CVS Health (NYSE:CVS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

CVS Health (NYSE:CVS) had its price objective raised by analysts at Wells Fargo & Company from $68.00 to $73.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the pharmacy operator’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 11.10% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Barclays boosted their price objective on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler dropped their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Royal Bank of Canada dropped their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Truist Financial boosted their target price on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.28.

CVS Health Stock Performance

Shares of CVS Health stock opened at $65.71 on Thursday. The firm’s fifty day simple moving average is $50.90 and its 200-day simple moving average is $56.01. The stock has a market capitalization of $82.68 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.60 and a beta of 0.61. CVS Health has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, equities analysts forecast that CVS Health will post 5.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dodge & Cox increased its stake in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after acquiring an additional 7,075,209 shares during the last quarter. Capital World Investors increased its stake in shares of CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after acquiring an additional 12,819,148 shares during the last quarter. State Street Corp increased its stake in shares of CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after acquiring an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CVS Health by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock valued at $1,211,582,000 after acquiring an additional 689,867 shares during the last quarter. Finally, Capital International Investors increased its stake in shares of CVS Health by 4.8% during the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock valued at $1,196,989,000 after acquiring an additional 1,212,126 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

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.