CVS Health (NYSE:CVS - Get Free Report)'s stock had its "neutral" rating reiterated by investment analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $62.00 price objective on the pharmacy operator's stock. Cantor Fitzgerald's price objective points to a potential upside of 5.42% from the stock's current price.
A number of other research analysts have also weighed in on the company. The Goldman Sachs Group cut their price objective on CVS Health from $85.00 to $74.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. Mizuho decreased their target price on CVS Health from $86.00 to $72.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. Robert W. Baird initiated coverage on CVS Health in a research note on Thursday, May 30th. They issued a "neutral" rating and a $61.00 price objective for the company. Truist Financial reaffirmed a "buy" rating and set a $66.00 price target (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Finally, TD Cowen downgraded CVS Health from a "buy" rating to a "hold" rating and decreased their price target for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and a consensus price target of $73.24.
Check Out Our Latest Report on CVS Health
CVS Health Trading Up 0.8 %
CVS traded up $0.46 during trading hours on Monday, reaching $58.81. 7,468,462 shares of the company's stock traded hands, compared to its average volume of 11,401,509. The firm has a 50-day moving average price of $59.01 and a 200 day moving average price of $65.44. CVS Health has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $73.83 billion, a PE ratio of 10.34, a PEG ratio of 0.57 and a beta of 0.52.
CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts' expectations of $91.41 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 EPS. As a group, sell-side analysts predict that CVS Health will post 7 EPS for the current fiscal year.
Hedge Funds Weigh In On CVS Health
Several institutional investors and hedge funds have recently modified their holdings of CVS. Riverpoint Wealth Management Holdings LLC acquired a new position in CVS Health during the 4th quarter worth $218,000. Canoe Financial LP raised its position in shares of CVS Health by 95.1% during the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator's stock valued at $139,177,000 after buying an additional 859,134 shares during the last quarter. Meritage Portfolio Management raised its position in shares of CVS Health by 30.6% during the fourth quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator's stock valued at $5,237,000 after buying an additional 15,548 shares during the last quarter. Steph & Co. raised its position in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator's stock valued at $35,000 after buying an additional 288 shares during the last quarter. Finally, Forum Financial Management LP raised its position in shares of CVS Health by 19.4% during the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator's stock valued at $1,410,000 after buying an additional 2,901 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.
About CVS Health
(Get Free Report)
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.
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