CVS Health (NYSE:CVS) Stock Moved Down to "Buy" by Wall Street Zen

Key Points

• Wall Street Zen downgraded CVS Health from “strong buy” to “buy,” although the broader analyst consensus remains “Moderate Buy,” with 22 buy ratings and one hold rating and an average price target of $107.24.
• CVS reported quarterly EPS of $2.58, beating the $1.87 consensus estimate, while revenue reached $106.10 billion and rose 7.3% year over year.
• Institutional ownership remains substantial at 80.66%, with BlackRock, State Street, Wellington Management and Bank of America among investors that increased or initiated positions.

CVS Health (NYSE:CVS - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently commented on the company. Piper Sandler set a $112.00 price objective on CVS Health in a research report on Wednesday, September 9th. Mizuho raised their price target on CVS Health from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Weiss Ratings upgraded CVS Health from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. Bank of America upped their price objective on shares of CVS Health from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Finally, HSBC restated a "hold" rating and issued a $103.00 target price on shares of CVS Health in a report on Monday, July 6th. Twenty-two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $107.24.

CVS Health Stock Performance

Shares of NYSE CVS opened at $86.40 on Friday. The company has a 50-day simple moving average of $94.68 and a 200-day simple moving average of $91.90. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66. The company has a market cap of $110.50 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 0.83 and a beta of 0.60. CVS Health has a 12 month low of $69.51 and a 12 month high of $110.68.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.71. The business had revenue of $106.10 billion for the quarter, compared to the consensus estimate of $100.03 billion. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 earnings per share. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. On average, equities analysts anticipate that CVS Health will post 8.02 earnings per share for the current year.

Institutional Trading of CVS Health

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in CVS Health during the second quarter valued at approximately $12,747,462,000. State Street Corp increased its position in shares of CVS Health by 26.3% in the second quarter. State Street Corp now owns 74,927,064 shares of the pharmacy operator's stock worth $7,751,205,000 after acquiring an additional 15,604,883 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of CVS Health by 49.8% in the 2nd quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator's stock valued at $3,496,725,000 after acquiring an additional 11,233,381 shares during the period. Capital International Investors raised its stake in shares of CVS Health by 3.4% in the 4th quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator's stock valued at $2,189,793,000 after acquiring an additional 900,153 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of CVS Health by 148.0% during the 2nd quarter. Bank of America Corp DE now owns 23,188,670 shares of the pharmacy operator's stock valued at $2,398,868,000 after acquiring an additional 13,836,701 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Company Profile

CVS Health Corp. is an integrated health care company that provides pharmacy, insurance and health services primarily in the United States. Its operations are designed to connect consumers, health plans, health care providers and pharmacy services across multiple points of care.

The company's major businesses include CVS Pharmacy retail locations, prescription fulfillment and consumer health products; CVS Caremark, a pharmacy benefit management business; and Aetna, which offers health insurance products and related services for employers, individuals, government programs and other organizations.

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