Cantor Fitzgerald Initiates Coverage on CVS Health (CVS)

Analysts at Cantor Fitzgerald assumed coverage on shares of CVS Health (NYSE:CVS) in a research note issued to investors on Sunday. The brokerage set an “overweight” rating and a $77.84 price target on the pharmacy operator’s stock. Cantor Fitzgerald’s target price indicates a potential downside of 2.11% from the company’s previous close. Cantor Fitzgerald also issued estimates for CVS Health’s FY2018 earnings at $7.05 EPS and FY2019 earnings at $7.60 EPS.

A number of other research firms have also recently commented on CVS. Argus lifted their price target on CVS Health to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 13th. Loop Capital set a $80.00 price target on CVS Health and gave the stock a “hold” rating in a report on Wednesday, November 28th. Evercore ISI began coverage on CVS Health in a report on Wednesday, November 28th. They set an “outperform” rating and a $89.00 price target for the company. Goldman Sachs Group reiterated a “neutral” rating and set a $87.00 price target on shares of CVS Health in a report on Thursday, November 29th. Finally, Royal Bank of Canada set a $100.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research report on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $89.93.

CVS Health stock opened at $79.52 on Friday. CVS Health has a 52 week low of $60.14 and a 52 week 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 1.94. The stock has a market cap of $81.71 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The business had revenue of $47.27 billion during the quarter, compared to analysts’ expectations of $47.22 billion. During the same quarter last year, the company posted $1.50 earnings per share. CVS Health’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that CVS Health will post 7.03 EPS for the current year.

In other CVS Health news, EVP Lisa Bisaccia sold 21,534 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,722,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eva C. Boratto sold 13,311 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the sale, the executive vice president now owns 55,162 shares of the company’s stock, valued at $4,256,299.92. The disclosure for this sale can be found here. Insiders have sold 74,233 shares of company stock valued at $5,932,565 over the last 90 days. Company insiders own 0.53% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Aperio Group LLC raised its position in shares of CVS Health by 5.2% in the second quarter. Aperio Group LLC now owns 628,214 shares of the pharmacy operator’s stock valued at $40,426,000 after buying an additional 31,185 shares in the last quarter. Dowling & Yahnke LLC raised its position in shares of CVS Health by 2.5% in the second quarter. Dowling & Yahnke LLC now owns 64,013 shares of the pharmacy operator’s stock valued at $4,119,000 after buying an additional 1,573 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of CVS Health by 42.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 842,260 shares of the pharmacy operator’s stock valued at $54,200,000 after buying an additional 252,116 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of CVS Health by 1.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 70,902 shares of the pharmacy operator’s stock valued at $4,562,000 after buying an additional 1,096 shares in the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management raised its position in shares of CVS Health by 6.9% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 63,060 shares of the pharmacy operator’s stock valued at $4,058,000 after buying an additional 4,051 shares in the last quarter. Hedge funds and other institutional investors own 84.50% of the company’s stock.

About CVS Health

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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