Wells Fargo & Company Issues Positive Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its target price boosted by research analysts at Wells Fargo & Company from $68.00 to $73.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the pharmacy operator’s stock. Wells Fargo & Company‘s target price points to a potential upside of 11.36% from the company’s current price.

Several other analysts have also issued reports on CVS. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Barclays increased their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada decreased their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Wolfe Research increased their price objective on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.28.

CVS Health Price Performance

Shares of CVS traded up $2.34 during midday trading on Thursday, reaching $65.56. The stock had a trading volume of 4,232,193 shares, compared to its average volume of 12,933,698. The company has a market capitalization of $82.50 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health has a 12-month low of $43.56 and a 12-month high of $80.75. The company’s 50-day moving average is $50.71 and its 200 day moving average is $55.94.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. On average, equities analysts predict that CVS Health will post 5.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CVS. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health in the third quarter worth about $25,000. Ridgewood Investments LLC grew its stake in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter valued at approximately $28,000. Hopwood Financial Services Inc. purchased a new position in CVS Health during the fourth quarter valued at $29,000. Finally, Livelsberger Financial Advisory bought a new stake in CVS Health in the third quarter worth $31,000. 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.