Leerink Partners Boosts CVS Health (NYSE:CVS) Price Target to $55.00

CVS Health (NYSE:CVS) had its price target boosted by Leerink Partners from $51.00 to $55.00 in a report released on Tuesday. The firm presently has a “market perform” rating on the pharmacy operator’s stock. Leerink Partners’ price objective would indicate a potential downside of 13.02% from the company’s previous close.

A number of other equities analysts have also weighed in on CVS. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI upped their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Barclays decreased 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 report on Thursday, November 7th. UBS Group dropped their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Truist Financial decreased their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $67.78.

CVS Health Stock Up 15.0 %

CVS Health stock opened at $63.23 on Tuesday. The company has a market capitalization of $79.57 billion, a PE ratio of 16.05, a PEG ratio of 0.60 and a beta of 0.61. CVS Health has a 12-month low of $43.56 and a 12-month high of $80.75. The firm’s fifty day moving average is $50.61 and its 200 day moving average is $55.92. 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) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, sell-side analysts predict that CVS Health will post 5.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CVS. State Street Corp lifted its stake in 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 purchasing an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CVS Health by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock valued at $1,211,582,000 after buying an additional 689,867 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after acquiring an additional 6,475,271 shares during the period. Norges Bank purchased a new stake in CVS Health in the 4th quarter worth about $839,574,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in CVS Health by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator’s stock valued at $579,932,000 after purchasing an additional 710,281 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

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.