Weiss Ratings Reaffirms “Hold (C)” Rating for CVS Health (NYSE:CVS)

by · The Cerbat Gem

CVS Health (NYSE:CVS – Get Free Report)‘s stock had its “hold (c)” rating reaffirmed by investment analysts at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

CVS has been the topic of several other reports. The Goldman Sachs Group initiated coverage on shares of CVS Health in a research report on Tuesday. They issued a “buy” rating and a $91.00 price target on the stock. Robert W. Baird raised shares of CVS Health from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $71.00 to $82.00 in a research note on Thursday, August 14th. Sanford C. Bernstein upped their price objective on shares of CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, September 5th. Barclays upped their price objective on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Finally, Morgan Stanley upped their price objective on shares of CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $81.05.

Check Out Our Latest Analysis on CVS Health

CVS Health Stock Up 1.4%

CVS stock opened at $80.75 on Tuesday. The company’s 50 day simple moving average is $73.30 and its 200-day simple moving average is $67.92. The firm has a market capitalization of $102.42 billion, a PE ratio of 22.56, a P/E/G ratio of 0.88 and a beta of 0.60. CVS Health has a 12 month low of $43.56 and a 12 month high of $81.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62.

CVS Health (NYSE:CVS – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts expect that CVS Health will post 5.89 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director owned 22,156 shares of the company’s stock, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CVS. Jennison Associates LLC lifted its position in CVS Health by 503.8% in the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock valued at $128,477,000 after purchasing an additional 1,582,257 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its position in CVS Health by 1.6% in the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock valued at $28,264,000 after purchasing an additional 6,615 shares during the last quarter. Cerity Partners LLC lifted its position in CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after purchasing an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp lifted its position in CVS Health by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock valued at $608,481,000 after purchasing an additional 183,813 shares during the last quarter. Finally, Brandywine Global Investment Management LLC lifted its position in CVS Health by 20.1% in the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock valued at $231,808,000 after purchasing an additional 572,533 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Company Profile

(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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