CVS Health (NYSE:CVS) Given New $116.00 Price Target at Sanford C. Bernstein

CVS Health (NYSE:CVS) had its price target lifted by Sanford C. Bernstein from $111.00 to $116.00 in a research report report published on Tuesday, The Fly reports.

Several other equities analysts have also weighed in on the stock. Tigress Financial increased their price objective on shares of CVS Health from $108.00 to $122.00 and gave the company a buy rating in a report on Thursday, December 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CVS Health from $101.00 to $107.00 and gave the company a buy rating in a report on Friday, November 5th. Seaport Res Ptn restated a buy rating on shares of CVS Health in a report on Wednesday, December 1st. Cowen increased their price objective on shares of CVS Health from $103.00 to $114.00 and gave the company an outperform rating in a report on Friday, December 10th. Finally, Credit Suisse Group increased their price objective on shares of CVS Health from $107.00 to $120.00 and gave the company an outperform rating in a report on Friday, December 10th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CVS Health has an average rating of Buy and an average price target of $112.04.

Shares of CVS stock opened at $106.22 on Tuesday. CVS Health has a 1 year low of $68.02 and a 1 year high of $107.26. The firm’s 50 day moving average is $97.88 and its 200-day moving average is $89.27. The firm has a market capitalization of $140.22 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.65 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.76.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 3rd. The pharmacy operator reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.18. CVS Health had a net margin of 2.66% and a return on equity of 14.16%. The company had revenue of $73.79 billion for the quarter, compared to analyst estimates of $70.52 billion. During the same period in the prior year, the business earned $1.66 earnings per share. CVS Health’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities research analysts forecast that CVS Health will post 8.36 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Investors of record on Friday, January 21st will be issued a dividend of $0.55 per share. This is a boost from CVS Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, January 20th. This represents a $2.20 annualized dividend and a yield of 2.07%. CVS Health’s dividend payout ratio is presently 34.97%.

In related news, EVP Troyen A. Brennan sold 82,757 shares of the stock in a transaction on Tuesday, October 26th. The shares were sold at an average price of $88.00, for a total transaction of $7,282,616.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Troyen A. Brennan sold 28,159 shares of the stock in a transaction on Monday, November 1st. The shares were sold at an average price of $90.00, for a total transaction of $2,534,310.00. The disclosure for this sale can be found here. Insiders have sold 219,786 shares of company stock valued at $20,159,576 in the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of CVS Health by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 107,495,739 shares of the pharmacy operator’s stock worth $8,969,445,000 after buying an additional 1,170,549 shares during the last quarter. BlackRock Inc. lifted its stake in shares of CVS Health by 2.0% during the 2nd quarter. BlackRock Inc. now owns 96,490,010 shares of the pharmacy operator’s stock worth $8,051,125,000 after buying an additional 1,927,510 shares during the last quarter. State Street Corp lifted its stake in shares of CVS Health by 2.6% during the 2nd quarter. State Street Corp now owns 54,535,214 shares of the pharmacy operator’s stock worth $4,550,418,000 after buying an additional 1,362,699 shares during the last quarter. Capital World Investors lifted its stake in shares of CVS Health by 9.7% during the 3rd quarter. Capital World Investors now owns 50,573,988 shares of the pharmacy operator’s stock worth $4,291,833,000 after buying an additional 4,468,246 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of CVS Health by 55.8% during the 2nd quarter. Capital International Investors now owns 27,400,512 shares of the pharmacy operator’s stock worth $2,286,301,000 after buying an additional 9,809,050 shares during the last quarter. Institutional investors own 75.84% of the company’s stock.

CVS Health Company Profile

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

Further Reading: What is Depreciation?

The Fly logo

Analyst Recommendations for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.