CVS Health (NYSE:CVS) Rating Reiterated by Cantor Fitzgerald

CVS Health (NYSE:CVS)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research note issued on Tuesday, Benzinga reports. They currently have a $87.00 target price on the pharmacy operator’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 27.36% from the stock’s previous close.

Several other analysts also recently weighed in on CVS. Morgan Stanley dropped their target price on shares of CVS Health from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Piper Sandler decreased their target price on CVS Health from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday, September 1st. Raymond James dropped their target price on CVS Health from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Wolfe Research raised shares of CVS Health from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Tuesday, September 12th. Finally, Barclays cut their target price on shares of CVS Health from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.59.

CVS Health Trading Up 0.1 %

CVS Health stock traded up $0.05 during mid-day trading on Tuesday, hitting $68.31. The company’s stock had a trading volume of 929,355 shares, compared to its average volume of 8,667,646. CVS Health has a 1 year low of $64.41 and a 1 year high of $104.83. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $87.91 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58. The stock’s fifty day moving average is $69.86 and its two-hundred day moving average is $70.00.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 1st. The pharmacy operator reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.08. The firm had revenue of $89.76 billion for the quarter, compared to analyst estimates of $88.29 billion. CVS Health had a net margin of 2.47% and a return on equity of 15.36%. CVS Health’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.09 EPS. On average, analysts anticipate that CVS Health will post 8.59 EPS for the current year.

Insider Transactions at CVS Health

In related news, Director Edward J. Ludwig bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were purchased at an average cost of $70.47 per share, with a total value of $140,940.00. Following the transaction, the director now directly owns 20,630 shares of the company’s stock, valued at approximately $1,453,796.10. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CVS. Moneta Group Investment Advisors LLC grew its holdings in shares of CVS Health by 103,371.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock worth $1,448,877,000 after buying an additional 15,532,533 shares during the last quarter. Norges Bank purchased a new position in shares of CVS Health in the 4th quarter valued at approximately $1,425,416,000. FMR LLC raised its stake in shares of CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of CVS Health during the second quarter worth $389,723,000. Finally, Two Sigma Advisers LP grew its position in CVS Health by 696.4% in the 1st quarter. Two Sigma Advisers LP now owns 5,464,700 shares of the pharmacy operator’s stock valued at $406,082,000 after buying an additional 4,778,500 shares during the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.

About CVS Health

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.