CVS Health’s (CVS) “Strong-Buy” Rating Reaffirmed at Raymond James

Raymond James reaffirmed their strong-buy rating on shares of CVS Health (NYSE:CVS) in a report published on Wednesday, BenzingaRatingsTable reports. They currently have a $90.00 price target on the pharmacy operator’s stock, up from their previous price target of $80.00.

Several other research analysts also recently issued reports on the company. Bank of America upped their price objective on CVS Health from $72.00 to $75.00 and gave the company a buy rating in a research note on Thursday, September 12th. Royal Bank of Canada began coverage on shares of CVS Health in a research report on Friday, September 27th. They set an outperform rating and a $85.00 target price on the stock. Morgan Stanley boosted their target price on shares of CVS Health from $74.00 to $77.00 and gave the stock an overweight rating in a report on Thursday, September 26th. UBS Group restated a buy rating and issued a $78.00 price target on shares of CVS Health in a research report on Thursday, November 7th. Finally, Cowen set a $76.00 price target on shares of CVS Health and gave the company a buy rating in a research note on Monday, October 21st. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. CVS Health currently has an average rating of Buy and a consensus price target of $77.14.

NYSE:CVS traded down $0.77 on Wednesday, hitting $74.23. The company had a trading volume of 2,755,796 shares, compared to its average volume of 9,867,714. CVS Health has a 52 week low of $51.72 and a 52 week high of $78.06. The company has a current ratio of 0.92, a quick ratio of 0.61 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $97.92 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 1.62 and a beta of 0.88. The firm has a 50 day moving average of $70.72 and a two-hundred day moving average of $61.06.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.07. CVS Health had a net margin of 1.83% and a return on equity of 15.45%. The company had revenue of $64.81 billion during the quarter, compared to the consensus estimate of $62.99 billion. During the same period in the prior year, the business earned $1.73 earnings per share. The company’s revenue for the quarter was up 36.5% compared to the same quarter last year. As a group, equities analysts forecast that CVS Health will post 7.03 EPS for the current year.

In other CVS Health news, CFO Eva C. Boratto sold 8,130 shares of CVS Health stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $65.00, for a total value of $528,450.00. Following the completion of the sale, the chief financial officer now directly owns 55,273 shares of the company’s stock, valued at $3,592,745. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Karen S. Lynch sold 80,143 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $75.00, for a total transaction of $6,010,725.00. Following the transaction, the executive vice president now owns 41,831 shares in the company, valued at approximately $3,137,325. The disclosure for this sale can be found here. Insiders have sold 129,580 shares of company stock worth $9,259,536 in the last ninety days. Insiders own 0.53% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CVS. Ausdal Financial Partners Inc. grew its position in CVS Health by 3.0% in the 3rd quarter. Ausdal Financial Partners Inc. now owns 4,566 shares of the pharmacy operator’s stock worth $288,000 after purchasing an additional 134 shares in the last quarter. Baldwin Brothers Inc. MA increased its position in shares of CVS Health by 1.1% during the third quarter. Baldwin Brothers Inc. MA now owns 14,911 shares of the pharmacy operator’s stock valued at $941,000 after acquiring an additional 165 shares during the last quarter. Mutual Advisors LLC lifted its holdings in CVS Health by 0.8% during the second quarter. Mutual Advisors LLC now owns 20,641 shares of the pharmacy operator’s stock worth $1,125,000 after acquiring an additional 172 shares during the period. Enterprise Financial Services Corp lifted its holdings in CVS Health by 3.7% during the third quarter. Enterprise Financial Services Corp now owns 5,156 shares of the pharmacy operator’s stock worth $325,000 after acquiring an additional 185 shares during the period. Finally, Cleararc Capital Inc. boosted its position in CVS Health by 1.0% in the third quarter. Cleararc Capital Inc. now owns 19,579 shares of the pharmacy operator’s stock worth $1,235,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 76.74% 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.

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Analyst Recommendations for CVS Health (NYSE:CVS)

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