Argus Issues Pessimistic Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its price target lowered by analysts at Argus from $91.00 to $90.00 in a report released on Wednesday, MarketBeat reports. The firm currently has a “buy” rating on the pharmacy operator’s stock. Argus’ price objective would suggest a potential upside of 22.18% from the stock’s current price.

CVS has been the subject of a number of other research reports. Raymond James Financial upped their price objective on CVS Health from $75.00 to $90.00 in a research note on Friday, October 31st. UBS Group restated an “outperform” rating on shares of CVS Health in a research note on Wednesday, December 10th. Wall Street Zen cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. The Goldman Sachs Group upped their target price on shares of CVS Health from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of CVS Health in a report on Thursday, December 4th. Twenty equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.82.

CVS Health Price Performance

Shares of CVS traded up $1.66 during mid-day trading on Wednesday, reaching $73.66. The stock had a trading volume of 3,354,174 shares, compared to its average volume of 9,721,205. The business has a fifty day moving average of $79.05 and a 200 day moving average of $75.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.63 and a current ratio of 0.83. The firm has a market cap of $93.51 billion, a price-to-earnings ratio of 194.26, a PEG ratio of 0.77 and a beta of 0.48. CVS Health has a 12 month low of $53.36 and a 12 month high of $85.15.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The company had revenue of $102.87 billion for the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter in the previous year, the company earned $1.09 EPS. CVS Health’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts predict that CVS Health will post 5.89 EPS for the current year.

Hedge Funds Weigh In On CVS Health

Several hedge funds have recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisors L.P. increased its holdings 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 worth $28,264,000 after acquiring an additional 6,615 shares in the last quarter. Alpha Omega Wealth Management LLC raised its position in shares of CVS Health by 12.3% in the third quarter. Alpha Omega Wealth Management LLC now owns 149,902 shares of the pharmacy operator’s stock valued at $11,301,000 after buying an additional 16,418 shares during the last quarter. Aaron Wealth Advisors LLC boosted its position in CVS Health by 177.4% during the third quarter. Aaron Wealth Advisors LLC now owns 34,259 shares of the pharmacy operator’s stock worth $2,583,000 after acquiring an additional 21,911 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in CVS Health by 186.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 396,368 shares of the pharmacy operator’s stock worth $30,568,000 after purchasing an additional 258,050 shares in the last quarter. Finally, Red Mountain Financial LLC purchased a new position in CVS Health during the second quarter worth approximately $293,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Company Profile

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over?the?counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in?store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk?in medical clinics and HealthHUB locations that offer expanded clinical services.