Wolfe Research Forecasts Strong Price Appreciation for CVS Health (NYSE:CVS) Stock

CVS Health (NYSE:CVS) had its target price boosted by analysts at Wolfe Research from 67.00 to 70.00 in a research report issued on Tuesday. The brokerage currently has an “overweight” rating on the pharmacy operator’s stock.

Other research analysts have also recently issued research reports about the stock. Piper Sandler reduced their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. TD Cowen boosted their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Royal Bank of Canada reduced their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, UBS Group cut their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $68.06.

CVS Health Stock Performance

Shares of NYSE CVS traded up $0.72 during midday trading on Tuesday, reaching $55.01. The company had a trading volume of 12,638,728 shares, compared to its average volume of 12,420,470. The stock has a market cap of $69.23 billion, a P/E ratio of 13.96, a P/E/G 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 1 year low of $43.56 and a 1 year high of $80.75. The business’s 50-day simple moving average is $50.69 and its 200 day simple moving average is $55.95.

Institutional Investors Weigh In On CVS Health

Several large investors have recently added to or reduced their stakes in CVS. State Street Corp grew its holdings in CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CVS Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after purchasing an additional 461,569 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after acquiring an additional 6,475,271 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CVS Health by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator’s stock valued at $579,932,000 after purchasing an additional 710,281 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

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.