CVS Health’s (CVS) Outperform Rating Reaffirmed at Cowen

Cowen restated their outperform rating on shares of CVS Health (NYSE:CVS) in a research note issued to investors on Thursday morning, The Fly reports. The firm currently has a $99.00 price target on the pharmacy operator’s stock, up from their previous price target of $81.00.

CVS has been the subject of a number of other research reports. Leerink Swann reiterated an outperform rating and issued a $85.00 target price (down previously from $90.00) on shares of CVS Health in a research report on Tuesday, November 7th. Oppenheimer restated a buy rating and set a $95.00 price target on shares of CVS Health in a report on Monday, October 9th. Raymond James Financial upgraded shares of CVS Health from an outperform rating to a strong-buy rating and set a $90.00 price target on the stock in a report on Thursday, January 4th. They noted that the move was a valuation call. SunTrust Banks set a $85.00 price target on shares of CVS Health and gave the company a buy rating in a report on Thursday, October 12th. Finally, Needham & Company LLC restated a hold rating on shares of CVS Health in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. CVS Health presently has a consensus rating of Buy and a consensus price target of $87.25.

Shares of CVS Health (NYSE CVS) opened at $79.86 on Thursday. CVS Health has a 12-month low of $66.45 and a 12-month high of $84.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. The stock has a market cap of $80,900.00, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.26 and a beta of 0.90.

CVS Health (NYSE:CVS) last released its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The company had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. equities analysts expect that CVS Health will post 5.89 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $2.00 annualized dividend and a yield of 2.50%. CVS Health’s dividend payout ratio (DPR) is presently 41.32%.

In related news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the transaction, the executive vice president now owns 15,556 shares in the company, valued at approximately $1,166,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CVS. Vanguard Group Inc. grew its position in CVS Health by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock worth $6,159,825,000 after purchasing an additional 1,056,265 shares during the last quarter. FMR LLC grew its position in CVS Health by 22.0% in the 2nd quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock worth $2,425,920,000 after purchasing an additional 5,446,930 shares during the last quarter. Northern Trust Corp grew its position in CVS Health by 5.5% in the 2nd quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock worth $1,256,631,000 after purchasing an additional 807,639 shares during the last quarter. Nordea Investment Management AB grew its position in CVS Health by 8.4% in the 2nd quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock worth $1,138,905,000 after purchasing an additional 1,100,373 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in CVS Health by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock worth $882,860,000 after purchasing an additional 430,377 shares during the last quarter. Hedge funds and other institutional investors own 81.70% of the company’s stock.

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About CVS Health

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

The Fly

Analyst Recommendations for CVS Health (NYSE:CVS)

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