Jim Cramer Reveals Why CVS Health Corporation (CVS) Is in a Strong Position
Jim Cramer Reveals Why CVS Health Corporation (CVS) Is in a Strong Position.
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We recently published Jim Cramer Discussed These 22 Stocks Including A Hidden Oil & Energy Play . CVS Health Corporation (NYSE:CVS) is one of the stocks discussed by Jim Cramer.
Healthcare insurance provider and pharmacy firm CVS Health Corporation (NYSE:CVS) is another favorite Jim Cramer stock . The shares are up by 61% over the past year and by 29.9% year-to-date. July is an important month for the firm as it reached a $440 million settlement with the Department of Justice in partnership with its Omnicare subsidiary. The settlement was part of an order by a Federal judge that required Omnicare to pay $948 million in damages for filing false claims. As part of its statement released in tandem with the settlement, CVS Health Corporation (NYSE:CVS) outlined that the agreement was not an admission of guilt. The firm added that the settlement was intended to save the costs of long drawn litigation. Cramer discussed RBC Capital's coverage of CVS Health Corporation (NYSE:CVS) where the bank raised the share price target to $113 from $107 and kept an Outperform rating on the stock:
"We talk a lot about tech, but the real bull market here has been for the last year, the UNH managed care insurance business . And today, CVS, price target increased by RBC. Don't forget, we've got Walgreens basically disappearing, we got Rite Aid disappearing, we got CVS redoing the front of the store, and CVS doing a terrific job with Aetna. It doesn't matter, CVS, the UNH, the Humana, it's just monstrous, the price increases."
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