CVS Health Corp (CVS) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jun 20, 2016.
Many Wall Street Analysts have commented on CVS Health Corp. Company shares were Reiterated by Mizuho on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 117 from a previous price target of $104 .Company shares were Reiterated by RBC Capital Mkts on May 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 115 from a previous price target of $110 .
On the company’s financial health, CVS Health Corp reported $1.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 3, 2016. Analyst had a consensus of $1.16. The company had revenue of $43215.00 million for the quarter, compared to analysts expectations of $43000.77 million. The company’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS.
CVS Health Corp closed down -0.69 points or -0.72% at $94.84 with 91,42,716 shares getting traded on Friday. Post opening the session at $95.65, the shares hit an intraday low of $94.47 and an intraday high of $95.68 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on May 6, 2016, Larry J Merlo (President and CEO) sold 38,247 shares at $105.00 per share price. According to the SEC, on May 6, 2016, Troyen A Brennan (EVP and Chief Medical Officer) sold 7,517 shares at $105.00 per share price. On Apr 5, 2016, Andrew Sussman (EVP & Pres, CVS MinuteClinic) sold 2,844 shares at $105.00 per share price, according to the Form-4 filing with the securities and exchange commission.
CVS Health Corporation together with its subsidiaries is a pharmacy company. The Company operates through three business segments: Pharmacy Services Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services Novologix and Navarro Health Services names. The Retail Pharmacy segment sells prescription drugs and an assortment of general merchandise including over-the-counter drugs beauty products and cosmetics personal care products convenience foods photo finishing seasonal merchandise and greeting cards through the Company’s retail stores online retail pharmacy Websites and retail healthcare clinics. The Corporate segment provides management and administrative services to support the overall operations of the Company. The Company through its wholly owned subsidiary Omnicare Inc. provides pharmacy services to long term care facilities.