CVS Health (NYSE:CVS) Given “Buy” Rating at Truist Financial

CVS Health (NYSE:CVS)‘s stock had its “buy” rating restated by Truist Financial in a research note issued on Wednesday,Benzinga reports. They currently have a $67.00 target price on the pharmacy operator’s stock, down from their previous target price of $76.00. Truist Financial’s target price suggests a potential upside of 17.41% from the stock’s current price.

Several other brokerages also recently weighed in on CVS. UBS Group upped their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $66.00 in a research note on Monday. Mizuho reduced their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Barclays dropped their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.28.

CVS Health Stock Up 0.4 %

Shares of NYSE CVS opened at $57.07 on Wednesday. The stock has a fifty day moving average price of $59.20 and a 200 day moving average price of $58.60. The company has a market cap of $71.81 billion, a P/E ratio of 14.48, a P/E/G ratio of 0.94 and a beta of 0.55. CVS Health has a 12-month low of $52.71 and a 12-month high of $83.25. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $2.21 EPS. Research analysts anticipate that CVS Health will post 5.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its holdings in shares of CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after acquiring an additional 36,132 shares during the period. Cullinan Associates Inc. increased its stake in shares of CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of CVS Health during the second quarter valued at approximately $57,584,000. Oppenheimer Asset Management Inc. boosted its position in shares of CVS Health by 5.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock worth $28,191,000 after buying an additional 24,285 shares during the period. Finally, CX Institutional increased its position in CVS Health by 698.0% in the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock valued at $4,691,000 after acquiring an additional 65,259 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Company Profile

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.