Morgan Stanley Downgrades CVS Health Corp to Equal-weight with Price Target $104.00

Brokerage firm Morgan Stanley Downgrades its rating on CVS Health Corp(NYSE:CVS). In a research note issued to the investors, the brokerage major Lowers the price-target to $104.00 per share. The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Jun 20, 2016.

In a different note, On May 12, 2016, Jefferies said it Maintains its rating on CVS Health Corp. In the research note, the firm Raises the price-target to $110.00 per share. The shares have been rated ‘Buy’ by the firm. On May 9, 2016, Citigroup said it Maintains its rating on CVS Health Corp. In the research note, the firm Raises the price-target to $105.00 per share. The shares have been rated ‘Neutral’ by the firm.

CVS Health Corp (CVS) shares turned negative on Fridays trading session with the shares closing down -0.48 points or -0.51% at a volume of 86,52,687. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $94.52. The peak price level was also seen at $94.52 while the days lowest was $91.75. Finally the shares closed at $93.54. The 52-week high of the shares is $113.65 while the 52-week low is $81.37. According to the latest information available, the market cap of the company is $100,464 M.

CVS Health Corp(CVS) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $43.22B. Analysts had an estimated revenue of $43.01B. Earnings per share were $1.18. Analysts had estimated an EPS of $1.16.

Several Insider Transactions has been reported to the SEC. On May 6, 2016, Larry J Merlo (President and CEO) sold 38,247 shares at $105.00 per share price.Also, 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.

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