CVS Health (NYSE:CVS) Price Target Raised to $81.00

by · The Cerbat Gem

CVS Health (NYSE:CVS – Get Free Report) had its price objective increased by Royal Bank of Canada from $74.00 to $81.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the pharmacy operator’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 19.26% from the stock’s current price.

CVS has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Truist Financial increased their price objective on shares of CVS Health from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.13.

Read Our Latest Report on CVS Health

CVS Health Stock Performance

Shares of NYSE:CVS traded up $0.46 during midday trading on Monday, reaching $67.92. 2,990,385 shares of the company’s stock traded hands, compared to its average volume of 11,475,593. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health has a one year low of $43.56 and a one year high of $72.51. The company has a market cap of $85.63 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 0.98 and a beta of 0.57. The stock has a 50 day moving average of $66.72 and a 200 day moving average of $58.79.

CVS Health (NYSE:CVS – Get Free Report) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $1.31 earnings per share. As a group, equities research analysts anticipate that CVS Health will post 5.89 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.22% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Hedge funds have recently bought and sold shares of the business. Essex Financial Services Inc. raised its position in shares of CVS Health by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock valued at $1,403,000 after buying an additional 166 shares in the last quarter. McIlrath & Eck LLC raised its position in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Sumitomo Life Insurance Co. lifted its stake in shares of CVS Health by 1.0% in the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock valued at $1,159,000 after purchasing an additional 174 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of CVS Health by 3.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator’s stock worth $334,000 after purchasing an additional 178 shares during the period. Finally, Horizon Bancorp Inc. IN increased its position in shares of CVS Health by 7.4% during the 1st quarter. Horizon Bancorp Inc. IN now owns 2,610 shares of the pharmacy operator’s stock valued at $177,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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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