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CVS Health (NYSE:CVS) Receives a Hold from Needham

Needham Analyst Rating Change CVS Health NYSE:CVS

CVS Health (NYSE:CVS) New Coverage by Needham

Needham has initiated its coverage on Cvs Health (NYSE:CVS), today Wednesday, 28 June. The research firm finds the stock of CVS Health (NYSE:CVS) attractive and has given it Hold rating.

The initiation is welcomed by stock traders, as NYSE:CVS is currently trading 0.46% higher at $80.49 as of 12:02 AM New York time. CVS Health’s stock is 0% in the last 200 days. It has underperformed the S&P500, which has added 6.00% in the same time period.

According to data compiled by Thomson Reuters, CVS Health (NYSE:CVS)’s stock is covered by 20 equity analysts across the Street, with 0 analysts giving it a Sell rating, 22 a Buy rating, while 4 consider it a Hold. The 12-month consensus target price for the stock is $113.6, which reflects an upside potential of 41.14% over the current price.

Institutional Ownership

Cortland Associates Inc Mo had the biggest stake with ownership of 543,007 shares as of Q2 2015 for 9.8% of the stock exposure. Kdi Capital Partners Llc is another notably bullish active investment manager who is owning 260,169 shares of CVS Health or 8.87% of their stock exposure. Further, Grisanti Capital Management Llc have 8.76% of their stock exposure invested in the company for 203,650 shares. The United Kingdom-based fund Veritas Investment Management Llp disclosed it had purchased so far a stake worth about 8.69% of the active investment manager’s stock portfolio in CVS Health. The Illinois-based fund Dsc Advisors L.P. is also positive about the stock, possessing 520,166 shares or 8.21% of their stock exposure.

CVS Health (NYSE:CVS) Profile

CVS Caremark CorpCVS 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. It operates through three segments: Pharmacy Services, Retail/LTC and Corporate.

CVS Health (NYSE:CVS) traded up 0.46% on 28 June, hitting $80.49. A total of 8.97 million shares of the company’s stock traded hands. This is up from average of 6.92 million shares. CVS Health has a 52 week low of $69.30 and a 52 week high of $98.66. The company has a market cap of $84.87 billion and a P/E ratio of 16.69.

Get the latest CVS Health (NYSE:CVS) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post CVS Health (NYSE:CVS) Receives a Hold from Needham appeared first on Octafinance.



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