CVS Health (CVS) Price Target Lowered to $84.00 at Royal Bank of Canada

CVS Health (NYSE:CVS) had its target price dropped by stock analysts at Royal Bank of Canada to $84.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the pharmacy operator’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 27.70% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Mizuho set a $95.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a report on Wednesday, June 13th. ValuEngine downgraded shares of CVS Health from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 8th. Loop Capital set a $68.00 target price on shares of CVS Health and gave the company a “hold” rating in a research note on Monday, May 7th. Bank of America cut their target price on shares of CVS Health from $91.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, April 11th. Finally, Leerink Swann set a $85.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Tuesday, April 10th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $85.98.

CVS Health opened at $65.78 on Friday, according to Marketbeat. The company has a quick ratio of 1.88, a current ratio of 2.37 and a debt-to-equity ratio of 1.59. The firm has a market cap of $71.22 billion, a P/E ratio of 11.15, a PEG ratio of 0.97 and a beta of 1.00. CVS Health has a 1 year low of $60.14 and a 1 year high of $84.00.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.09. The business had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.77 billion. CVS Health had a net margin of 3.59% and a return on equity of 17.45%. CVS Health’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 EPS. equities research analysts expect that CVS Health will post 6.98 earnings per share for the current year.

In other CVS Health news, Director C David Brown II acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 4th. The stock was bought at an average price of $61.99 per share, for a total transaction of $619,900.00. Following the purchase, the director now owns 101,252 shares in the company, valued at approximately $6,276,611.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Walter & Keenan Financial Consulting Co. MI ADV raised its stake in shares of CVS Health by 5.0% in the 4th quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 14,280 shares of the pharmacy operator’s stock valued at $1,035,000 after buying an additional 680 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of CVS Health by 1.6% in the 4th quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 49,006 shares of the pharmacy operator’s stock valued at $3,554,000 after buying an additional 752 shares in the last quarter. Mission Wealth Management LP raised its stake in shares of CVS Health by 28.3% in the 4th quarter. Mission Wealth Management LP now owns 3,445 shares of the pharmacy operator’s stock valued at $250,000 after buying an additional 759 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of CVS Health by 9.3% in the 4th quarter. Cetera Investment Advisers now owns 8,947 shares of the pharmacy operator’s stock valued at $648,000 after buying an additional 765 shares in the last quarter. Finally, M Holdings Securities Inc. raised its stake in shares of CVS Health by 9.4% in the 4th quarter. M Holdings Securities Inc. now owns 9,160 shares of the pharmacy operator’s stock valued at $222,000 after buying an additional 787 shares in the last quarter. Institutional investors own 83.18% of the company’s stock.

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.

The Fly

Analyst Recommendations for CVS Health (NYSE:CVS)

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