CVS Health (NYSE:CVS) had its target price reduced by Bank of America from $91.00 to $88.00 in a report published on Wednesday morning. They currently have a buy rating on the pharmacy operator’s stock.
Several other equities research analysts also recently weighed in on CVS. Leerink Swann set a $85.00 price target on shares of CVS Health and gave the company a buy rating in a research note on Tuesday. ValuEngine downgraded shares of CVS Health from a buy rating to a hold rating in a research report on Sunday, December 31st. Vetr downgraded shares of CVS Health from a buy rating to a hold rating and set a $77.11 target price for the company. in a research report on Thursday, January 4th. Morgan Stanley raised shares of CVS Health from an equal weight rating to an overweight rating and set a $88.00 target price for the company in a research report on Friday, January 5th. Finally, SunTrust Banks boosted their target price on shares of CVS Health to $90.00 and gave the stock a buy rating in a research report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. CVS Health currently has an average rating of Buy and an average target price of $86.65.
CVS opened at $63.60 on Wednesday. CVS Health has a 1-year low of $60.14 and a 1-year high of $84.00. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $64,899.61, a price-to-earnings ratio of 10.81, a P/E/G ratio of 1.06 and a beta of 1.05.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Friday, April 20th. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
In related news, EVP Helena Foulkes sold 19,965 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the transaction, the executive vice president now directly owns 65,072 shares in the company, valued at $4,622,714.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC boosted its stake in CVS Health by 330.3% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 991 shares during the last quarter. Fieldpoint Private Securities LLC boosted its stake in CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares during the last quarter. Wagner Wealth Management LLC purchased a new position in CVS Health in the fourth quarter valued at about $114,000. Arcadia Investment Management Corp MI boosted its stake in CVS Health by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after acquiring an additional 726 shares during the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new position in CVS Health in the second quarter valued at about $119,000. Institutional investors and hedge funds own 83.97% of the company’s stock.
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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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