Truist Financial Lowers CVS Health (NYSE:CVS) Price Target to $60.00

CVS Health (NYSE:CVS) had its price target reduced by analysts at Truist Financial from $67.00 to $60.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the pharmacy operator’s stock. Truist Financial’s price target would indicate a potential upside of 31.09% from the company’s current price.

Other equities analysts have also issued reports about the company. Barclays decreased their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Piper Sandler cut their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Trading Up 3.5 %

Shares of CVS stock opened at $45.77 on Monday. The firm has a market capitalization of $57.60 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 0.85 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health has a 1 year low of $43.56 and a 1 year high of $83.25. The stock has a fifty day moving average of $52.84 and a two-hundred day moving average of $57.08.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $2.21 EPS. As a group, research analysts expect that CVS Health will post 5.32 EPS for the current year.

Hedge Funds Weigh In On CVS Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Savant Capital LLC lifted its holdings in shares of CVS Health by 20.2% during the 2nd quarter. Savant Capital LLC now owns 64,362 shares of the pharmacy operator’s stock valued at $3,801,000 after buying an additional 10,796 shares during the last quarter. Chris Bulman Inc bought a new stake in CVS Health in the second quarter worth approximately $46,000. Caprock Group LLC increased its stake in shares of CVS Health by 27.0% during the 2nd quarter. Caprock Group LLC now owns 37,822 shares of the pharmacy operator’s stock worth $2,234,000 after purchasing an additional 8,051 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of CVS Health by 51.6% during the 2nd quarter. Ballentine Partners LLC now owns 12,459 shares of the pharmacy operator’s stock valued at $736,000 after purchasing an additional 4,238 shares in the last quarter. Finally, Choreo LLC boosted its holdings in CVS Health by 294.6% in the second quarter. Choreo LLC now owns 63,830 shares of the pharmacy operator’s stock worth $3,714,000 after purchasing an additional 47,655 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

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.