CVS Health Co. (NYSE:CVS) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of CVS Health Co. (NYSE:CVS) have earned an average recommendation of “Buy” from the twenty-six brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $112.04.

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of CVS Health from $101.00 to $107.00 and gave the company a “buy” rating in a research report on Friday, November 5th. Robert W. Baird upped their price objective on shares of CVS Health from $107.00 to $110.00 in a report on Wednesday. Royal Bank of Canada upped their price objective on shares of CVS Health from $107.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, December 10th. Mizuho upped their price objective on shares of CVS Health from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, December 20th. Finally, The Goldman Sachs Group initiated coverage on shares of CVS Health in a report on Tuesday, December 14th. They set a “buy” rating and a $121.00 price objective on the stock.

In related news, EVP Troyen A. Brennan sold 82,757 shares of the firm’s stock in a transaction that occurred on Tuesday, October 26th. The shares were sold at an average price of $88.00, for a total value of $7,282,616.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Troyen A. Brennan sold 28,159 shares of the stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $90.00, for a total transaction of $2,534,310.00. The disclosure for this sale can be found here. Insiders sold 219,786 shares of company stock worth $20,159,576 over the last ninety days. 0.69% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Rafferty Asset Management LLC grew its holdings in shares of CVS Health by 4.3% in the second quarter. Rafferty Asset Management LLC now owns 27,252 shares of the pharmacy operator’s stock worth $2,274,000 after purchasing an additional 1,113 shares during the last quarter. Main Street Financial Solutions LLC bought a new position in shares of CVS Health in the second quarter worth approximately $234,000. Westfield Capital Management Co. LP grew its holdings in shares of CVS Health by 4.4% in the second quarter. Westfield Capital Management Co. LP now owns 63,265 shares of the pharmacy operator’s stock worth $5,279,000 after purchasing an additional 2,695 shares during the last quarter. Mission Wealth Management LP bought a new position in shares of CVS Health in the second quarter worth approximately $246,000. Finally, Cresset Asset Management LLC grew its holdings in shares of CVS Health by 106.7% in the second quarter. Cresset Asset Management LLC now owns 45,495 shares of the pharmacy operator’s stock worth $3,796,000 after purchasing an additional 23,489 shares during the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

CVS opened at $106.22 on Friday. The firm has a market cap of $140.22 billion, a P/E ratio of 18.57, a PEG ratio of 1.65 and a beta of 0.86. The firm has a 50-day moving average of $97.88 and a 200 day moving average of $89.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.67 and a current ratio of 0.94. CVS Health has a fifty-two week low of $68.02 and a fifty-two week high of $107.26.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 3rd. The pharmacy operator reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.18. The company had revenue of $73.79 billion during the quarter, compared to analyst estimates of $70.52 billion. CVS Health had a net margin of 2.66% and a return on equity of 14.16%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 earnings per share. Equities research analysts predict that CVS Health will post 8.36 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Investors of record on Friday, January 21st will be paid a $0.55 dividend. This is an increase from CVS Health’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, January 20th. CVS Health’s dividend payout ratio (DPR) is currently 34.97%.

About CVS Health

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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Analyst Recommendations for CVS Health (NYSE:CVS)

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