CVS Health (NYSE:CVS) Price Target Cut to $76.00

CVS Health (NYSE:CVS – Get Rating) had its price target lowered by stock analysts at Wells Fargo & Company from $95.00 to $76.00 in a note issued to investors on Monday, The Fly reports. Wells Fargo & Company‘s price objective points to a potential upside of 8.62% from the stock’s current price.

Several other equities analysts have also commented on CVS. Sanford C. Bernstein lowered their target price on CVS Health from $107.00 to $93.00 in a report on Tuesday, May 2nd. Truist Financial lowered their target price on CVS Health from $115.00 to $109.00 in a report on Thursday, May 4th. UBS Group lowered their target price on CVS Health from $102.00 to $94.00 in a report on Tuesday, May 2nd. Raymond James lowered their target price on CVS Health from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday, February 9th. Finally, TheStreet lowered CVS Health from a “b” rating to a “c” rating in a report on Wednesday, May 3rd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.00.

CVS Health Trading Up 0.4 %

Shares of NYSE CVS opened at $69.97 on Monday. The stock’s 50 day moving average price is $75.13 and its two-hundred day moving average price is $86.98. CVS Health has a 52-week low of $68.10 and a 52-week high of $107.26. The stock has a market capitalization of $89.70 billion, a P/E ratio of 23.09, a PEG ratio of 1.12 and a beta of 0.61. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 0.79.

CVS Health (NYSE:CVS – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The pharmacy operator reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.13. The firm had revenue of $85.28 billion for the quarter, compared to analysts’ expectations of $80.67 billion. CVS Health had a return on equity of 15.75% and a net margin of 1.20%. CVS Health’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.22 earnings per share. On average, analysts anticipate that CVS Health will post 8.61 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Karen S. Lynch acquired 14,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was bought at an average price of $69.75 per share, for a total transaction of $976,500.00. Following the transaction, the chief executive officer now owns 431,392 shares of the company’s stock, valued at $30,089,592. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Live Oak Investment Partners purchased a new stake in shares of CVS Health in the fourth quarter valued at $25,000. SRS Capital Advisors Inc. lifted its holdings in shares of CVS Health by 105.8% in the third quarter. SRS Capital Advisors Inc. now owns 284 shares of the pharmacy operator’s stock valued at $27,000 after purchasing an additional 146 shares in the last quarter. VitalStone Financial LLC purchased a new stake in shares of CVS Health in the fourth quarter valued at $28,000. Godsey & Gibb Inc. purchased a new stake in shares of CVS Health in the fourth quarter valued at $28,000. Finally, Castleview Partners LLC lifted its holdings in shares of CVS Health by 227.8% in the fourth quarter. Castleview Partners LLC now owns 318 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 221 shares in the last quarter. Institutional investors and hedge funds own 77.29% of the company’s stock.

About CVS Health

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CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.