SunTrust Banks Increases CVS Health (NYSE:CVS) Price Target to $85.00

CVS Health (NYSE:CVS) had its price target increased by SunTrust Banks to $85.00 in a report issued on Thursday, The Fly reports. The brokerage currently has a buy rating on the pharmacy operator’s stock. SunTrust Banks also issued estimates for CVS Health’s Q4 2019 earnings at $1.66 EPS, FY2019 earnings at $7.01 EPS, Q2 2020 earnings at $1.85 EPS, Q3 2020 earnings at $1.83 EPS, Q4 2020 earnings at $1.78 EPS and FY2020 earnings at $7.10 EPS.

A number of other equities research analysts also recently issued reports on CVS. Citigroup upped their price objective on CVS Health from $72.00 to $83.00 and gave the company a buy rating in a research report on Thursday. They noted that the move was a valuation call. Royal Bank of Canada began coverage on CVS Health in a research report on Friday, September 27th. They set an outperform rating and a $85.00 price objective on the stock. TheStreet upgraded CVS Health from a c+ rating to a b- rating in a research report on Monday, September 9th. Cowen set a $76.00 price objective on CVS Health and gave the company a buy rating in a research report on Monday, October 21st. Finally, Deutsche Bank began coverage on CVS Health in a research report on Thursday, September 12th. They set a buy rating and a $91.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. CVS Health has a consensus rating of Buy and an average target price of $77.59.

CVS Health stock traded up $0.69 during midday trading on Thursday, reaching $72.47. 9,079,719 shares of the stock traded hands, compared to its average volume of 6,966,567. The stock’s fifty day moving average is $64.66 and its 200-day moving average 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 cap of $87.55 billion, a P/E ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39.

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

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 24th were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.76%. CVS Health’s payout ratio is 28.25%.

In other news, CFO Eva C. Boratto sold 8,130 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $65.00, for a total value of $528,450.00. Following the sale, the chief financial officer now directly owns 55,273 shares in the company, valued at $3,592,745. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Joshua Matthew Flum sold 17,703 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $63.00, for a total value of $1,115,289.00. Following the completion of the sale, the executive vice president now owns 36,163 shares in the company, valued at $2,278,269. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,437 shares of company stock worth $3,248,811. Company insiders own 0.53% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CVS. 1 North Wealth Services LLC purchased a new position in CVS Health during the 3rd quarter worth $29,000. Centaurus Financial Inc. boosted its position in CVS Health by 570.8% during the 1st quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 1,387 shares in the last quarter. Manchester Financial Inc. bought a new stake in CVS Health during the 2nd quarter valued at $31,000. Hudock Capital Group LLC boosted its position in CVS Health by 54.0% during the 2nd quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 202 shares in the last quarter. Finally, Executive Wealth Management LLC boosted its position in CVS Health by 62.4% during the 2nd quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 217 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.

Read More: How Do You Calculate Return on Equity (ROE)?

The Fly

Analyst Recommendations for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.