CVS Health Corp (CVS) Stock Rating Reaffirmed by Loop Capital

CVS Health Corp (NYSE:CVS)‘s stock had its “hold” rating restated by investment analysts at Loop Capital in a research report issued on Friday.

CVS has been the topic of a number of other research reports. Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corp in a research note on Monday, July 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health Corp in a research note on Sunday, September 10th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $95.00 target price on shares of CVS Health Corp in a research note on Monday, October 9th. Citigroup Inc. decreased their target price on shares of CVS Health Corp from $88.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, August 17th. Finally, BidaskClub cut shares of CVS Health Corp from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. CVS Health Corp currently has an average rating of “Buy” and a consensus price target of $87.98.

Shares of CVS Health Corp (NYSE:CVS) traded down 5.89% on Friday, reaching $68.99. The company’s stock had a trading volume of 32,616,296 shares. The firm has a 50 day moving average of $78.14 and a 200 day moving average of $78.59. The company has a market cap of $70.13 billion, a PE ratio of 13.74 and a beta of 0.92. CVS Health Corp has a 52-week low of $68.16 and a 52-week high of $84.89.

CVS Health Corp (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The firm had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corp had a net margin of 2.40% and a return on equity of 12.90%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Analysts predict that CVS Health Corp will post $5.88 earnings per share for the current year.

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In other news, CFO David M. Denton sold 237,078 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the transaction, the chief financial officer now owns 141,096 shares in the company, valued at $11,238,296.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total transaction of $199,050.00. Following the transaction, the director now owns 3,258 shares in the company, valued at approximately $259,401.96. The disclosure for this sale can be found here. Insiders have sold 716,625 shares of company stock worth $58,318,431 in the last quarter. Company insiders own 0.61% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Horan Capital Advisors LLC. raised its holdings in shares of CVS Health Corp by 3.2% during the second quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock valued at $2,584,000 after purchasing an additional 1,000 shares during the period. Community Bank N.A. raised its holdings in shares of CVS Health Corp by 7.3% during the second quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock valued at $1,608,000 after purchasing an additional 1,362 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of CVS Health Corp by 3.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock valued at $13,840,000 after purchasing an additional 5,478 shares during the period. Midwest Investment Management LLC raised its holdings in shares of CVS Health Corp by 6.2% during the second quarter. Midwest Investment Management LLC now owns 21,382 shares of the pharmacy operator’s stock valued at $1,720,000 after purchasing an additional 1,245 shares during the period. Finally, Fiduciary Trust Co. raised its holdings in shares of CVS Health Corp by 1.2% during the first quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock valued at $28,732,000 after purchasing an additional 4,265 shares during the period. Hedge funds and other institutional investors own 81.59% of the company’s stock.

About CVS Health Corp

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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