Barclays Cuts CVS Health (NYSE:CVS) Price Target to $79.00

CVS Health (NYSE:CVS - Get Free Report) had its price objective decreased by equities research analysts at Barclays from $82.00 to $79.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the pharmacy operator's stock. Barclays's price objective points to a potential upside of 24.17% from the stock's previous close.

Several other equities research analysts have also recently weighed in on CVS. Piper Sandler upped their price target on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Royal Bank of Canada boosted their target price on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Cantor Fitzgerald raised CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their target price on CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Finally, Truist Financial boosted their target price on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.75.

CVS Health Trading Up 0.0%

Shares of CVS traded up $0.02 during mid-day trading on Monday, hitting $63.62. 6,453,352 shares of the company's stock traded hands, compared to its average volume of 11,152,648. The company has a quick ratio of 0.60, a current ratio of 0.81 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 $72.51. The firm has a market capitalization of $80.48 billion, a P/E ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.60. The business's 50-day moving average price is $65.54 and its 200-day moving average price is $59.74.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The firm had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same period in the previous year, the firm earned $1.31 earnings per share. The business's revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that CVS Health will post 5.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.22% of the company's stock.

Institutional Trading of CVS Health

Several institutional investors have recently made changes to their positions in the business. Modern Wealth Management LLC purchased a new stake in shares of CVS Health during the first quarter worth about $204,000. Strs Ohio purchased a new stake in shares of CVS Health during the first quarter worth about $55,775,000. GK Wealth Management LLC purchased a new stake in shares of CVS Health during the first quarter worth about $253,000. Jacobi Capital Management LLC grew its position in shares of CVS Health by 4.6% during the first quarter. Jacobi Capital Management LLC now owns 30,255 shares of the pharmacy operator's stock worth $2,050,000 after purchasing an additional 1,317 shares in the last quarter. Finally, Advisors Capital Management LLC grew its position in shares of CVS Health by 7.3% during the first quarter. Advisors Capital Management LLC now owns 217,896 shares of the pharmacy operator's stock worth $14,762,000 after purchasing an additional 14,761 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 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.