CVS Health (NYSE:CVS – Get Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $83.00 to $76.00 in a report released on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the pharmacy operator’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 1.86% from the stock’s previous close.
CVS has been the subject of several other reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a report on Thursday. Royal Bank of Canada reduced their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Barclays initiated coverage on CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target for the company. SVB Leerink initiated coverage on CVS Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective on the stock. Finally, Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.44.
View Our Latest Report on CVS Health
CVS Health Price Performance
Shares of CVS Health stock traded up $0.03 during trading on Monday, reaching $74.61. The company’s stock had a trading volume of 3,092,467 shares, compared to its average volume of 11,136,346. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health has a 12-month low of $64.41 and a 12-month high of $83.25. The company has a market capitalization of $93.89 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 0.99 and a beta of 0.52. The business has a 50 day moving average price of $76.08 and a 200-day moving average price of $73.78.
CVS Health (NYSE:CVS – Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. CVS Health’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.99 earnings per share. As a group, sell-side analysts anticipate that CVS Health will post 8.33 EPS for the current year.
Insiders Place Their Bets
In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.
Institutional Trading of CVS Health
Several hedge funds have recently made changes to their positions in the stock. Bryn Mawr Capital Management LLC increased its position in CVS Health by 74.0% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock valued at $3,017,000 after acquiring an additional 18,385 shares during the period. Value Partners Investments Inc. increased its position in shares of CVS Health by 26.5% during the 3rd quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock valued at $69,261,000 after purchasing an additional 207,702 shares during the period. Sonora Investment Management Group LLC increased its position in shares of CVS Health by 1.6% during the 3rd quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock valued at $3,525,000 after purchasing an additional 774 shares during the period. Checchi Capital Advisers LLC increased its position in shares of CVS Health by 2.3% during the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock valued at $726,000 after purchasing an additional 233 shares during the period. Finally, Personal CFO Solutions LLC increased its position in shares of CVS Health by 2.6% during the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock valued at $1,351,000 after purchasing an additional 491 shares during the period. Institutional investors own 80.66% of the company’s stock.
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.
Read More
Before you consider CVS Health, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and CVS Health wasn’t on the list.
While CVS Health currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Which stocks are major institutional investors including hedge funds and endowments buying in today’s market? Click the link below and we’ll send you MarketBeat’s list of thirteen stocks that institutional investors are buying up as quickly as they can.
Source: marketbeat.com
