Jefferies Financial Group Issues Positive Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its target price boosted by Jefferies Financial Group from $74.00 to $80.00 in a research report report published on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the pharmacy operator’s stock.

Several other research analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Truist Financial boosted their price objective on CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Mizuho raised their target price on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Wells Fargo & Company reiterated an “overweight” rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Finally, Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.06.

CVS Health Stock Performance

Shares of CVS stock opened at $68.91 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health has a 12-month low of $43.56 and a 12-month high of $72.51. The business’s 50 day moving average is $64.93 and its two-hundred day moving average is $61.07. The company has a market capitalization of $87.17 billion, a P/E ratio of 16.45, a P/E/G ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The business had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same period in the prior year, the company posted $1.31 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that CVS Health will post 5.89 EPS for the current fiscal year.

Insider Buying and Selling

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director directly owned 12,007 shares of the company’s stock, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bell Investment Advisors Inc increased its stake in CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 248 shares during the last quarter. Saudi Central Bank acquired a new position in shares of CVS Health in the 1st quarter valued at $34,000. Costello Asset Management INC grew its position in shares of CVS Health by 281.3% in the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 422 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in CVS Health during the 1st quarter worth $39,000. Finally, GW&K Investment Management LLC lifted its position in CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock valued at $43,000 after acquiring an additional 180 shares during the last quarter. 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.