Truist Financial Issues Positive Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its target price boosted by equities research analysts at Truist Financial from $82.00 to $84.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the pharmacy operator’s stock. Truist Financial’s price objective would suggest a potential upside of 38.84% from the stock’s previous close.

A number of other analysts have also recently issued reports on CVS. Morgan Stanley reissued an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Robert W. Baird raised their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a report on Tuesday, April 15th. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Royal Bank of Canada raised their price target on shares of CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Finally, Barclays raised their price target on shares of CVS Health from $73.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.94.

CVS Health Stock Performance

CVS stock opened at $60.50 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The stock has a market cap of $76.53 billion, a P/E ratio of 16.53, a P/E/G ratio of 0.98 and a beta of 0.60. The firm has a 50 day simple moving average of $66.84 and a 200 day simple moving average of $59.15. CVS Health has a 52 week low of $43.56 and a 52 week high of $72.51.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.31 earnings per share. Research analysts anticipate that CVS Health will post 5.89 earnings per share for the current fiscal year.

Insider Activity at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was a 47.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CVS Health

Several institutional investors and hedge funds have recently bought and sold shares of CVS. Stonebridge Financial Group LLC bought a new stake in CVS Health in the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new stake in CVS Health in the 4th quarter valued at $29,000. McIlrath & Eck LLC boosted its stake in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 174 shares in the last quarter. Financial Perspectives Inc boosted its stake in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after buying an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. boosted its stake in CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after buying an additional 437 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

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.