Argus Issues Pessimistic Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its price target lowered by research analysts at Argus from $91.00 to $90.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the pharmacy operator’s stock. Argus’ target price points to a potential upside of 21.08% from the company’s current price.

CVS has been the topic of a number of other reports. Truist Financial set a $100.00 price target on CVS Health in a research note on Wednesday, December 10th. Barclays upped their price target on shares of CVS Health from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Robert W. Baird raised their price target on shares of CVS Health from $82.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Wolfe Research upped their price objective on shares of CVS Health from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, December 8th. Finally, Evercore ISI raised their target price on CVS Health from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Nineteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $94.82.

CVS Health Price Performance

Shares of CVS Health stock opened at $74.33 on Wednesday. The stock has a market capitalization of $94.35 billion, a price-to-earnings ratio of 195.61, a price-to-earnings-growth ratio of 0.68 and a beta of 0.48. The company has a fifty day moving average of $78.97 and a 200-day moving average of $75.01. CVS Health has a 52-week low of $53.36 and a 52-week high of $85.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.63 and a current ratio of 0.83.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.24. The business had revenue of $102.87 billion during the quarter, compared to analyst estimates of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. Equities research analysts expect that CVS Health will post 5.89 EPS for the current year.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVS. SOA Wealth Advisors LLC. boosted its position in CVS Health by 36.9% during the third quarter. SOA Wealth Advisors LLC. now owns 486 shares of the pharmacy operator’s stock worth $37,000 after acquiring an additional 131 shares during the last quarter. Alteri Wealth LLC lifted its stake in CVS Health by 3.2% in the 3rd quarter. Alteri Wealth LLC now owns 4,195 shares of the pharmacy operator’s stock worth $316,000 after purchasing an additional 131 shares in the last quarter. TOWER TRUST & INVESTMENT Co boosted its holdings in shares of CVS Health by 0.8% during the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 15,708 shares of the pharmacy operator’s stock worth $1,247,000 after purchasing an additional 132 shares during the last quarter. Holistic Financial Partners grew its position in shares of CVS Health by 4.1% in the third quarter. Holistic Financial Partners now owns 3,397 shares of the pharmacy operator’s stock valued at $256,000 after purchasing an additional 133 shares in the last quarter. Finally, CYBER HORNET ETFs LLC increased its holdings in shares of CVS Health by 4.1% in the third quarter. CYBER HORNET ETFs LLC now owns 3,442 shares of the pharmacy operator’s stock valued at $259,000 after purchasing an additional 134 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

About CVS Health

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.