CVS Health (NYSE:CVS) has been given a $76.00 price objective by research analysts at Citigroup in a report issued on Monday. The firm presently has a “hold” rating on the pharmacy operator’s stock. Citigroup’s price target would indicate a potential upside of 7.03% from the stock’s previous close.
Several other equities analysts also recently commented on CVS. Wolfe Research downgraded CVS Health from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $89.00 to $82.00 in a report on Monday, August 14th. Robert W. Baird reiterated an “outperform” rating and set a $90.00 price target on shares of CVS Health in a report on Monday, August 14th. Loop Capital initiated coverage on CVS Health in a report on Thursday, August 24th. They set a “hold” rating and a $83.00 price target on the stock. BidaskClub downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of CVS Health in a report on Sunday, September 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. CVS Health has an average rating of “Buy” and an average target price of $86.35.
CVS Health (NYSE CVS) opened at $71.01 on Monday. CVS Health has a twelve month low of $66.45 and a twelve month high of $84.72. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $76,095.96, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 1.29 and a beta of 0.89.
In other news, insider Larry J. Merlo sold 241,150 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total value of $20,032,330.50. Following the completion of the sale, the insider now directly owns 299,255 shares of the company’s stock, valued at $24,859,112.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas M. Moriarty sold 20,547 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $81.17, for a total value of $1,667,799.99. Following the completion of the sale, the executive vice president now directly owns 43,178 shares of the company’s stock, valued at $3,504,758.26. The disclosure for this sale can be found here. Insiders sold 714,125 shares of company stock valued at $58,119,381 over the last three months. 0.61% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Fieldpoint Private Securities LLC lifted its position in CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after purchasing an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC lifted its position in CVS Health by 330.3% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock worth $105,000 after purchasing an additional 991 shares during the period. Arcadia Investment Management Corp MI lifted its position in CVS Health by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after purchasing an additional 726 shares during the period. MPS Loria Financial Planners LLC bought a new position in CVS Health in the second quarter worth $119,000. Finally, Gemmer Asset Management LLC raised its stake in CVS Health by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after acquiring an additional 200 shares in the last quarter. 82.24% of the stock is owned by hedge funds and other institutional investors.
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About CVS Health
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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