CVS Health (CVS) Price Target Lowered to $65.00 at SunTrust Banks

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CVS Health (NYSE:CVS) had its target price reduced by equities research analysts at SunTrust Banks from $85.00 to $65.00 in a note issued to investors on Wednesday, The Fly reports. SunTrust Banks’ target price suggests a potential upside of 20.69% from the stock’s current price.

A number of other analysts also recently commented on the company. Leerink Swann initiated coverage on CVS Health in a research note on Tuesday, December 11th. They issued an “outperform” rating on the stock. Barclays initiated coverage on CVS Health in a research note on Tuesday, December 18th. They issued an “overweight” rating and a $91.00 price objective on the stock. Bank of America reissued a “buy” rating and issued a $92.00 price objective on shares of CVS Health in a research note on Thursday, January 3rd. Cantor Fitzgerald reissued a “buy” rating and issued a $96.00 price objective on shares of CVS Health in a research note on Thursday, January 3rd. Finally, UBS Group initiated coverage on CVS Health in a research note on Thursday, January 17th. They issued a “buy” rating and a $75.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $81.94.

CVS Health stock traded up $0.13 during mid-day trading on Wednesday, hitting $53.86. 10,725,252 shares of the company’s stock traded hands, compared to its average volume of 13,356,846. 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 company has a market capitalization of $69.68 billion, a P/E ratio of 7.61, a PEG ratio of 1.05 and a beta of 0.94. CVS Health has a one year low of $51.77 and a one year high of $82.15.

CVS Health (NYSE:CVS) last announced 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. The firm had revenue of $54.42 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.92 EPS. On average, research analysts expect that CVS Health will post 6.8 earnings per share for the current fiscal year.

In other news, insider Larry J. Merlo sold 166,368 shares of the business’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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jonathan C. Roberts sold 77,639 shares of the business’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $64.54, for a total value of $5,010,821.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 23,600 shares of company stock worth $1,270,896 and have sold 245,671 shares worth $15,839,966. 0.53% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in CVS. CI Investments Inc. grew its holdings in shares of CVS Health by 0.8% during the third quarter. CI Investments Inc. now owns 4,459,800 shares of the pharmacy operator’s stock valued at $351,075,000 after buying an additional 36,400 shares in the last quarter. GFS Advisors LLC grew its holdings in shares of CVS Health by 40.8% during the third quarter. GFS Advisors LLC now owns 68,698 shares of the pharmacy operator’s stock valued at $5,408,000 after buying an additional 19,920 shares in the last quarter. Evercore Wealth Management LLC grew its holdings in shares of CVS Health by 4.9% during the third quarter. Evercore Wealth Management LLC now owns 29,998 shares of the pharmacy operator’s stock valued at $2,361,000 after buying an additional 1,390 shares in the last quarter. Magellan Asset Management Ltd grew its holdings in shares of CVS Health by 711.0% during the third quarter. Magellan Asset Management Ltd now owns 3,463 shares of the pharmacy operator’s stock valued at $273,000 after buying an additional 3,036 shares in the last quarter. Finally, SevenBridge Financial Group LLC grew its holdings in shares of CVS Health by 1,586.7% during the third quarter. SevenBridge Financial Group LLC now owns 17,491 shares of the pharmacy operator’s stock valued at $1,377,000 after buying an additional 16,454 shares in the last quarter. 81.62% of the stock is currently 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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