CVS Health (NYSE:CVS) Given New $64.00 Price Target at Piper Sandler

CVS Health (NYSE:CVS) had its target price lowered by Piper Sandler from $72.00 to $64.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the pharmacy operator’s stock. Piper Sandler’s price objective suggests a potential upside of 8.44% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Royal Bank of Canada lowered their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Finally, Evercore ISI raised their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.33.

CVS Health Stock Performance

Shares of CVS stock opened at $59.02 on Monday. The stock has a market cap of $74.27 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.98 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company has a fifty day moving average price of $59.26 and a two-hundred day moving average price of $58.69. CVS Health has a one year low of $52.71 and a one year high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 earnings per share. As a group, equities analysts predict that CVS Health will post 5.43 EPS for the current year.

Institutional Investors Weigh In On CVS Health

Hedge funds have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory bought a new position in CVS Health during the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in CVS Health during the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC bought a new position in CVS Health during the 3rd quarter worth approximately $32,000. Finally, First Community Trust NA raised its holdings in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.