Cantor Fitzgerald Reiterates Neutral Rating for CVS Health (NYSE:CVS)

CVS Health (NYSE:CVS)‘s stock had its “neutral” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports. They currently have a $62.00 price objective on the pharmacy operator’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 10.50% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Baird R W upgraded shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Evercore ISI decreased their target price on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company lifted their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $72.48.

CVS Health Stock Performance

Shares of CVS Health stock opened at $56.11 on Tuesday. The company has a 50 day moving average of $58.24 and a 200-day moving average of $63.34. The company has a market cap of $70.44 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. CVS Health has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 EPS. As a group, equities research analysts forecast that CVS Health will post 6.51 earnings per share for the current fiscal year.

Institutional Trading of CVS Health

A number of institutional investors have recently made changes to their positions in the stock. Steph & Co. lifted its stake in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the period. Douglas Lane & Associates LLC lifted its stake in shares of CVS Health by 1.6% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after purchasing an additional 16,840 shares during the period. OLD Point Trust & Financial Services N A bought a new position in shares of CVS Health in the 4th quarter worth approximately $151,000. State of Tennessee Treasury Department boosted its position in shares of CVS Health by 10.4% in the fourth quarter. State of Tennessee Treasury Department now owns 624,817 shares of the pharmacy operator’s stock worth $49,336,000 after purchasing an additional 58,836 shares during the period. Finally, BOCHK Asset Management Ltd purchased a new stake in shares of CVS Health in the fourth quarter worth $2,116,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

About CVS Health

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.