CVS Health (NYSE:CVS) Price Target Raised to $80.00

by · The Markets Daily

CVS Health (NYSE:CVS – Free Report) had its price objective increased by Jefferies Financial Group from $74.00 to $80.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the pharmacy operator’s stock.

Several other equities research analysts have also recently weighed in on CVS. Wells Fargo & Company reiterated an “overweight” rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Cowen restated a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Truist Financial upped their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Mizuho upped their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Finally, Piper Sandler upped their price objective on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.06.

Get Our Latest Report on CVS Health

CVS Health Trading Down 4.3%

Shares of CVS opened at $66.62 on Monday. The business’s 50-day moving average price is $65.03 and its 200-day moving average price is $61.17. CVS Health has a twelve month low of $43.56 and a twelve month high of $72.51. The stock has a market cap of $84.28 billion, a PE ratio of 15.90, a P/E/G ratio of 1.00 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS – Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The firm had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same period in the prior year, the business posted $1.31 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that CVS Health will post 5.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Guy P. Sansone acquired 1,570 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the purchase, the director owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is owned by insiders.

Institutional Trading of CVS Health

Institutional investors have recently made changes to their positions in the stock. Hopwood Financial Services Inc. purchased a new stake in shares of CVS Health during the fourth quarter valued at approximately $29,000. Bell Investment Advisors Inc boosted its stake in shares of CVS Health by 119.8% during the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 248 shares during the period. McIlrath & Eck LLC boosted its stake in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Saudi Central Bank purchased a new stake in shares of CVS Health during the first quarter valued at approximately $34,000. Finally, Costello Asset Management INC lifted its stake in CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 422 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Company Profile

(Get Free Report)

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.

Further Reading