Royal Bank of Canada Reiterates “Outperform” Rating for CVS Health (NYSE:CVS)

CVS Health (NYSE:CVSGet Free Report)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $68.00 target price on the pharmacy operator’s stock. Royal Bank of Canada’s price target indicates a potential upside of 15.94% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Baird R W upgraded shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Evercore ISI cut their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective 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 research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price on the stock. Finally, Argus lowered their target price on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.48.

View Our Latest Stock Analysis on CVS Health

CVS Health Trading Up 2.2 %

Shares of NYSE:CVS traded up $1.27 during mid-day trading on Wednesday, reaching $58.65. 880,172 shares of the company’s stock were exchanged, compared to its average volume of 11,123,678. The firm has a market capitalization of $73.63 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.80 and a beta of 0.52. The business’s fifty day moving average price is $58.35 and its 200-day moving average price is $64.07. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health has a twelve month low of $52.77 and a twelve month high of $83.25.

CVS Health (NYSE:CVSGet Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. CVS Health’s revenue was up 2.6% compared to the same quarter last year. On average, research analysts predict that CVS Health will post 6.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in CVS Health by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after buying an additional 533,659 shares during the last quarter. Capital World Investors boosted its position in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. Capital International Investors boosted its position in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Norges Bank bought a new position in shares of CVS Health in the fourth quarter worth approximately $1,092,040,000. Finally, Capital Research Global Investors boosted its position in shares of CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after acquiring an additional 184,297 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

About CVS Health

(Get Free Report)

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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