Wolfe Research initiated coverage on shares of CVS Health (NYSE:CVS) in a research note released on Thursday, MarketBeat.com reports. The firm issued a peer perform rating on the pharmacy operator’s stock.
CVS has been the topic of several other research reports. Leerink Swann set a $80.00 target price on shares of CVS Health and gave the stock an outperform rating in a report on Thursday, August 9th. Royal Bank of Canada set a $99.00 target price on shares of CVS Health and gave the stock a buy rating in a report on Tuesday. Citigroup reiterated a buy rating and issued a $81.00 target price on shares of CVS Health in a report on Monday, July 9th. ValuEngine downgraded shares of CVS Health from a sell rating to a strong sell rating in a report on Tuesday, September 4th. Finally, Morgan Stanley dropped their target price on shares of CVS Health from $88.00 to $80.00 and set an overweight rating on the stock in a report on Tuesday, July 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. CVS Health presently has a consensus rating of Buy and a consensus target price of $86.18.
CVS traded down $0.55 during trading on Thursday, hitting $70.12. The stock had a trading volume of 8,538,141 shares, compared to its average volume of 8,198,391. The company has a market capitalization of $74.16 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 0.97 and a beta of 1.02. CVS Health has a 12 month low of $60.14 and a 12 month high of $83.88. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.34 and a quick ratio of 1.87.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th will be given a $0.50 dividend. The ex-dividend date is Tuesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.85%. CVS Health’s dividend payout ratio is 33.90%.
In other CVS Health news, EVP Lisa Bisaccia sold 21,534 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,722,720.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $75.00, for a total transaction of $642,300.00. Following the completion of the sale, the executive vice president now owns 12,135 shares in the company, valued at $910,125. The disclosure for this sale can be found here. Insiders sold a total of 43,409 shares of company stock worth $3,392,097 over the last 90 days. Company insiders own 0.53% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Adviser Investments LLC grew its position in CVS Health by 43.3% in the 2nd quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock worth $193,000 after purchasing an additional 905 shares during the last quarter. Keystone Financial Planning Inc. boosted its position in shares of CVS Health by 44.5% during the 2nd quarter. Keystone Financial Planning Inc. now owns 59,038 shares of the pharmacy operator’s stock valued at $3,799,000 after acquiring an additional 18,176 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of CVS Health by 4.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,332,665 shares of the pharmacy operator’s stock valued at $471,857,000 after acquiring an additional 300,887 shares in the last quarter. Waddell & Reed Financial Inc. boosted its position in shares of CVS Health by 21.5% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 993,394 shares of the pharmacy operator’s stock valued at $63,925,000 after acquiring an additional 175,725 shares in the last quarter. Finally, Ronna Sue Cohen boosted its position in shares of CVS Health by 4.0% during the 3rd quarter. Ronna Sue Cohen now owns 59,741 shares of the pharmacy operator’s stock valued at $4,703,000 after acquiring an additional 2,288 shares in the last quarter. Institutional investors own 82.56% 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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