CVS Health (NYSE:CVS) Stock Price Expected to Rise, Piper Sandler Analyst Says

CVS Health (NYSE:CVS) had its price objective lifted by equities research analysts at Piper Sandler from $72.00 to $74.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the pharmacy operator’s stock. Piper Sandler’s price target suggests a potential upside of 10.09% from the company’s previous close.

CVS has been the topic of several other research reports. Barclays lifted their price target on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. TD Cowen raised their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised their price objective on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $70.39.

CVS Health Price Performance

CVS Health stock opened at $67.22 on Friday. The stock’s fifty day moving average price is $60.60 and its two-hundred day moving average price is $57.35. CVS Health has a one year low of $43.56 and a one year high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm has a market cap of $84.75 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, research analysts expect that CVS Health will post 5.89 EPS for the current fiscal year.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is owned by company insiders.

Institutional Trading of CVS Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 111 Capital bought a new stake in CVS Health during the 4th quarter worth approximately $790,000. Wealth Enhancement Advisory Services LLC increased its holdings in CVS Health by 67.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 286,990 shares of the pharmacy operator’s stock worth $12,883,000 after purchasing an additional 115,603 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new stake in CVS Health during the 4th quarter worth approximately $2,034,000. Wealthedge Investment Advisors LLC bought a new stake in CVS Health during the 4th quarter worth approximately $2,525,000. Finally, Siemens Fonds Invest GmbH increased its holdings in CVS Health by 2.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 65,188 shares of the pharmacy operator’s stock worth $2,864,000 after purchasing an additional 1,639 shares in the last quarter. 80.66% of the stock is owned by 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.