CVS Health (NYSE:CVS) Upgraded to “Overweight” at Wells Fargo & Company

CVS Health (NYSE:CVS) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Marketbeat.com reports. The brokerage currently has a $66.00 price target on the pharmacy operator’s stock, up from their previous price target of $60.00. Wells Fargo & Company‘s target price indicates a potential upside of 18.25% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada lowered their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Truist Financial raised their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. UBS Group boosted their target price on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays decreased their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. One equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.78.

CVS Health Stock Down 0.4 %

CVS opened at $55.82 on Monday. CVS Health has a 12 month low of $52.71 and a 12 month high of $83.25. The stock has a market cap of $70.24 billion, a P/E ratio of 14.17, a P/E/G ratio of 0.92 and a beta of 0.55. The stock’s 50 day moving average price is $59.18 and its 200 day moving average price is $58.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the firm earned $2.21 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, research analysts predict that CVS Health will post 5.48 earnings per share for the current year.

Institutional Investors Weigh In On CVS Health

Several large investors have recently made changes to their positions in CVS. Pzena Investment Management LLC grew its stake in shares of CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after buying an additional 7,382,931 shares in the last quarter. Capital International Investors lifted its holdings in CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the last quarter. Capital World Investors lifted its holdings in CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings 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 buying an additional 3,071,613 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the last quarter. 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.