CVS Health (NYSE:CVS) PT Raised to $76.00

CVS Health (NYSE:CVS) had its price objective hoisted by investment analysts at Truist Financial from $66.00 to $76.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the pharmacy operator’s stock. Truist Financial’s price target suggests a potential upside of 14.06% from the company’s previous close.

CVS has been the subject of several other research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Evercore ISI upped their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $63.00 to $82.00 in a report on Thursday. Wells Fargo & Company upped their target price on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.26.

CVS Health Trading Down 0.3 %

NYSE:CVS opened at $66.63 on Friday. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The stock has a market cap of $83.65 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.93 and a beta of 0.54. The business has a fifty day moving average of $59.12 and a 200-day moving average of $61.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter last year, the business posted $2.21 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts predict that CVS Health will post 6.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C acquired a new stake in shares of CVS Health in the second quarter worth $57,584,000. Susquehanna Fundamental Investments LLC lifted its stake in shares of CVS Health by 27.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after buying an additional 145,158 shares during the last quarter. Steph & Co. lifted its stake in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the last quarter. Douglas Lane & Associates LLC lifted its stake in shares of CVS Health by 1.6% in the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after buying an additional 16,840 shares during the last quarter. Finally, First Hawaiian Bank lifted its stake in shares of CVS Health by 30.1% in the second quarter. First Hawaiian Bank now owns 100,302 shares of the pharmacy operator’s stock worth $5,924,000 after buying an additional 23,213 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

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.