CVS Health (CVS) Given a $98.00 Price Target by Needham & Company LLC Analysts

CVS Health (NYSE:CVS) has been given a $98.00 target price by Needham & Company LLC in a research note issued on Friday. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. Needham & Company LLC’s target price points to a potential upside of 41.23% from the stock’s current price.

CVS has been the topic of a number of other research reports. Leerink Swann reaffirmed an “outperform” rating and issued a $85.00 target price (down previously from $90.00) on shares of CVS Health in a report on Tuesday, November 7th. Raymond James Financial raised CVS Health from an “outperform” rating to a “strong-buy” rating and set a $90.00 target price on the stock in a report on Thursday, January 4th. They noted that the move was a valuation call. SunTrust Banks set a $85.00 target price on CVS Health and gave the company a “buy” rating in a report on Thursday, October 12th. Citigroup set a $76.00 target price on CVS Health and gave the company a “hold” rating in a report on Monday, December 4th. Finally, Jefferies Group set a $76.00 target price on CVS Health and gave the company a “hold” rating in a report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $87.77.

CVS Health (NYSE:CVS) opened at $69.39 on Friday. CVS Health has a 52 week low of $66.45 and a 52 week high of $84.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 1.02. The company has a market capitalization of $70,291.52, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 1.16 and a beta of 0.93.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 EPS for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.04. The firm had revenue of $48.39 billion for the quarter, compared to analyst estimates of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.71 EPS. equities analysts forecast that CVS Health will post 6.47 earnings per share for the current year.

In related news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the sale, the executive vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Pathstone Family Office LLC raised its position in CVS Health by 341.0% during the 2nd quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock worth $2,353,000 after purchasing an additional 982 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in CVS Health by 330.3% during the 3rd 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 last quarter. Fieldpoint Private Securities LLC raised its position in CVS Health by 333.3% during the 2nd 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 last quarter. Arcadia Investment Management Corp MI raised its position in CVS Health by 119.6% during the 3rd 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 last quarter. Finally, MPS Loria Financial Planners LLC bought a new position in CVS Health during the 2nd quarter worth $119,000. 81.69% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for CVS Health (NYSE:CVS)

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