CVS Health (NYSE:CVS) Price Target Raised to $65.00

CVS Health (NYSE:CVS) had its price objective upped by analysts at Evercore ISI from $60.00 to $65.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the pharmacy operator’s stock. Evercore ISI’s target price suggests a potential upside of 13.15% from the stock’s previous close.

CVS has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Royal Bank of Canada cut their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Price Performance

NYSE CVS opened at $57.45 on Monday. The firm has a market capitalization of $72.29 billion, a PE ratio of 14.58, a P/E/G ratio of 0.80 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health has a 12 month low of $43.56 and a 12 month high of $80.75. The company’s 50 day simple moving average is $51.24 and its 200 day simple moving average is $56.19.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the previous year, the business earned $2.21 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that CVS Health will post 5.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ascent Group LLC increased its stake in shares of CVS Health by 14.6% in the second quarter. Ascent Group LLC now owns 20,188 shares of the pharmacy operator’s stock worth $1,192,000 after purchasing an additional 2,578 shares during the period. Magnolia Capital Advisors LLC acquired a new stake in CVS Health in the 2nd quarter valued at approximately $795,000. William B. Walkup & Associates Inc. bought a new position in CVS Health in the 2nd quarter worth approximately $1,269,000. Wallace Advisory Group LLC bought a new stake in shares of CVS Health in the second quarter valued at approximately $457,000. Finally, Regal Investment Advisors LLC grew its stake in shares of CVS Health by 16.4% in the second quarter. Regal Investment Advisors LLC now owns 82,350 shares of the pharmacy operator’s stock worth $4,864,000 after acquiring an additional 11,617 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.