CVS Health (NYSE:CVS) Price Target Cut to $63.00

CVS Health (NYSE:CVS) had its price target cut by Deutsche Bank Aktiengesellschaft from $64.00 to $63.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the pharmacy operator’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 10.24% from the stock’s current price.

CVS has been the subject of several other research reports. Baird R W raised shares of CVS Health to a “hold” rating in a research report on Thursday, May 30th. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and reduced their target price for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. JPMorgan Chase & Co. reduced their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Robert W. Baird assumed coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Finally, Argus reduced their target price on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $73.19.

CVS Health Stock Performance

Shares of NYSE CVS traded down $0.70 during midday trading on Friday, hitting $57.15. 3,104,965 shares of the company’s stock traded hands, compared to its average volume of 11,512,653. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The stock has a market capitalization of $71.74 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The firm has a fifty day moving average of $59.50 and a 200 day moving average of $66.37.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.74 by $0.09. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts forecast that CVS Health will post 7 earnings per share for the current year.

Institutional Trading of CVS Health

Institutional investors have recently bought and sold shares of the stock. Riverpoint Wealth Management Holdings LLC bought a new stake in CVS Health in the fourth quarter worth $218,000. Canoe Financial LP lifted its position in CVS Health by 95.1% in the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock worth $139,177,000 after buying an additional 859,134 shares during the last quarter. Meritage Portfolio Management increased its stake in CVS Health by 30.6% in the fourth quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock worth $5,237,000 after purchasing an additional 15,548 shares during the period. Steph & Co. increased its stake in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the period. Finally, Forum Financial Management LP increased its stake in CVS Health by 19.4% in the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock worth $1,410,000 after purchasing an additional 2,901 shares during the period. 80.66% of the stock is currently owned by institutional investors.

About CVS Health

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.