CVS Health (NYSE:CVS) Given New $74.00 Price Target at Piper Sandler

CVS Health (NYSE:CVS) had its price target increased by Piper Sandler from $72.00 to $74.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the pharmacy operator’s stock. Piper Sandler’s price target indicates a potential upside of 7.70% from the company’s previous close.

A number of other equities research analysts have also recently commented on CVS. Argus set a $77.00 price target on CVS Health in a report on Tuesday, February 18th. Wells Fargo & Company raised their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Finally, Wolfe Research lifted their target price on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $70.39.

CVS Health Price Performance

Shares of CVS Health stock opened at $68.71 on Friday. CVS Health has a one year low of $43.56 and a one year high of $80.75. The stock’s fifty day moving average is $60.22 and its 200 day moving average is $57.28. The stock has a market cap of $86.63 billion, a P/E ratio of 18.77, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Sell-side analysts anticipate that CVS Health will post 5.89 earnings per share for the current year.

Insider Buying and Selling at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

Several institutional investors and hedge funds have recently modified their holdings of CVS. Ridgewood Investments LLC raised its stake in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health in the fourth quarter worth approximately $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health in the fourth quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new position in CVS Health in the third quarter worth approximately $31,000. Finally, McIlrath & Eck LLC raised its stake in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 174 shares in the last quarter. Institutional investors 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.