Royal Bank of Canada Analysts Give CVS Health (CVS) a $100.00 Price Target

Royal Bank of Canada set a $100.00 price objective on CVS Health (NYSE:CVS) in a report published on Wednesday morning. The firm currently has a buy rating on the pharmacy operator’s stock.

A number of other research analysts have also recently commented on the stock. ValuEngine upgraded shares of CVS Health from a sell rating to a hold rating in a research report on Tuesday. Tigress Financial restated a buy rating on shares of CVS Health in a report on Friday, October 26th. Wolfe Research initiated coverage on shares of CVS Health in a report on Thursday, October 25th. They issued a peer perform rating on the stock. Bank of America raised their target price on shares of CVS Health from $86.00 to $90.00 and gave the stock a buy rating in a report on Monday, September 17th. Finally, Leerink Swann set a $80.00 target price on shares of CVS Health and gave the stock an outperform rating in a report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $89.38.

NYSE CVS traded down $0.22 on Wednesday, reaching $79.83. 5,761,328 shares of the company’s stock traded hands, compared to its average volume of 8,350,557. CVS Health has a 12 month low of $60.14 and a 12 month high of $83.88. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.44 and a quick ratio of 1.87. The stock has a market capitalization of $80.25 billion, a P/E ratio of 13.53, a PEG ratio of 1.05 and a beta of 0.98.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. The business had revenue of $47.27 billion for the quarter, compared to analysts’ expectations of $47.22 billion. During the same period last year, the business earned $1.50 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts expect that CVS Health will post 7.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Tuesday, October 23rd. CVS Health’s dividend payout ratio is 33.90%.

In other news, EVP Eva C. Boratto sold 13,311 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.16, for a total value of $1,027,076.76. Following the transaction, the executive vice president now owns 55,162 shares in the company, valued at $4,256,299.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $75.00, for a total value of $642,300.00. Following the completion of the sale, the executive vice president now directly owns 12,135 shares of the company’s stock, valued at approximately $910,125. The disclosure for this sale can be found here. Insiders sold 43,409 shares of company stock worth $3,392,097 in the last 90 days. Company insiders own 0.53% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its stake in CVS Health by 3.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 653,659 shares of the pharmacy operator’s stock worth $49,225,000 after acquiring an additional 20,715 shares during the period. Sustainable Insight Capital Management LLC purchased a new stake in CVS Health in the third quarter worth $1,176,000. CIBC World Markets Inc. lifted its stake in CVS Health by 7.3% in the third quarter. CIBC World Markets Inc. now owns 240,356 shares of the pharmacy operator’s stock worth $18,921,000 after acquiring an additional 16,304 shares during the period. FMR LLC lifted its stake in CVS Health by 4.3% in the third quarter. FMR LLC now owns 30,069,260 shares of the pharmacy operator’s stock worth $2,367,052,000 after acquiring an additional 1,250,473 shares during the period. Finally, FIL Ltd lifted its stake in CVS Health by 72.1% in the third quarter. FIL Ltd now owns 2,157,590 shares of the pharmacy operator’s stock worth $169,845,000 after acquiring an additional 903,890 shares during the period. 82.42% of the stock is owned by institutional investors.

CVS Health Company Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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Analyst Recommendations for CVS Health (NYSE:CVS)

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