Edward Jones Upgrades CVS Health (NYSE:CVS) to Buy

CVS Health (NYSE:CVS) was upgraded by investment analysts at Edward Jones from a “hold” rating to a “buy” rating in a research note issued on Monday, The Fly reports.

A number of other brokerages also recently issued reports on CVS. Truist increased their target price on CVS Health from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, January 5th. Seaport Res Ptn restated a “buy” rating on shares of CVS Health in a report on Wednesday, December 1st. Deutsche Bank Aktiengesellschaft upped their price target on CVS Health from $101.00 to $107.00 and gave the stock a “buy” rating in a report on Friday, November 5th. The Goldman Sachs Group began coverage on CVS Health in a report on Tuesday, December 14th. They issued a “buy” rating and a $121.00 price target on the stock. Finally, Credit Suisse Group upped their price target on CVS Health from $107.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 10th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CVS Health currently has an average rating of “Buy” and an average target price of $111.91.

CVS opened at $106.04 on Monday. The company has a market cap of $139.98 billion, a PE ratio of 18.37, a P/E/G ratio of 1.85 and a beta of 0.86. The business has a 50 day moving average price of $96.93 and a two-hundred day moving average price of $88.73. CVS Health has a 52 week low of $68.02 and a 52 week high of $107.26. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 0.76.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 3rd. The pharmacy operator reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.18. The business had revenue of $73.79 billion during the quarter, compared to the consensus estimate of $70.52 billion. CVS Health had a return on equity of 14.16% and a net margin of 2.66%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 EPS. As a group, sell-side analysts expect that CVS Health will post 8.03 EPS for the current fiscal year.

In related news, EVP Troyen A. Brennan sold 28,159 shares of the stock in a transaction on Monday, November 1st. The stock was sold at an average price of $90.00, for a total value of $2,534,310.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jonathan C. Roberts sold 108,870 shares of the stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $95.00, for a total value of $10,342,650.00. The disclosure for this sale can be found here. Insiders have sold 219,786 shares of company stock worth $20,159,576 in the last 90 days. Insiders own 0.69% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC purchased a new position in shares of CVS Health in the 2nd quarter worth $25,000. Bell Investment Advisors Inc purchased a new position in CVS Health in the third quarter valued at about $26,000. Albion Financial Group UT purchased a new position in CVS Health in the second quarter valued at about $40,000. Tower View Investment Management & Research LLC purchased a new position in CVS Health in the third quarter valued at about $42,000. Finally, Strategic Blueprint LLC purchased a new position in CVS Health in the second quarter valued at about $46,000. 75.99% of the stock is currently owned by institutional investors and hedge funds.

About CVS Health

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

See Also: VIX – Volatility Index

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.