Cantor Fitzgerald Reiterates Buy Rating for CVS Health (CVS)

CVS Health (NYSE:CVS)‘s stock had its “buy” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued on Sunday, AnalystRatings.com reports. They currently have a $80.00 price objective on the pharmacy operator’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 52.00% from the company’s previous close.

Several other research firms have also recently weighed in on CVS. Wells Fargo & Co cut shares of CVS Health from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $104.00 to $68.00 in a research note on Wednesday, February 20th. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 24th. Bank of America reissued a “buy” rating and issued a $92.00 target price on shares of CVS Health in a research note on Thursday, January 3rd. UBS Group decreased their target price on shares of CVS Health from $75.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, February 21st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $91.00 target price on shares of CVS Health in a research note on Thursday, February 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $79.15.

NYSE:CVS opened at $52.63 on Friday. CVS Health has a 1-year low of $51.77 and a 1-year high of $82.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.03 and a quick ratio of 0.65. The firm has a market capitalization of $68.34 billion, a P/E ratio of 7.43, a PEG ratio of 1.03 and a beta of 0.94.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.07. CVS Health had a negative net margin of 0.31% and a positive return on equity of 17.49%. The business had revenue of $54.42 billion during the quarter, compared to analysts’ expectations of $53.78 billion. During the same period last year, the business earned $1.92 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health will post 6.79 EPS for the current year.

In other news, insider Larry J. Merlo sold 166,368 shares of CVS Health stock in a transaction on Friday, February 1st. The stock was sold at an average price of $64.51, for a total transaction of $10,732,399.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director C David Brown II bought 10,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were purchased at an average cost of $53.18 per share, with a total value of $531,800.00. Following the acquisition, the director now directly owns 16,222 shares of the company’s stock, valued at approximately $862,685.96. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 23,600 shares of company stock valued at $1,270,896 and have sold 245,671 shares valued at $15,839,966. Company insiders own 0.53% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bell Rock Capital LLC lifted its holdings in shares of CVS Health by 764.0% during the fourth quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 382 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new stake in shares of CVS Health during the fourth quarter worth $30,000. Acima Private Wealth LLC acquired a new stake in shares of CVS Health during the fourth quarter worth $33,000. Murphy Pohlad Asset Management LLC acquired a new stake in shares of CVS Health during the fourth quarter worth $39,000. Finally, Cornerstone Advisors Inc. lifted its holdings in shares of CVS Health by 71.6% during the third quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock worth $40,000 after buying an additional 212 shares in the last quarter. 81.55% of the stock is owned by institutional investors.

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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