CVS Health (NYSE:CVS) Given New $80.00 Price Target at Raymond James

CVS Health (NYSE:CVS) had its price target boosted by Raymond James from $75.00 to $80.00 in a report released on Thursday, The Fly reports. The brokerage currently has a strong-buy rating on the pharmacy operator’s stock.

CVS has been the subject of several other reports. Citigroup raised their target price on CVS Health from $72.00 to $83.00 and gave the stock a buy rating in a research report on Thursday. They noted that the move was a valuation call. Bank of America raised their target price on CVS Health from $72.00 to $75.00 and gave the stock a buy rating in a research report on Thursday, September 12th. SunTrust Banks raised their target price on CVS Health to $85.00 and gave the stock a buy rating in a research report on Thursday. TheStreet raised CVS Health from a c+ rating to a b- rating in a research report on Monday, September 9th. Finally, Deutsche Bank initiated coverage on CVS Health in a research report on Thursday, September 12th. They issued a buy rating and a $91.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $77.59.

Shares of CVS traded up $0.69 during mid-day trading on Thursday, hitting $72.47. The company’s stock had a trading volume of 9,079,719 shares, compared to its average volume of 6,966,567. CVS Health has a one year low of $51.72 and a one year high of $82.15. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95. The firm has a market capitalization of $87.55 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. The stock’s 50-day moving average is $64.66 and its two-hundred day moving average is $58.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.07. The company had revenue of $64.81 billion during the quarter, compared to analysts’ expectations of $62.99 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. CVS Health’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 earnings per share. Analysts expect that CVS Health will post 6.99 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 24th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.76%. CVS Health’s payout ratio is presently 28.25%.

In other CVS Health news, CFO Eva C. Boratto sold 8,130 shares of CVS Health stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $65.00, for a total transaction of $528,450.00. Following the completion of the transaction, the chief financial officer now directly owns 55,273 shares of the company’s stock, valued at $3,592,745. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Troyen A. Brennan sold 23,604 shares of CVS Health stock in a transaction on Monday, November 4th. The shares were sold at an average price of $68.00, for a total value of $1,605,072.00. Following the transaction, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at $7,338,628. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,437 shares of company stock valued at $3,248,811. Company insiders own 0.53% of the company’s stock.

Several large investors have recently made changes to their positions in CVS. Haverford Trust Co. increased its position in CVS Health by 3.0% in the second quarter. Haverford Trust Co. now owns 1,578,669 shares of the pharmacy operator’s stock worth $86,022,000 after purchasing an additional 46,182 shares during the period. First Heartland Consultants Inc. increased its position in CVS Health by 1.9% in the second quarter. First Heartland Consultants Inc. now owns 29,437 shares of the pharmacy operator’s stock worth $1,604,000 after purchasing an additional 543 shares during the period. Berkeley Capital Partners LLC increased its position in CVS Health by 8.1% in the second quarter. Berkeley Capital Partners LLC now owns 18,337 shares of the pharmacy operator’s stock worth $999,000 after purchasing an additional 1,380 shares during the period. Corient Capital Partners LLC increased its position in CVS Health by 9.5% in the second quarter. Corient Capital Partners LLC now owns 33,113 shares of the pharmacy operator’s stock worth $1,804,000 after purchasing an additional 2,872 shares during the period. Finally, Nepsis Inc. acquired a new stake in CVS Health in the second quarter worth about $5,897,000. Institutional investors own 76.17% of the company’s stock.

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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