CVS Health (NYSE:CVS) had its price target boosted by SunTrust Banks to $90.00 in a report issued on Friday, The Fly reports. They currently have a buy rating on the pharmacy operator’s stock. SunTrust Banks also issued estimates for CVS Health’s Q4 2017 earnings at $1.88 EPS, FY2017 earnings at $5.89 EPS, Q1 2018 earnings at $1.40 EPS, Q2 2018 earnings at $1.52 EPS, Q3 2018 earnings at $1.44 EPS, FY2018 earnings at $6.30 EPS, Q1 2019 earnings at $1.11 EPS, Q2 2019 earnings at $1.32 EPS and Q3 2019 earnings at $1.56 EPS.
A number of other brokerages have also recently issued reports on CVS. Royal Bank of Canada started coverage on shares of CVS Health in a research note on Tuesday, September 19th. They issued an outperform rating and a $95.00 price objective on the stock. Jefferies Group lifted their price objective on shares of CVS Health from $82.00 to $86.00 and gave the company a hold rating in a research note on Friday, September 15th. Needham & Company LLC reissued a hold rating on shares of CVS Health in a research note on Sunday, September 10th. Oppenheimer reissued a buy rating and issued a $95.00 price objective on shares of CVS Health in a research note on Monday, October 9th. Finally, Mizuho set a $90.00 price objective on shares of CVS Health and gave the company a buy rating in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $86.66.
Shares of CVS Health (NYSE:CVS) opened at $77.77 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. CVS Health has a 1 year low of $66.45 and a 1 year high of $84.72. The firm has a market cap of $78,780.00, a P/E ratio of 16.07, a PEG ratio of 1.38 and a beta of 0.90.
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 issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $2.00 annualized dividend and a yield of 2.57%. CVS Health’s payout ratio is 41.32%.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the transaction, the executive vice president now owns 15,556 shares in the company, valued at $1,166,700. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.61% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC raised its holdings in shares of CVS Health by 333.3% during 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 during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of CVS Health by 330.3% during the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 991 shares during the period. Arcadia Investment Management Corp MI raised its holdings in shares of CVS Health by 119.6% during 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 during the period. MPS Loria Financial Planners LLC acquired a new position in shares of CVS Health during the second quarter valued at about $119,000. Finally, Gemmer Asset Management LLC raised its holdings in shares of CVS Health by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 81.62% of the company’s stock.
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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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