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

CVS Health (NYSE:CVSGet Free Report) 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.

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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:CVSGet Free Report) 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

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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.

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Analyst Recommendations for CVS Health (NYSE:CVS)

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