Wells Fargo & Co Increases CVS Health (NYSE:CVS) Price Target to $72.00

CVS Health (NYSE:CVS) had its price objective raised by equities research analysts at Wells Fargo & Co from $62.00 to $72.00 in a research note issued 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 target would indicate a potential downside of 0.65% from the stock’s current price.

Other research analysts have also issued research reports about the stock. SunTrust Banks upped their price target on shares of CVS Health to $85.00 and gave the company a “buy” rating in a research note on Thursday. Mizuho upped their price target on shares of CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a research note on Friday. Raymond James upped their price target on shares of CVS Health from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Thursday. Barclays upped their price target on shares of CVS Health from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Deutsche Bank assumed coverage on shares of CVS Health in a research note on Thursday, September 12th. They set a “buy” rating and a $91.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $77.59.

CVS Health stock traded up $0.69 during mid-day trading on Friday, reaching $72.47. 9,079,719 shares of the company traded hands, compared to its average volume of 6,966,567. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.95 and a quick ratio of 0.64. CVS Health has a fifty-two week low of $51.72 and a fifty-two week high of $82.15. The company has a market capitalization of $87.55 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. The firm’s fifty day moving average is $64.66 and its two-hundred day moving average is $58.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.07. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. During the same quarter in the prior year, the business posted $1.73 EPS. CVS Health’s revenue for the quarter was up 36.5% compared to the same quarter last year. As a group, equities research analysts predict that CVS Health will post 6.99 earnings per share for the current year.

In related news, EVP Troyen A. Brennan sold 23,604 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the sale, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at $7,338,628. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joshua Matthew Flum sold 17,703 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 36,163 shares in the company, valued at $2,278,269. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,437 shares of company stock worth $3,248,811. 0.53% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. MUFG Americas Holdings Corp grew its holdings in CVS Health by 33.0% in the third quarter. MUFG Americas Holdings Corp now owns 53,966 shares of the pharmacy operator’s stock valued at $3,404,000 after purchasing an additional 13,393 shares during the period. First Allied Advisory Services Inc. grew its holdings in CVS Health by 12.0% in the third quarter. First Allied Advisory Services Inc. now owns 66,850 shares of the pharmacy operator’s stock valued at $4,217,000 after purchasing an additional 7,160 shares during the period. Signet Investment Advisory Group Inc. grew its holdings in CVS Health by 4.3% in the third quarter. Signet Investment Advisory Group Inc. now owns 22,692 shares of the pharmacy operator’s stock valued at $1,431,000 after purchasing an additional 935 shares during the period. Cetera Advisor Networks LLC grew its holdings in CVS Health by 10.8% in the third quarter. Cetera Advisor Networks LLC now owns 46,315 shares of the pharmacy operator’s stock valued at $2,914,000 after purchasing an additional 4,533 shares during the period. Finally, Trillium Asset Management LLC grew its holdings in CVS Health by 2.3% in the third quarter. Trillium Asset Management LLC now owns 266,172 shares of the pharmacy operator’s stock valued at $16,787,000 after purchasing an additional 6,075 shares during the period. 76.17% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Company Profile

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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