Credit Suisse Group AG Reaffirms “Buy” Rating for CVS Health Corporation (CVS)

Credit Suisse Group AG Reaffirms “Buy” Rating for CVS Health Corporation (CVS)

Credit Suisse Group AG reiterated their buy rating on shares of CVS Health Corporation (NYSE:CVS) in a report issued on Monday morning.

Several other research analysts also recently weighed in on CVS. Morgan Stanley reaffirmed a hold rating and issued a $104.00 target price on shares of CVS Health Corporation in a report on Monday, September 12th. Mizuho reaffirmed a buy rating and issued a $111.00 target price on shares of CVS Health Corporation in a report on Friday, September 30th. Leerink Swann reaffirmed an outperform rating and issued a $105.00 target price (down previously from $110.00) on shares of CVS Health Corporation in a report on Sunday, October 2nd. Robert W. Baird dropped their target price on shares of CVS Health Corporation from $114.00 to $104.00 and set an outperform rating for the company in a report on Monday, October 3rd. Finally, Vetr downgraded shares of CVS Health Corporation from a strong-buy rating to a hold rating and set a $87.73 target price for the company. in a report on Thursday, October 6th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $101.36.

Shares of CVS Health Corporation (NYSE:CVS) opened at 78.79 on Monday. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $106.67. The firm’s 50-day moving average price is $77.50 and its 200-day moving average price is $89.02. The stock has a market cap of $84.02 billion, a P/E ratio of 16.89 and a beta of 0.84.

CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings data on Tuesday, November 8th. The pharmacy operator reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.07. CVS Health Corporation had a net margin of 2.96% and a return on equity of 17.18%. The firm earned $44.60 billion during the quarter, compared to the consensus estimate of $45.29 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities analysts predict that CVS Health Corporation will post $5.81 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 2nd. Investors of record on Tuesday, January 24th will be given a $0.50 dividend. This is a positive change from CVS Health Corporation’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, January 20th. CVS Health Corporation’s dividend payout ratio is 36.40%.

A number of hedge funds have recently bought and sold shares of CVS. BlackRock Institutional Trust Company N.A. raised its stake in CVS Health Corporation by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 29,453,560 shares of the pharmacy operator’s stock worth $2,621,072,000 after buying an additional 230,250 shares during the period. Northern Trust Corp increased its position in shares of CVS Health Corporation by 1.9% in the third quarter. Northern Trust Corp now owns 14,838,468 shares of the pharmacy operator’s stock worth $1,320,476,000 after buying an additional 277,497 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of CVS Health Corporation by 48.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 14,400,092 shares of the pharmacy operator’s stock worth $1,281,464,000 after buying an additional 4,699,619 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of CVS Health Corporation by 1.9% in the third quarter. BlackRock Fund Advisors now owns 13,392,191 shares of the pharmacy operator’s stock worth $1,191,771,000 after buying an additional 250,517 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of CVS Health Corporation by 8.2% in the third quarter. Nordea Investment Management AB now owns 12,604,241 shares of the pharmacy operator’s stock worth $1,121,651,000 after buying an additional 959,810 shares in the last quarter. 80.19% of the stock is currently owned by institutional investors.

About CVS Health Corporation

Related posts

Leave a Comment