CVS Health (CVS) Upgraded by Morgan Stanley to Overweight

Morgan Stanley upgraded shares of CVS Health (NYSE:CVS) from an equal weight rating to an overweight rating in a report issued on Friday. The firm currently has $88.00 price target on the pharmacy operator’s stock.

A number of other equities analysts also recently commented on CVS. ValuEngine downgraded shares of CVS Health from a buy rating to a hold rating in a research note on Sunday, December 31st. Vetr downgraded shares of CVS Health from a buy rating to a hold rating and set a $77.11 price objective on the stock. in a research note on Thursday. UBS Group upgraded shares of CVS Health from an outperform rating to a strong-buy rating in a research note on Thursday. Needham & Company LLC increased their price objective on shares of CVS Health from $85.00 to $88.00 and gave the company a buy rating in a research note on Tuesday. Finally, Raymond James Financial upgraded shares of CVS Health from an outperform rating to a strong-buy rating and set a $90.00 price objective on the stock in a research note on Thursday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $86.42.

CVS Health (NYSE:CVS) opened at $78.45 on Friday. The company has a market cap of $79,470.00, a PE ratio of 16.21, a P/E/G ratio of 1.32 and a beta of 0.90. CVS Health has a fifty-two week low of $66.45 and a fifty-two week 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.

CVS Health (NYSE:CVS) last issued its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. The business had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 EPS. equities analysts predict that CVS Health will post 5.9 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.55%. CVS Health’s payout ratio is 41.32%.

In related news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the sale, the executive vice president now owns 15,556 shares of the company’s stock, valued at $1,166,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Fieldpoint Private Securities LLC raised its holdings in shares of 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 buying an additional 1,000 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of 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 buying an additional 991 shares during the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of 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 buying an additional 726 shares during the last quarter. MPS Loria Financial Planners LLC purchased a new position in shares of CVS Health in the second quarter worth $119,000. Finally, Gemmer Asset Management LLC raised its holdings in shares of CVS Health by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after buying an additional 200 shares during the last quarter. 81.63% of the stock is owned by institutional investors.

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CVS Health 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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