CVS Health (NYSE:CVS) Given New $75.00 Price Target at Bank of America

CVS Health (NYSE:CVS) had its price target increased by Bank of America from $72.00 to $75.00 in a report published on Thursday, BenzingaRatingsTable reports. Bank of America currently has a buy rating on the pharmacy operator’s stock.

Several other equities research analysts have also issued reports on the stock. Cowen restated an outperform rating and set a $76.00 price target (up previously from $69.00) on shares of CVS Health in a research note on Tuesday, August 27th. Morgan Stanley reaffirmed a buy rating and issued a $74.00 price objective on shares of CVS Health in a report on Sunday, August 11th. TheStreet raised shares of CVS Health from a c+ rating to a b- rating in a report on Monday. ValuEngine downgraded shares of CVS Health from a sell rating to a strong sell rating in a report on Tuesday, July 2nd. Finally, Standpoint Research raised shares of CVS Health from a hold rating to a buy rating in a report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $75.91.

Shares of CVS stock traded up $0.15 during trading hours on Thursday, hitting $64.05. 350,206 shares of the company were exchanged, compared to its average volume of 7,689,623. The firm has a fifty day simple moving average of $59.26 and a 200 day simple moving average of $55.85. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. CVS Health has a 52-week low of $51.72 and a 52-week high of $82.15. The stock has a market capitalization of $82.71 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 1.39 and a beta of 0.85.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.19. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The company had revenue of $63.43 billion during the quarter, compared to analyst estimates of $62.66 billion. During the same quarter last year, the business posted $1.69 EPS. CVS Health’s quarterly revenue was up 35.2% compared to the same quarter last year. Sell-side analysts anticipate that CVS Health will post 6.96 EPS for the current year.

Large investors have recently made changes to their positions in the business. Nordea Investment Management AB boosted its holdings in CVS Health by 2.8% in the 1st quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock valued at $670,172,000 after purchasing an additional 340,315 shares during the period. Haverford Trust Co. boosted its holdings in CVS Health by 3.0% in the 2nd quarter. Haverford Trust Co. now owns 1,578,669 shares of the pharmacy operator’s stock valued at $86,022,000 after purchasing an additional 46,182 shares during the period. M&R Capital Management Inc. boosted its holdings in CVS Health by 3.0% in the 1st quarter. M&R Capital Management Inc. now owns 130,126 shares of the pharmacy operator’s stock valued at $6,965,000 after purchasing an additional 3,794 shares during the period. Mathes Company Inc. boosted its holdings in CVS Health by 61.0% in the 1st quarter. Mathes Company Inc. now owns 14,250 shares of the pharmacy operator’s stock valued at $769,000 after purchasing an additional 5,400 shares during the period. Finally, World Asset Management Inc boosted its holdings in CVS Health by 23.7% in the 1st quarter. World Asset Management Inc now owns 110,866 shares of the pharmacy operator’s stock valued at $5,979,000 after purchasing an additional 21,261 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Analyst Recommendations for CVS Health (NYSE:CVS)

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