CVS Health’s (CVS) “Neutral” Rating Reaffirmed at Cantor Fitzgerald

CVS Health (NYSE:CVS)‘s stock had its “neutral” rating reiterated by analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $62.00 price objective on the pharmacy operator’s stock. Cantor Fitzgerald’s target price would indicate a potential downside of 0.39% from the stock’s current price.

A number of other research analysts also recently issued reports on CVS. Evercore ISI decreased their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Barclays lowered their target price on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company raised their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.10.

CVS Health Stock Performance

Shares of CVS stock opened at $62.24 on Tuesday. The firm has a 50 day moving average of $58.44 and a two-hundred day moving average of $61.66. The stock has a market capitalization of $78.13 billion, a PE ratio of 10.94, a P/E/G ratio of 0.81 and a beta of 0.53. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 EPS. On average, research analysts predict that CVS Health will post 6.51 EPS for the current fiscal year.

Institutional Trading of CVS Health

A number of hedge funds have recently added to or reduced their stakes in CVS. Mattson Financial Services LLC purchased a new position in CVS Health during the 2nd quarter worth $1,014,000. Newbridge Financial Services Group Inc. raised its holdings in CVS Health by 82.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 4,096 shares of the pharmacy operator’s stock worth $242,000 after purchasing an additional 1,852 shares in the last quarter. Prio Wealth Limited Partnership lifted its position in CVS Health by 1.1% in the second quarter. Prio Wealth Limited Partnership now owns 57,413 shares of the pharmacy operator’s stock valued at $3,391,000 after purchasing an additional 600 shares during the period. Sanctuary Advisors LLC acquired a new position in CVS Health during the 2nd quarter worth approximately $8,005,000. Finally, Brown Financial Advisors purchased a new position in shares of CVS Health during the 2nd quarter worth approximately $684,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Company Profile

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.