CVS Health (NYSE:CVS) Price Target Lowered to $75.00 at Barclays

CVS Health (NYSE:CVS) had its price target reduced by equities researchers at Barclays from $82.00 to $75.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the pharmacy operator’s stock. Barclays‘s target price suggests a potential upside of 33.67% from the stock’s previous close.

A number of other research analysts have also commented on the company. Evercore ISI upped their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Truist Financial raised their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $85.00 in a report on Friday, October 4th. Wells Fargo & Company raised their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $74.58.

CVS Health Trading Down 1.2 %

Shares of CVS Health stock opened at $56.11 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The business has a fifty day simple moving average of $59.88 and a two-hundred day simple moving average of $60.17. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a market capitalization of $70.44 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 0.93 and a beta of 0.54.

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

Institutional Investors Weigh In On CVS Health

Several hedge funds have recently modified their holdings of CVS. Livelsberger Financial Advisory bought a new position in CVS Health in the third quarter valued at about $31,000. Crewe Advisors LLC acquired a new position in shares of CVS Health in the first quarter valued at approximately $40,000. Retirement Group LLC raised its holdings in CVS Health by 54.3% in the 1st quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock valued at $41,000 after buying an additional 182 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in CVS Health during the 3rd quarter worth approximately $33,000. Finally, First Community Trust NA raised its stake in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

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.