CVS Health Corp (NYSE:CVS) Receives Average Recommendation of “Buy” from Brokerages

CVS Health Corp (NYSE:CVS) has received an average recommendation of “Buy” from the twenty-seven brokerages that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $77.14.

Several research firms recently weighed in on CVS. Bank of America raised their price objective on CVS Health from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada assumed coverage on CVS Health in a report on Friday, September 27th. They issued an “outperform” rating and a $85.00 target price for the company. Raymond James reiterated a “strong-buy” rating and issued a $90.00 target price (up from $80.00) on shares of CVS Health in a research report on Wednesday. SunTrust Banks lifted their price target on CVS Health to $85.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Mizuho lifted their price target on CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 8th.

NYSE:CVS traded up $0.88 on Monday, hitting $75.36. The company had a trading volume of 5,061,163 shares, compared to its average volume of 9,826,463. CVS Health has a 52 week low of $51.72 and a 52 week high of $77.03. 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 $98.04 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 1.62 and a beta of 0.88. The firm has a 50 day moving average of $71.11 and a two-hundred day moving average of $61.27.

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

In other CVS Health news, EVP Karen S. Lynch sold 80,143 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 41,831 shares in the company, valued at approximately $3,137,325. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joshua Matthew Flum sold 17,703 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the transaction, the executive vice president now owns 36,163 shares of the company’s stock, valued at approximately $2,278,269. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,580 shares of company stock worth $9,259,536. 0.53% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of CVS. Haverford Trust Co. boosted its position in shares of CVS Health by 3.0% during the 2nd quarter. Haverford Trust Co. now owns 1,578,669 shares of the pharmacy operator’s stock worth $86,022,000 after purchasing an additional 46,182 shares in the last quarter. First Heartland Consultants Inc. boosted its holdings in CVS Health by 1.9% in the second quarter. First Heartland Consultants Inc. now owns 29,437 shares of the pharmacy operator’s stock worth $1,604,000 after acquiring an additional 543 shares in the last quarter. Berkeley Capital Partners LLC boosted its holdings in CVS Health by 8.1% in the second quarter. Berkeley Capital Partners LLC now owns 18,337 shares of the pharmacy operator’s stock worth $999,000 after acquiring an additional 1,380 shares in the last quarter. Corient Capital Partners LLC grew its stake in CVS Health by 9.5% in the second quarter. Corient Capital Partners LLC now owns 33,113 shares of the pharmacy operator’s stock valued at $1,804,000 after acquiring an additional 2,872 shares during the period. Finally, Stone Ridge Asset Management LLC grew its stake in CVS Health by 41.8% in the second quarter. Stone Ridge Asset Management LLC now owns 32,570 shares of the pharmacy operator’s stock valued at $1,775,000 after acquiring an additional 9,600 shares during the period. 76.74% of the stock is currently owned by institutional investors.

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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