CVS Health (CVS) Coverage Initiated at Guggenheim

Guggenheim began coverage on shares of CVS Health (NYSE:CVS) in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $75.00 price objective on the pharmacy operator’s stock.

Several other analysts also recently issued reports on the company. CIBC restated a market perform rating on shares of CVS Health in a research note on Monday, April 15th. Oppenheimer downgraded CVS Health from an outperform rating to a market perform rating in a research note on Monday, April 15th. Barclays set a $73.00 price target on CVS Health and gave the company a buy rating in a research note on Thursday, April 11th. BMO Capital Markets assumed coverage on CVS Health in a research note on Wednesday, April 10th. They issued an outperform rating and a $58.00 price target for the company. Finally, SunTrust Banks reduced their price target on CVS Health from $85.00 to $65.00 in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $79.15.

CVS stock opened at $52.63 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.65 and a debt-to-equity ratio of 1.22. The company has a market cap of $68.34 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 1.03 and a beta of 0.94. CVS Health has a 1-year low of $51.77 and a 1-year high of $82.15.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.07. The business had revenue of $54.42 billion for the quarter, compared to analyst estimates of $53.78 billion. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.92 EPS. Equities analysts forecast that CVS Health will post 6.79 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.80%. CVS Health’s payout ratio is 28.25%.

In other news, insider Larry J. Merlo sold 166,368 shares of the company’s 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 available through this hyperlink. Also, Director David W. Dorman bought 9,600 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were bought at an average price of $52.71 per share, with a total value of $506,016.00. Following the completion of the transaction, the director now owns 122,302 shares in the company, valued at approximately $6,446,538.42. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 23,600 shares of company stock valued at $1,270,896 and have sold 245,671 shares valued at $15,839,966. Corporate insiders own 0.53% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of CVS Health by 22.0% during the 4th quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock worth $6,090,409,000 after buying an additional 16,757,941 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of CVS Health by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after buying an additional 1,445,887 shares during the last quarter. Vanguard Group Inc lifted its position in shares of CVS Health by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 84,873,814 shares of the pharmacy operator’s stock worth $6,681,267,000 after buying an additional 1,445,887 shares during the last quarter. FMR LLC lifted its position in shares of CVS Health by 30.6% during the 4th quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock worth $2,572,528,000 after buying an additional 9,194,005 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of CVS Health by 6,858.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock worth $383,000 after buying an additional 24,728,818 shares during the last quarter. Hedge funds and other institutional investors own 81.55% of the company’s stock.

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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