CVS Health (NYSE:CVS) Price Target Increased to $85.00 by Analysts at SunTrust Banks

CVS Health (NYSE:CVS) had its target price hoisted by SunTrust Banks to $85.00 in a report published on Thursday morning, The Fly reports. The brokerage currently has a buy rating on the pharmacy operator’s stock. SunTrust Banks also issued estimates for CVS Health’s Q4 2019 earnings at $1.66 EPS, FY2019 earnings at $7.01 EPS, Q2 2020 earnings at $1.85 EPS, Q3 2020 earnings at $1.83 EPS, Q4 2020 earnings at $1.78 EPS and FY2020 earnings at $7.10 EPS.

A number of other brokerages have also recently commented on CVS. TheStreet raised CVS Health from a c+ rating to a b- rating in a report on Monday, September 9th. Evercore ISI set a $63.00 target price on CVS Health and gave the stock a buy rating in a report on Wednesday, August 7th. Deutsche Bank started coverage on CVS Health in a report on Thursday, September 12th. They issued a buy rating and a $91.00 target price on the stock. ValuEngine raised CVS Health from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada started coverage on CVS Health in a report on Friday, September 27th. They issued an outperform rating and a $85.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $77.59.

Shares of NYSE CVS traded up $0.69 during midday trading on Thursday, hitting $72.47. 9,079,719 shares of the stock traded hands, compared to its average volume of 6,966,567. The firm has a 50-day moving average of $64.66 and a two-hundred day moving average of $58.54. The firm has a market capitalization of $87.55 billion, a P/E ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95. CVS Health has a one year low of $51.72 and a one year high of $82.15.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.07. The firm had revenue of $64.81 billion for the quarter, compared to analysts’ expectations of $62.99 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The company’s revenue was up 36.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. Equities analysts forecast that CVS Health will post 6.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 24th were paid a $0.50 dividend. The ex-dividend date was Wednesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.76%. CVS Health’s payout ratio is presently 28.25%.

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In other news, EVP Troyen A. Brennan sold 23,604 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the completion of the transaction, the executive vice president now owns 107,921 shares in the company, valued at $7,338,628. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Eva C. Boratto sold 8,130 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $65.00, for a total value of $528,450.00. Following the transaction, the chief financial officer now owns 55,273 shares of the company’s stock, valued at approximately $3,592,745. The disclosure for this sale can be found here. Insiders sold a total of 49,437 shares of company stock valued at $3,248,811 in the last quarter. 0.53% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. 1 North Wealth Services LLC bought a new stake in CVS Health in the third quarter worth about $29,000. Executive Wealth Management LLC lifted its stake in CVS Health by 62.4% in the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 217 shares during the last quarter. Manchester Financial Inc. bought a new stake in CVS Health in the second quarter worth about $31,000. Hudock Capital Group LLC lifted its stake in CVS Health by 54.0% in the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 202 shares during the last quarter. Finally, Tarbox Family Office Inc. lifted its stake in CVS Health by 74.7% in the second quarter. Tarbox Family Office Inc. now owns 580 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 248 shares during the last quarter. 76.17% of the stock is owned by hedge funds and other institutional investors.

About CVS Health

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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