Brokerages Set CVS Health Co. (NYSE:CVS) Price Target at $69.12

CVS Health Co. (NYSE:CVS) has been given an average rating of “Moderate Buy” by the nineteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $69.12.

CVS has been the subject of a number of recent analyst reports. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Evercore ISI lifted their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Truist Financial reissued a “buy” rating and set a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. Barclays dropped their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th.

Hedge Funds Weigh In On CVS Health

Large investors have recently bought and sold shares of the company. Banco Santander S.A. increased its position in shares of CVS Health by 5.1% during the 2nd quarter. Banco Santander S.A. now owns 88,638 shares of the pharmacy operator’s stock worth $5,235,000 after purchasing an additional 4,331 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in CVS Health by 7.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 251,776 shares of the pharmacy operator’s stock worth $14,870,000 after acquiring an additional 16,677 shares in the last quarter. F M Investments LLC bought a new position in shares of CVS Health in the 2nd quarter valued at about $1,662,000. Crewe Advisors LLC increased its stake in shares of CVS Health by 104.6% during the 2nd quarter. Crewe Advisors LLC now owns 1,019 shares of the pharmacy operator’s stock worth $60,000 after purchasing an additional 521 shares during the last quarter. Finally, Smith Salley Wealth Management bought a new stake in shares of CVS Health in the 2nd quarter valued at about $1,190,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $44.49 on Wednesday. CVS Health has a 52-week low of $43.56 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a fifty day moving average price of $54.13 and a two-hundred day moving average price of $57.67. The firm has a market capitalization of $55.99 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.85 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced 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. The firm had revenue of $95.43 billion during 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 firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $2.21 EPS. As a group, analysts anticipate that CVS Health will post 5.32 EPS for the current fiscal year.

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.