CVS Health (NYSE:CVS) Given New $88.00 Price Target at Mizuho

Key Points

• Mizuho has raised its price target for CVS Health from $76.00 to $88.00, indicating a potential upside of 14.24% from the previous close and maintaining an "outperform" rating on the stock.
• The company reported a better-than-expected quarterly earnings per share of $1.81, surpassing the consensus estimate by $0.35, with revenue rising 8.4% year-over-year.
• Multiple analysts have upgraded CVS Health's ratings, with two issuing a Strong Buy, nineteen a Buy, and four a Hold rating, reflecting a consensus rating of "Moderate Buy" for the stock.

CVS Health (NYSE:CVS - Get Free Report) had its price objective increased by Mizuho from $76.00 to $88.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the pharmacy operator's stock. Mizuho's price objective indicates a potential upside of 14.24% from the company's previous close.

A number of other research analysts have also issued reports on the stock. Wolfe Research raised their target price on shares of CVS Health from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Sunday, September 21st. Cantor Fitzgerald reissued an "overweight" rating and set a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. Baird R W raised CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Finally, Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus price target of $79.80.

CVS Health Stock Up 0.1%

CVS Health stock opened at $77.03 on Thursday. CVS Health has a 1-year low of $43.56 and a 1-year high of $79.20. The firm's fifty day simple moving average is $71.68 and its 200-day simple moving average is $67.52. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $97.70 billion, a P/E ratio of 21.67, a P/E/G ratio of 0.85 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The firm's revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts forecast that CVS Health will post 5.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director owned 22,156 shares in the company, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Avion Wealth grew its stake in shares of CVS Health by 99.0% in the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator's stock valued at $26,000 after purchasing an additional 189 shares during the period. Harbor Asset Planning Inc. acquired a new position in CVS Health during the second quarter worth $30,000. Bell Investment Advisors Inc boosted its stake in shares of CVS Health by 119.8% in the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock valued at $31,000 after purchasing an additional 248 shares in the last quarter. Front Row Advisors LLC grew its holdings in shares of CVS Health by 436.5% in the 2nd quarter. Front Row Advisors LLC now owns 456 shares of the pharmacy operator's stock worth $31,000 after purchasing an additional 371 shares during the last quarter. Finally, Roxbury Financial LLC increased its position in shares of CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.