Loop Capital Initiates Coverage on CVS Health (NYSE:CVS)

Analysts at Loop Capital initiated coverage on shares of CVS Health (NYSE:CVSGet Rating) in a research note issued to investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the pharmacy operator’s stock.

Several other equities research analysts also recently weighed in on the company. Sanford C. Bernstein downgraded CVS Health from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $122.00 to $112.00 in a research report on Thursday, May 26th. Deutsche Bank Aktiengesellschaft upped their target price on CVS Health from $110.00 to $113.00 in a research report on Thursday, May 5th. StockNews.com began coverage on CVS Health in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Tigress Financial upped their target price on CVS Health from $122.00 to $125.00 in a research report on Thursday, April 7th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $115.84.

NYSE:CVS traded down $1.55 on Thursday, hitting $89.90. 445,071 shares of the stock were exchanged, compared to its average volume of 6,118,532. The stock has a market cap of $117.89 billion, a PE ratio of 14.93, a PEG ratio of 1.47 and a beta of 0.78. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average of $98.57 and a 200-day moving average of $101.43. CVS Health has a fifty-two week low of $79.33 and a fifty-two week high of $111.25.

CVS Health (NYSE:CVSGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 EPS for the quarter, topping the consensus estimate of $2.14 by $0.08. CVS Health had a return on equity of 15.33% and a net margin of 2.67%. The company had revenue of $76.83 billion during the quarter, compared to analyst estimates of $75.30 billion. During the same period in the prior year, the firm posted $2.04 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. As a group, analysts predict that CVS Health will post 8.33 earnings per share for the current year.

In related news, EVP Prem S. Shah sold 16,954 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $105.00, for a total value of $1,780,170.00. Following the sale, the executive vice president now directly owns 43,453 shares in the company, valued at approximately $4,562,565. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel P. Finke sold 55,359 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $100.13, for a total value of $5,543,096.67. Following the completion of the sale, the executive vice president now owns 3,098 shares in the company, valued at $310,202.74. The disclosure for this sale can be found here. Insiders have sold a total of 77,659 shares of company stock worth $7,882,993 over the last quarter. Insiders own 0.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Insight Advisors LLC PA boosted its stake in CVS Health by 64.1% during the 1st quarter. Insight Advisors LLC PA now owns 5,491 shares of the pharmacy operator’s stock valued at $555,000 after purchasing an additional 2,144 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in CVS Health by 13.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 186,557 shares of the pharmacy operator’s stock valued at $18,881,000 after purchasing an additional 22,462 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in CVS Health by 0.3% during the 1st quarter. Kestra Private Wealth Services LLC now owns 72,456 shares of the pharmacy operator’s stock valued at $7,333,000 after purchasing an additional 246 shares in the last quarter. Fortitude Advisory Group L.L.C. boosted its stake in CVS Health by 6.7% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 4,252 shares of the pharmacy operator’s stock valued at $430,000 after purchasing an additional 268 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of CVS Health by 13.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,065 shares of the pharmacy operator’s stock worth $209,000 after acquiring an additional 251 shares in the last quarter. 78.00% of the stock is owned by hedge funds and other institutional investors.

CVS Health Company Profile (Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

Recommended Stories

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.