CVS Health (NYSE:CVS) PT Lowered to $72.00 at Mizuho

CVS Health (NYSE:CVS) had its target price lowered by investment analysts at Mizuho from $86.00 to $72.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the pharmacy operator’s stock. Mizuho’s price target would indicate a potential upside of 27.84% from the company’s current price.

Several other equities analysts have also recently commented on CVS. UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and lowered their target price for the company from $85.00 to $60.00 in a research note on Thursday. Royal Bank of Canada dropped their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Cantor Fitzgerald lowered CVS Health from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $87.00 to $58.00 in a research note on Wednesday. Wells Fargo & Company dropped their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Finally, Piper Sandler raised their target price on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $83.50.

CVS Health Trading Down 16.8 %

Shares of CVS stock opened at $56.32 on Thursday. CVS Health has a fifty-two week low of $54.00 and a fifty-two week high of $83.25. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The stock has a market cap of $70.99 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 0.90 and a beta of 0.56. The firm’s 50 day moving average price is $73.63 and its two-hundred day moving average price is $73.50.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. During the same period last year, the firm earned $1.99 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, analysts anticipate that CVS Health will post 8.31 EPS for the current year.

Insider Buying and Selling at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

A number of hedge funds have recently made changes to their positions in CVS. Family Firm Inc. acquired a new position in shares of CVS Health in the first quarter worth $202,000. Palisade Asset Management LLC increased its position in CVS Health by 7.0% in the 1st quarter. Palisade Asset Management LLC now owns 7,618 shares of the pharmacy operator’s stock worth $608,000 after purchasing an additional 500 shares during the last quarter. PDS Planning Inc raised its stake in shares of CVS Health by 12.4% during the 1st quarter. PDS Planning Inc now owns 3,984 shares of the pharmacy operator’s stock worth $318,000 after purchasing an additional 441 shares in the last quarter. Fortem Financial Group LLC lifted its holdings in shares of CVS Health by 9.8% during the 1st quarter. Fortem Financial Group LLC now owns 11,797 shares of the pharmacy operator’s stock valued at $941,000 after buying an additional 1,049 shares during the last quarter. Finally, StoneX Group Inc. increased its holdings in CVS Health by 19.9% in the first quarter. StoneX Group Inc. now owns 32,867 shares of the pharmacy operator’s stock worth $2,621,000 after buying an additional 5,446 shares during the last quarter. 80.66% of the stock is 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.