CVS Health (NYSE:CVS) Stock Price Expected to Rise, Evercore ISI Analyst Says

CVS Health (NYSE:CVS) had its price target boosted by equities researchers at Evercore ISI from $60.00 to $65.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the pharmacy operator’s stock. Evercore ISI’s price objective suggests a potential upside of 13.15% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Royal Bank of Canada decreased their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.12.

CVS Health Stock Up 2.2 %

Shares of CVS Health stock opened at $57.45 on Monday. The company has a fifty day moving average price of $51.24 and a 200 day moving average price of $56.19. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health has a twelve month low of $43.56 and a twelve month high of $80.75. The stock has a market cap of $72.29 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 earnings per share. Equities research analysts forecast that CVS Health will post 5.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVS. Ascent Group LLC grew its position in shares of CVS Health by 14.6% during the second quarter. Ascent Group LLC now owns 20,188 shares of the pharmacy operator’s stock worth $1,192,000 after acquiring an additional 2,578 shares during the last quarter. Magnolia Capital Advisors LLC bought a new stake in shares of CVS Health during the second quarter valued at approximately $795,000. William B. Walkup & Associates Inc. acquired a new position in shares of CVS Health during the second quarter worth approximately $1,269,000. Wallace Advisory Group LLC bought a new position in CVS Health in the 2nd quarter worth approximately $457,000. Finally, Regal Investment Advisors LLC increased its position in CVS Health by 16.4% in the 2nd quarter. Regal Investment Advisors LLC now owns 82,350 shares of the pharmacy operator’s stock valued at $4,864,000 after acquiring an additional 11,617 shares during the period. 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.