Deutsche Bank Begins Coverage on CVS Health (CVS)

Deutsche Bank started coverage on shares of CVS Health (NYSE:CVS) in a research report sent to investors on Monday, Marketbeat.com reports. The firm issued a buy rating and a $90.00 price target on the pharmacy operator’s stock.

CVS has been the subject of several other reports. Needham & Company LLC reiterated a hold rating on shares of CVS Health in a research note on Sunday, September 10th. Oppenheimer reiterated a buy rating and set a $95.00 price objective on shares of CVS Health in a research note on Monday, October 9th. Leerink Swann reiterated an outperform rating and set a $85.00 price objective (down from $90.00) on shares of CVS Health in a research note on Tuesday, November 7th. BidaskClub downgraded shares of CVS Health from a hold rating to a sell rating in a research note on Friday, August 25th. Finally, SunTrust Banks set a $85.00 price objective on shares of CVS Health and gave the stock a buy rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. CVS Health currently has a consensus rating of Buy and an average price target of $86.35.

Shares of CVS Health (NYSE CVS) opened at $71.38 on Monday. The firm has a market cap of $71,932.56, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.22 and a beta of 0.89. CVS Health has a one year low of $66.45 and a one year high of $84.72. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67.

CVS Health (NYSE:CVS) last announced its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. 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 firm earned $1.64 earnings per share. CVS Health’s revenue was up 3.5% compared to the same quarter last year. equities research analysts anticipate that CVS Health will post 5.9 EPS for the current year.

In related news, CFO David M. Denton sold 237,078 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the completion of the transaction, the chief financial officer now owns 141,096 shares of the company’s stock, valued at $11,238,296.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.61, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 714,125 shares of company stock valued at $58,119,381. 0.61% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. Fieldpoint Private Securities LLC increased its holdings in CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 1,000 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in CVS Health by 330.3% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 991 shares in the last quarter. Arcadia Investment Management Corp MI increased its holdings in CVS Health by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after buying an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in CVS Health in the second quarter valued at $119,000. Finally, Gemmer Asset Management LLC increased its holdings in CVS Health by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares in the last quarter. 82.24% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This piece was posted by Markets Daily and is the sole property of of Markets Daily. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://www.themarketsdaily.com/2017/12/07/deutsche-bank-begins-coverage-on-cvs-health-cvs.html.

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)

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