275 shares in the last quarter. Prudential PLC lifted its stake in shares of CVS Health by 54.8% in the second quarter. Prudential PLC now owns 3,737,874 shares of the pharmacy operator’s stock worth $203,137,000 after buying an additional 1,323,366 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of CVS Health by 1.2% in the second quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock worth $5,578,027,000 after buying an additional 1,167,143 shares in the last quarter. Hedge funds and other institutional investors own 76.17% of the company’s stock.

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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