CVS Health (NYSE:CVS) PT Lowered to $60.00

CVS Health (NYSE:CVS) had its price objective decreased by investment analysts at Wells Fargo & Company from $76.00 to $60.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the pharmacy operator’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 9.23% from the company’s current price.

CVS has been the subject of a number of other research reports. Truist Financial reaffirmed a “buy” rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Barclays decreased their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $99.00 to $59.00 in a research report on Tuesday. The Goldman Sachs Group dropped their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Piper Sandler raised their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $76.75.

CVS Health Price Performance

Shares of NYSE CVS opened at $54.93 on Tuesday. The company has a market cap of $68.96 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The business’s 50 day moving average price is $71.95 and its two-hundred day moving average price is $73.09. CVS Health has a twelve month low of $53.70 and a twelve month high of $83.25. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts predict that CVS Health will post 7.03 EPS for the current year.

Insider Transactions at CVS Health

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVS. TD Asset Management Inc increased its holdings in CVS Health by 8.7% in the first quarter. TD Asset Management Inc now owns 1,219,927 shares of the pharmacy operator’s stock valued at $97,301,000 after buying an additional 97,738 shares in the last quarter. Dearborn Partners LLC lifted its position in CVS Health by 10.1% in the first quarter. Dearborn Partners LLC now owns 17,409 shares of the pharmacy operator’s stock valued at $1,389,000 after buying an additional 1,597 shares during the last quarter. Pettyjohn Wood & White Inc. boosted its stake in CVS Health by 0.4% during the first quarter. Pettyjohn Wood & White Inc. now owns 102,402 shares of the pharmacy operator’s stock worth $8,168,000 after buying an additional 431 shares during the period. J.P. Marvel Investment Advisors LLC increased its position in shares of CVS Health by 4.0% during the first quarter. J.P. Marvel Investment Advisors LLC now owns 70,692 shares of the pharmacy operator’s stock valued at $5,638,000 after acquiring an additional 2,728 shares during the last quarter. Finally, Motley Fool Asset Management LLC raised its stake in shares of CVS Health by 319.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 148,724 shares of the pharmacy operator’s stock valued at $11,862,000 after acquiring an additional 113,288 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

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.