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.
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 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.
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