Oppenheimer Maintains a Hold Rating on CVS Health (CVS)

By Carrie Williams

In a report released today, Michael Wiederhorn from Oppenheimer maintained a Hold rating on CVS Health (CVSResearch Report). The company’s shares closed last Tuesday at $61.21.

According to TipRanks.com, Wiederhorn is a top 100 analyst with an average return of 14.3% and a 64.6% success rate. Wiederhorn covers the Healthcare sector, focusing on stocks such as Community Health, Addus Homecare, and HCA Healthcare.

Currently, the analyst consensus on CVS Health is a Strong Buy with an average price target of $83.43.

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Based on CVS Health’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $67.69 billion and net profit of $1.75 billion. In comparison, last year the company earned revenue of $54.91 billion and had a GAAP net loss of $419 million.

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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. 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. The Health Care Benefits segment offers traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioural health, medical management capabilities. The Corporate segment involves in providing management and administrative services. The company was founded by Stanley P. Goldstein and Ralph Hoagland in 1963 and is headquartered in Woonsocket, RI.