A number of other equities analysts also recently weighed in on the stock. BidaskClub downgraded shares of CVS Health Corporation from a hold rating to a sell rating in a research note on Friday, August 25th. Loop Capital initiated coverage on shares of CVS Health Corporation in a research report on Thursday, August 24th. They set a hold rating and a $83.00 target price on the stock. Guggenheim reissued a buy rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Needham & Company LLC reissued a hold rating on shares of CVS Health Corporation in a research report on Sunday, September 10th. Finally, Oppenheimer Holdings, Inc. reissued a buy rating and set a $95.00 target price on shares of CVS Health Corporation in a research report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. CVS Health Corporation currently has an average rating of Buy and a consensus target price of $87.98.
Shares of CVS Health Corporation (NYSE CVS) opened at 68.53 on Friday. CVS Health Corporation has a 12 month low of $68.01 and a 12 month high of $85.49. The stock has a 50 day moving average price of $77.52 and a 200-day moving average price of $78.45. The stock has a market cap of $69.67 billion, a P/E ratio of 13.65 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last announced its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. During the same period in the previous year, the business earned $1.32 EPS. The company’s revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is 39.92%.
In other news, Director Richard J. Swift sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now owns 3,258 shares of the company’s stock, valued at $259,401.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the sale, the chief operating officer now directly owns 119,555 shares of the company’s stock, valued at approximately $9,939,802.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 716,625 shares of company stock valued at $58,318,431. Corporate insiders own 0.61% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pathstone Family Office LLC increased its holdings in shares of CVS Health Corporation by 341.0% in the second quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock valued at $2,353,000 after purchasing an additional 982 shares in the last quarter. Fieldpoint Private Securities LLC increased its holdings in shares of CVS Health Corporation by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 1,000 shares in the last quarter. Arcadia Investment Management Corp MI increased its holdings in shares of CVS Health Corporation by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after purchasing an additional 726 shares in the last quarter. TB Alternative Assets Ltd. acquired a new stake in shares of CVS Health Corporation in the second quarter valued at approximately $121,000. Finally, MPS Loria Financial Planners LLC acquired a new stake in shares of CVS Health Corporation in the second quarter valued at approximately $119,000. 81.64% of the stock is owned by institutional investors.
CVS Health Corporation Company Profile
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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