Cowen and Company Reiterates “$86.00” Price Target for CVS Health Corporation (CVS)

Cowen and Company set a $86.00 price objective on CVS Health Corporation (NYSE:CVS) in a research note released on Sunday. The firm currently has a buy rating on the pharmacy operator’s stock.

Several other analysts have also commented on the company. Loop Capital reissued a hold rating on shares of CVS Health Corporation in a report on Friday, October 27th. Robert W. Baird reissued a hold rating and issued a $77.00 price objective on shares of CVS Health Corporation in a report on Friday, October 27th. Mizuho set a $90.00 price objective on CVS Health Corporation and gave the company a buy rating in a report on Tuesday, October 24th. Jefferies Group LLC set a $86.00 price objective on CVS Health Corporation and gave the company a hold rating in a report on Wednesday, October 18th. Finally, SunTrust Banks, Inc. set a $85.00 price objective on CVS Health Corporation and gave the company a buy rating in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. CVS Health Corporation currently has a consensus rating of Buy and an average target price of $87.98.

CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same period last year, the company earned $1.32 earnings per share. CVS Health Corporation’s quarterly revenue was up 4.5% compared to the same quarter last year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio (DPR) is currently 39.92%.

In other CVS Health Corporation news, EVP Thomas M. Moriarty sold 90,267 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the transaction, the executive vice president now owns 70,102 shares of the company’s stock, valued at $5,580,820.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larry J. Merlo sold 241,150 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total value of $20,032,330.50. Following the transaction, the insider now directly owns 299,255 shares in the company, valued at approximately $24,859,112.85. The disclosure for this sale can be found here. Insiders have sold 716,625 shares of company stock worth $58,318,431 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Horan Capital Advisors LLC. raised its position in CVS Health Corporation by 3.2% in the second quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock valued at $2,584,000 after purchasing an additional 1,000 shares during the period. Community Bank N.A. raised its position in CVS Health Corporation by 7.3% in the second quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock valued at $1,608,000 after purchasing an additional 1,362 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in CVS Health Corporation by 3.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock valued at $13,840,000 after purchasing an additional 5,478 shares during the period. Midwest Investment Management LLC raised its position in CVS Health Corporation by 6.2% in the second quarter. Midwest Investment Management LLC now owns 21,382 shares of the pharmacy operator’s stock valued at $1,720,000 after purchasing an additional 1,245 shares during the period. Finally, Fiduciary Trust Co. raised its position in CVS Health Corporation by 1.2% in the first quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock valued at $28,732,000 after purchasing an additional 4,265 shares during the period. Institutional investors own 81.64% of the company’s stock.

About CVS Health Corporation

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.

Analyst Recommendations for CVS Health Corporation (NYSE:CVS)

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