CVS Health (NYSE:CVS) Stock Rating Upgraded by StockNews.com

CVS Health (NYSE:CVS) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other analysts have also recently commented on the company. Truist Financial upped their price target on CVS Health from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Piper Sandler increased their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. JPMorgan Chase & Co. boosted their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Wolfe Research raised their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Mizuho boosted their target price on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $74.81.

CVS Health Price Performance

CVS Health stock opened at $66.98 on Friday. The stock has a market cap of $84.73 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 0.98 and a beta of 0.60. CVS Health has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The business’s 50-day simple moving average is $66.96 and its 200 day simple moving average is $59.04.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter in the previous year, the company earned $1.31 EPS. CVS Health’s revenue was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that CVS Health will post 5.89 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 1.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Essex Financial Services Inc. raised its stake in CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock valued at $1,403,000 after buying an additional 166 shares during the period. Hemington Wealth Management raised its stake in CVS Health by 33.7% in the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock valued at $46,000 after acquiring an additional 172 shares during the period. McIlrath & Eck LLC lifted its holdings in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Sumitomo Life Insurance Co. boosted its position in CVS Health by 1.0% during the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock worth $1,159,000 after purchasing an additional 174 shares during the period. Finally, Koshinski Asset Management Inc. increased its holdings in shares of CVS Health by 3.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator’s stock valued at $334,000 after purchasing an additional 178 shares during the last quarter. 80.66% of the stock is currently 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.