Barclays Cuts CVS Health (NYSE:CVS) Price Target to $71.00

CVS Health (NYSE:CVS) had its target price cut by equities researchers at Barclays from $75.00 to $71.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the pharmacy operator’s stock. Barclays‘s target price points to a potential upside of 19.49% from the stock’s previous close.

CVS has been the topic of a number of other reports. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $85.00 in a report on Friday, October 4th. Wells Fargo & Company lowered their price target on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Truist Financial increased their price target on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $72.89.

CVS Health Stock Down 3.6 %

NYSE:CVS traded down $2.19 on Thursday, hitting $59.42. 4,319,624 shares of the company’s stock were exchanged, compared to its average volume of 11,227,788. The firm has a 50-day moving average price of $59.59 and a 200-day moving average price of $59.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health has a 52 week low of $52.77 and a 52 week high of $83.25. The company has a market cap of $74.75 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 EPS. As a group, analysts expect that CVS Health will post 6.27 EPS for the current fiscal year.

Hedge Funds Weigh In On CVS Health

Large investors have recently modified their holdings of the business. Cullinan Associates Inc. raised its stake in shares of CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after acquiring an additional 37,395 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of CVS Health during the second quarter valued at $57,584,000. CX Institutional raised its stake in CVS Health by 698.0% during the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after buying an additional 65,259 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its stake in CVS Health by 27.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after buying an additional 145,158 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in CVS Health by 11.0% during the third quarter. AustralianSuper Pty Ltd now owns 1,537,791 shares of the pharmacy operator’s stock worth $96,696,000 after buying an additional 151,901 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

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.