CVS Health (NYSE:CVS) Receives Buy Rating from Truist Financial

CVS Health (NYSE:CVS)‘s stock had its “buy” rating restated by analysts at Truist Financial in a research report issued on Thursday, Benzinga reports. They presently have a $66.00 price objective on the pharmacy operator’s stock, down from their prior price objective of $90.00. Truist Financial’s target price points to a potential upside of 21.37% from the company’s current price.

CVS has been the subject of a number of other reports. Cantor Fitzgerald lowered CVS Health from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $87.00 to $58.00 in a research report on Wednesday. SVB Leerink reissued a “market perform” rating and issued a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a report on Wednesday. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Mizuho lowered their price objective on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday. Finally, UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $60.00 in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.72.

CVS Health Price Performance

Shares of NYSE:CVS traded down $1.93 during midday trading on Thursday, reaching $54.38. 7,174,144 shares of the company’s stock traded hands, compared to its average volume of 11,232,479. The company has a fifty day simple moving average of $73.63 and a two-hundred day simple moving average of $73.50. CVS Health has a 1 year low of $54.00 and a 1 year high of $83.25. The company has a market cap of $68.54 billion, a P/E ratio of 8.42, a PEG ratio of 0.90 and a beta of 0.56. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter in the prior year, the firm earned $1.99 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Equities analysts predict that CVS Health will post 8.31 EPS for the current fiscal year.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. Atticus Wealth Management LLC grew its stake in shares of CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares during the last quarter. USA Financial Formulas boosted its stake in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the period. Cornerstone Planning Group LLC raised its stake in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CVS Health in the fourth quarter valued at $32,000. Finally, Creekmur Asset Management LLC bought a new position in CVS Health in the 4th quarter valued at about $34,000. 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.