CVS Health (NYSE:CVS) Stock Rating Reaffirmed by Cantor Fitzgerald

CVS Health (NYSE:CVS)‘s stock had its “neutral” rating reiterated by stock analysts at Cantor Fitzgerald in a research note issued on Tuesday, Benzinga reports. They presently have a $62.00 price objective on the pharmacy operator’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 1.13% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Evercore ISI cut their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company upped their target price on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Barclays decreased their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Stock Down 2.5 %

NYSE CVS traded down $1.57 during midday trading on Tuesday, hitting $61.31. 2,999,154 shares of the company traded hands, compared to its average volume of 10,879,581. CVS Health has a 52 week low of $52.77 and a 52 week high of $83.25. The company’s 50-day simple moving average is $58.29 and its 200-day simple moving average is $61.77. The company has a market cap of $76.97 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 0.81 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 earnings per share. As a group, equities research analysts forecast that CVS Health will post 6.51 earnings per share for the current year.

Institutional Trading of CVS Health

A number of institutional investors and hedge funds have recently made changes to their positions in CVS. Deerfield Management Company L.P. Series C purchased a new stake in CVS Health in the 2nd quarter worth $57,584,000. Susquehanna Fundamental Investments LLC raised its position in shares of CVS Health by 27.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after purchasing an additional 145,158 shares during the last quarter. Steph & Co. lifted its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares in the last quarter. Douglas Lane & Associates LLC boosted its holdings in CVS Health by 1.6% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after buying an additional 16,840 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new stake in CVS Health during the 4th quarter worth approximately $151,000. 80.66% of the stock is currently owned by hedge funds and other 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.