StockNews.com Upgrades CVS Health (NYSE:CVS) to “Buy”

CVS Health (NYSE:CVS) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Several other research firms have also commented on CVS. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a research report on Thursday, September 14th. Truist Financial reduced their price target on CVS Health from $103.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. Evercore ISI raised CVS Health from an “in-line” rating to an “outperform” rating and upped their target price for the company from $81.00 to $83.00 in a research report on Tuesday, September 19th. Morgan Stanley reduced their target price on CVS Health from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Finally, Piper Sandler reduced their target price on CVS Health from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, September 1st. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.59.

CVS Health Trading Down 0.8 %

CVS traded down $0.55 during trading hours on Monday, reaching $68.26. 6,392,927 shares of the company’s stock traded hands, compared to its average volume of 8,703,281. The firm has a 50-day moving average price of $69.87 and a 200 day moving average price of $70.00. CVS Health has a 52-week low of $64.41 and a 52-week high of $104.83. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $87.84 billion, a PE ratio of 10.30, a PEG ratio of 1.78 and a beta of 0.58.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 1st. The pharmacy operator reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.08. The business had revenue of $89.76 billion during the quarter, compared to analysts’ expectations of $88.29 billion. CVS Health had a return on equity of 15.36% and a net margin of 2.47%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.09 EPS. As a group, sell-side analysts predict that CVS Health will post 8.59 EPS for the current fiscal year.

Insider Activity

In other news, Director Edward J. Ludwig bought 2,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were acquired at an average price of $70.47 per share, for a total transaction of $140,940.00. Following the completion of the transaction, the director now directly owns 20,630 shares in the company, valued at approximately $1,453,796.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVS. Live Oak Investment Partners purchased a new position in shares of CVS Health during the fourth quarter worth $25,000. Cornerstone Planning Group LLC boosted its position in shares of CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 243 shares during the period. True Wealth Design LLC purchased a new position in shares of CVS Health during the fourth quarter worth $48,000. PCA Investment Advisory Services Inc. purchased a new position in CVS Health in the second quarter valued at $37,000. Finally, 25 LLC purchased a new position in CVS Health in the first quarter valued at $39,000. Institutional investors and hedge funds own 75.99% of the company’s stock.

CVS Health Company Profile

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.