CVS Health (NYSE:CVS) Given New $71.00 Price Target at Robert W. Baird

CVS Health (NYSE:CVS - Get Free Report) had its price target raised by equities research analysts at Robert W. Baird from $51.00 to $71.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the pharmacy operator's stock. Robert W. Baird's target price would suggest a potential upside of 5.68% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Argus set a $77.00 price objective on CVS Health in a report on Tuesday, February 18th. Mizuho upped their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a research note on Thursday, February 13th. Leerink Partners upgraded shares of CVS Health from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Finally, Piper Sandler lifted their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $71.83.

CVS Health Stock Performance

Shares of NYSE CVS traded down $1.37 during midday trading on Tuesday, reaching $67.19. 16,054,208 shares of the company were exchanged, compared to its average volume of 11,804,494. The stock has a fifty day simple moving average of $66.22 and a 200 day simple moving average of $58.76. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock has a market cap of $84.71 billion, a P/E ratio of 18.36, a PEG ratio of 0.98 and a beta of 0.57. CVS Health has a 1 year low of $43.56 and a 1 year high of $71.45.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, research analysts forecast that CVS Health will post 5.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP James David Clark sold 7,513 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares of the company's stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company's stock.

Hedge Funds Weigh In On CVS Health

Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of CVS Health in the 4th quarter worth $839,574,000. Capital World Investors lifted its stake in shares of CVS Health by 26.6% in 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 purchasing an additional 12,819,148 shares in the last quarter. Davis Selected Advisers increased its position in CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock worth $511,115,000 after purchasing an additional 11,018,438 shares in the last quarter. Dodge & Cox raised its holdings in CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after buying an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC lifted its position in CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after buying an additional 6,475,271 shares in 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.