CVS Health (NYSE:CVS) Price Target Increased to $80.00 by Analysts at Raymond James

CVS Health (NYSE:CVS) had its price objective hoisted by equities researchers at Raymond James from $75.00 to $80.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage currently has a “strong-buy” rating on the pharmacy operator’s stock. Raymond James’ price target would suggest a potential upside of 10.39% from the stock’s previous close.

Several other research firms also recently commented on CVS. Evercore ISI set a $63.00 target price on CVS Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Citigroup upped their target price on CVS Health from $72.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their target price on CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Finally, Cowen set a $76.00 target price on CVS Health and gave the company a “buy” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $77.59.

NYSE CVS traded up $0.69 during trading on Thursday, reaching $72.47. 9,079,719 shares of the company’s stock were exchanged, compared to its average volume of 6,966,567. The business has a 50 day moving average price of $64.66 and a 200-day moving average price of $58.54. The stock has a market capitalization of $87.55 billion, a P/E ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.95 and a quick ratio of 0.64. CVS Health has a fifty-two week low of $51.72 and a fifty-two week high of $82.15.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. The firm had revenue of $64.81 billion for the quarter, compared to the consensus estimate of $62.99 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The business’s revenue was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. On average, analysts forecast that CVS Health will post 6.99 earnings per share for the current year.

In related news, EVP Troyen A. Brennan sold 23,604 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the sale, the executive vice president now owns 107,921 shares of the company’s stock, valued at $7,338,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Eva C. Boratto sold 8,130 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $65.00, for a total value of $528,450.00. Following the sale, the chief financial officer now directly owns 55,273 shares in the company, valued at approximately $3,592,745. The disclosure for this sale can be found here. Insiders have sold 49,437 shares of company stock worth $3,248,811 in the last three months. 0.53% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. MUFG Americas Holdings Corp lifted its stake in CVS Health by 33.0% during the third quarter. MUFG Americas Holdings Corp now owns 53,966 shares of the pharmacy operator’s stock worth $3,404,000 after purchasing an additional 13,393 shares during the last quarter. First Allied Advisory Services Inc. lifted its stake in CVS Health by 12.0% during the third quarter. First Allied Advisory Services Inc. now owns 66,850 shares of the pharmacy operator’s stock worth $4,217,000 after purchasing an additional 7,160 shares during the last quarter. Signet Investment Advisory Group Inc. lifted its stake in CVS Health by 4.3% during the third quarter. Signet Investment Advisory Group Inc. now owns 22,692 shares of the pharmacy operator’s stock worth $1,431,000 after purchasing an additional 935 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in CVS Health by 10.8% during the third quarter. Cetera Advisor Networks LLC now owns 46,315 shares of the pharmacy operator’s stock worth $2,914,000 after purchasing an additional 4,533 shares during the last quarter. Finally, Trillium Asset Management LLC lifted its stake in CVS Health by 2.3% during the third quarter. Trillium Asset Management LLC now owns 266,172 shares of the pharmacy operator’s stock worth $16,787,000 after purchasing an additional 6,075 shares during the last quarter. 76.17% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Company Profile

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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