CVS Health (NYSE:CVS) Rating Lowered to Strong Sell at ValuEngine

CVS Health (NYSE:CVS) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday, ValuEngine reports.

Several other research analysts have also weighed in on the stock. Credit Suisse Group reiterated a “hold” rating and set a $75.00 price objective on shares of CVS Health in a report on Thursday, March 19th. Cantor Fitzgerald increased their price objective on shares of CVS Health from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Deutsche Bank increased their price objective on shares of CVS Health from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Citigroup increased their price objective on shares of CVS Health from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CVS Health from $88.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. CVS Health currently has an average rating of “Buy” and a consensus price target of $81.11.

Shares of CVS stock traded down $0.71 during trading hours on Wednesday, hitting $53.64. 19,586,087 shares of the company were exchanged, compared to its average volume of 10,362,791. The firm has a market cap of $69.24 billion, a PE ratio of 10.56, a PEG ratio of 1.15 and a beta of 0.97. CVS Health has a 1 year low of $51.72 and a 1 year high of $77.03. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.30. The firm has a fifty day moving average of $64.55 and a 200 day moving average of $68.44.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The business had revenue of $66.89 billion for the quarter, compared to analyst estimates of $64.01 billion. CVS Health had a net margin of 2.58% and a return on equity of 14.87%. The company’s revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.14 EPS. Analysts expect that CVS Health will post 7.13 earnings per share for the current year.

In related news, COO Jonathan C. Roberts sold 57,563 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $72.63, for a total transaction of $4,180,800.69. Following the completion of the sale, the chief operating officer now owns 102,608 shares of the company’s stock, valued at approximately $7,452,419.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Larry J. Merlo sold 266,476 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $74.79, for a total transaction of $19,929,740.04. Following the completion of the sale, the chief executive officer now directly owns 703,497 shares of the company’s stock, valued at approximately $52,614,540.63. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Signet Financial Management LLC lifted its stake in CVS Health by 8.4% during the third quarter. Signet Financial Management LLC now owns 5,066 shares of the pharmacy operator’s stock worth $363,000 after purchasing an additional 391 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in CVS Health in the fourth quarter valued at $4,290,000. Trilogy Capital Inc. bought a new stake in CVS Health in the fourth quarter valued at $234,000. Bluefin Trading LLC bought a new stake in CVS Health in the fourth quarter valued at $3,720,000. Finally, Alta Capital Management LLC lifted its stake in CVS Health by 8.0% in the fourth quarter. Alta Capital Management LLC now owns 539,522 shares of the pharmacy operator’s stock valued at $40,081,000 after buying an additional 40,161 shares during the last quarter. 77.52% of the stock is owned by 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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Analyst Recommendations for CVS Health (NYSE:CVS)

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