CVS Health (NYSE:CVS) Stock Price Expected to Rise, Evercore ISI Analyst Says

CVS Health (NYSE:CVS) had its target price increased by Evercore ISI from $60.00 to $65.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the pharmacy operator’s stock. Evercore ISI’s target price suggests a potential upside of 15.67% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. TD Cowen boosted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $66.00 in a report on Monday, November 18th. UBS Group lifted their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Piper Sandler dropped their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. One 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. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Price Performance

Shares of NYSE CVS traded up $1.64 during mid-day trading on Monday, reaching $56.19. The company had a trading volume of 2,436,604 shares, compared to its average volume of 13,152,122. CVS Health has a one year low of $43.56 and a one year high of $80.75. The business’s 50-day simple moving average is $51.24 and its 200 day simple moving average is $56.20. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a market cap of $70.71 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the company posted $2.21 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts predict that CVS Health will post 5.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVS Health

Several institutional investors have recently made changes to their positions in CVS. State Street Corp lifted its holdings in CVS Health by 3.6% during the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CVS Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after buying an additional 461,569 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of CVS Health by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after acquiring an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in CVS Health by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after acquiring an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the period. Hedge funds and other 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.