Morgan Stanley Lowers CVS Health (NYSE:CVS) Price Target to $100.00

CVS Health (NYSE:CVS) had its price objective cut by analysts at Morgan Stanley from $110.00 to $100.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the pharmacy operator’s stock. Morgan Stanley’s price objective would suggest a potential upside of 42.35% from the company’s current price.

A number of other equities analysts have also recently weighed in on CVS. Truist Financial reduced their price objective on shares of CVS Health from $103.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. TheStreet upgraded shares of CVS Health from a “c” rating to a “b-” rating in a research report on Wednesday. Mizuho reduced their price objective on shares of CVS Health from $120.00 to $88.00 in a research report on Tuesday, July 11th. Cantor Fitzgerald restated an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a research report on Thursday, September 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CVS Health from $114.00 to $106.00 in a report on Friday, July 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.59.

CVS Health Stock Performance

CVS opened at $70.25 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.86 and a quick ratio of 0.64. The firm has a fifty day moving average price of $69.28 and a 200 day moving average price of $70.39. CVS Health has a 1 year low of $64.41 and a 1 year high of $104.83. The stock has a market cap of $90.23 billion, a P/E ratio of 10.60, a P/E/G ratio of 1.78 and a beta of 0.58.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 1st. The pharmacy operator reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.08. CVS Health had a net margin of 2.47% and a return on equity of 15.36%. The firm had revenue of $89.76 billion during the quarter, compared to analysts’ expectations of $88.29 billion. During the same period in the previous year, the business posted $2.09 EPS. The business’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that CVS Health will post 8.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CVS. Live Oak Investment Partners acquired a new position in CVS Health in the fourth quarter valued at about $25,000. LifePro Asset Management acquired a new position in CVS Health in the second quarter valued at about $37,000. PCA Investment Advisory Services Inc. acquired a new position in CVS Health in the second quarter valued at about $37,000. 25 LLC acquired a new position in CVS Health in the first quarter valued at about $39,000. Finally, Northwest Capital Management Inc acquired a new position in CVS Health in the second quarter valued at about $44,000. Institutional investors and hedge funds own 75.99% of the company’s stock.

About CVS Health

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.