CVS Health (NYSE:CVS - Get Free Report) had its price target reduced by analysts at Piper Sandler from $72.00 to $64.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the pharmacy operator's stock. Piper Sandler's price objective indicates a potential upside of 6.49% from the company's previous close.
Several other equities analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a "hold" rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $60.00 to $66.00 in a research note on Monday, November 18th. UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Evercore ISI increased their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. Finally, Mizuho cut their target price on CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.33.
Read Our Latest Report on CVS Health
CVS Health Price Performance
CVS stock traded up $2.09 during trading on Monday, reaching $60.10. The company's stock had a trading volume of 15,613,194 shares, compared to its average volume of 11,378,049. The company's fifty day moving average is $59.21 and its 200-day moving average is $58.63. CVS Health has a 1 year low of $52.71 and a 1 year high of $83.25. The company has a market capitalization of $75.63 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.
CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 earnings per share. On average, research analysts expect that CVS Health will post 5.43 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of CVS. State Street Corp increased its position in shares of CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock valued at $3,554,475,000 after buying an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC increased its stake in CVS Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock worth $1,651,997,000 after buying an additional 461,569 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock valued at $825,948,000 after acquiring an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock valued at $767,681,000 after acquiring an additional 304,386 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock worth $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.
About CVS Health
(
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.
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