CVS Health (NYSE:CVS) Price Target Cut to $63.00 by Analysts at Barclays

CVS Health (NYSE:CVS) had its price target decreased by research analysts at Barclays from $65.00 to $63.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the pharmacy operator’s stock. Barclays‘s price objective points to a potential upside of 10.31% from the stock’s current price.

A number of other research firms also recently weighed in on CVS. Truist Financial reissued a “buy” rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. SVB Leerink reissued a “market perform” rating and issued a $60.00 target price (down previously from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Mizuho reduced their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI cut their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company reduced their target price on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 7th. Twelve equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.19.

CVS Health Stock Down 1.3 %

Shares of NYSE CVS traded down $0.74 on Thursday, hitting $57.11. The company had a trading volume of 8,345,205 shares, compared to its average volume of 11,546,901. The firm has a market capitalization of $71.69 billion, a P/E ratio of 10.04, a PEG ratio of 0.57 and a beta of 0.52. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health has a 12-month low of $52.77 and a 12-month high of $83.25. The business has a 50 day moving average of $59.45 and a two-hundred day moving average of $66.19.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the previous year, the business posted $2.21 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts forecast that CVS Health will post 7 earnings per share for the current fiscal year.

Institutional Trading of CVS Health

Several hedge funds have recently added to or reduced their stakes in CVS. USA Financial Formulas raised its stake in shares of CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health during the 4th quarter worth about $32,000. First Community Trust NA lifted its stake in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the period. Creekmur Asset Management LLC bought a new position in shares of CVS Health in the fourth quarter valued at approximately $34,000. Finally, Steph & Co. increased its stake in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the period. Institutional investors own 80.66% of the company’s stock.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.