CVS Health (CVS) PT Raised to $85.00 at Needham & Company LLC

CVS Health (NYSE:CVS) had its target price hoisted by Needham & Company LLC from $79.00 to $85.00 in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 19.70% from the stock’s current price.

A number of other research analysts also recently weighed in on CVS. Citigroup cut their price objective on CVS Health from $88.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, August 17th. Deutsche Bank assumed coverage on CVS Health in a research note on Monday. They issued a “buy” rating and a $90.00 price objective on the stock. Wolfe Research downgraded CVS Health from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $89.00 to $82.00 in a research note on Monday, August 14th. Jefferies Group set a $86.00 price objective on CVS Health and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, Royal Bank Of Canada assumed coverage on CVS Health in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. CVS Health presently has a consensus rating of “Buy” and a consensus target price of $86.35.

Shares of CVS Health (NYSE:CVS) opened at $71.01 on Monday. CVS Health has a one year low of $66.45 and a one year high of $84.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. The firm has a market capitalization of $72,621.40, a PE ratio of 12.56, a PEG ratio of 1.23 and a beta of 0.89.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. During the same period last year, the business earned $1.64 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. equities research analysts anticipate that CVS Health will post 5.9 earnings per share for the current fiscal year.

In other CVS Health news, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.61, for a total value of $7,186,155.87. Following the transaction, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at approximately $5,580,820.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO David M. Denton sold 237,078 shares of CVS Health stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.65, for a total value of $18,883,262.70. Following the completion of the transaction, the chief financial officer now directly owns 141,096 shares in the company, valued at $11,238,296.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 714,125 shares of company stock worth $58,119,381. Company insiders own 0.61% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CVS. Jackson Grant Investment Advisers Inc. grew its holdings in shares of CVS Health by 0.6% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock worth $232,000 after purchasing an additional 18 shares in the last quarter. Keel Point LLC grew its holdings in shares of CVS Health by 0.7% during the 1st quarter. Keel Point LLC now owns 3,296 shares of the pharmacy operator’s stock worth $259,000 after purchasing an additional 22 shares in the last quarter. First City Capital Management Inc. grew its holdings in shares of CVS Health by 0.3% during the 1st quarter. First City Capital Management Inc. now owns 12,771 shares of the pharmacy operator’s stock worth $1,003,000 after purchasing an additional 40 shares in the last quarter. Elefante Mark B grew its holdings in shares of CVS Health by 0.7% during the 2nd quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock worth $515,000 after purchasing an additional 45 shares in the last quarter. Finally, Traynor Capital Management Inc. grew its holdings in shares of CVS Health by 1.3% during the 2nd quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock worth $290,000 after purchasing an additional 48 shares in the last quarter. 82.24% of the stock is currently owned by institutional investors.

WARNING: This article was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://stocknewstimes.com/2017/12/06/cvs-health-cvs-pt-raised-to-85-00-at-needham-company-llc.html.

About CVS Health

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)

Receive News & Ratings for CVS Health Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply