CVS Health (NYSE:CVS) Price Target Raised to $73.00

CVS Health (NYSE:CVS) had its price target raised by analysts at Barclays from $71.00 to $73.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the pharmacy operator’s stock. Barclays‘s price target points to a potential upside of 11.10% from the company’s previous close.

A number of other analysts have also recently weighed in on CVS. TD Cowen upped their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Evercore ISI upped their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Truist Financial decreased their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Mizuho decreased their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.28.

CVS Health Stock Performance

NYSE CVS opened at $65.71 on Thursday. The stock has a market cap of $82.68 billion, a P/E ratio of 16.68, a PEG ratio of 0.60 and a beta of 0.61. The company’s 50-day simple moving average is $50.90 and its 200 day simple moving average is $56.01. CVS Health has a twelve month low of $43.56 and a twelve month high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, research analysts forecast that CVS Health will post 5.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CVS Health

Several large investors have recently bought and sold shares of the business. Dodge & Cox lifted its holdings in CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after buying an additional 7,075,209 shares during the period. Capital World Investors raised its holdings in CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after purchasing an additional 12,819,148 shares during the period. State Street Corp raised its holdings in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after purchasing an additional 1,989,066 shares during the period. Geode Capital Management LLC raised its holdings in CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock worth $1,211,582,000 after purchasing an additional 689,867 shares during the period. Finally, Capital International Investors raised its holdings in CVS Health by 4.8% in the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock worth $1,196,989,000 after purchasing an additional 1,212,126 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.