CVS Health (NYSE:CVS) Price Target Cut to $80.00

CVS Health (NYSE:CVS) had its target price decreased by equities research analysts at Argus from $100.00 to $80.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the pharmacy operator’s stock. Argus’ target price points to a potential upside of 43.70% from the stock’s current price.

A number of other research analysts have also recently issued reports on CVS. Royal Bank of Canada reduced their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $99.00 to $59.00 in a report on Tuesday. Mizuho cut their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Bank of America decreased their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $76.75.

CVS Health Stock Up 1.4 %

Shares of NYSE CVS opened at $55.67 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The company has a market cap of $69.89 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.88 and a beta of 0.56. CVS Health has a 52 week low of $53.70 and a 52 week high of $83.25. The business has a 50-day simple moving average of $71.54 and a two-hundred day simple moving average of $72.96.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 earnings per share. Research analysts anticipate that CVS Health will post 7.03 earnings per share for the current fiscal year.

Insider Buying and Selling at CVS Health

In related news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC raised its stake in shares of CVS Health by 1.5% in the third quarter. Chicago Partners Investment Group LLC now owns 13,455 shares of the pharmacy operator’s stock worth $928,000 after purchasing an additional 201 shares during the last quarter. Park Avenue Securities LLC lifted its stake in CVS Health by 6.9% during the 3rd quarter. Park Avenue Securities LLC now owns 27,311 shares of the pharmacy operator’s stock valued at $1,907,000 after acquiring an additional 1,753 shares during the period. Gratus Capital LLC purchased a new stake in shares of CVS Health in the 3rd quarter valued at $305,000. Whittier Trust Co. increased its stake in shares of CVS Health by 0.5% in the third quarter. Whittier Trust Co. now owns 153,936 shares of the pharmacy operator’s stock worth $10,746,000 after acquiring an additional 718 shares during the period. Finally, TIAA Trust National Association purchased a new position in shares of CVS Health during the third quarter worth $3,252,000. 80.66% of the stock is owned by institutional investors and hedge funds.

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.