Company Update (NYSE:CVS): CVS Pharmacy Now Open in Target Stores Throughout Oregon

[PR Newswire] – WOONSOCKET, R.I., June 8, 2016 /PRNewswire/ — CVS Health (CVS) today announced that the first CVS Pharmacy locations in Target stores are now open in Oregon. The pharmacies, located in several metropolitan areas, including Portland, Eugene and Medford, are being operated through a store-within-a-store format and are branded CVS Pharmacy. “We’re excited to introduce our integrated pharmacy services and health care expertise to Target guests in Oregon,” said Tony Caskey, Area Vice President for CVS Pharmacy. Read more on this. CVS Health Corporation (CVS) , with a current value of $105.59B, started trading this morning at $96.65. A quick look at the market, the company’s stock traded between $96.62 and $98.41 with the price of the stock fluctuating between $81.37 to $113.65 over the last 52 weeks. CVS shares are currently priced at 16.57x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 7.55x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $1.70 per share annually in dividends, yielding 1.77%. According to a consensus of 24 analysts, the earnings estimate of $1.30 per share would be $0.08 better than the year-ago quarter and a $0.05 sequential decrease. Investors should also note that the full-year EPS estimate of $5.83 is a $0.67 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $44.30 Billion. If realized, that would be a 19.18% increase over the year-ago quarter. In terms of ratings, Atlantic Equities Initiated CVS at Overweight (Feb 3, 2016). Previously, Robert W. Baird Initiated CVS at to Outperform. The average price target for CVS shares by the analysts covering the stock is $114.27, which is 18.23% above where the stock opened this morning. See more in (NYSE:CVS) Similar Articles: Stock Update (NYSE:CVS): CVS Pharmacy Now Open in Target Stores Throughout Washington Stock Update: CVS Caremark Corporation (NYSE:CVS) – CVS Pharmacy in Target Locations Now Open in Utah Stock Update: CVS Caremark Corporation (NYSE:CVS) – CVS Health and Target Announce Completed Acquisition of Target’s Pharmacy and Clinic Businesses
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