CVS Health (NYSE:CVS) Price Target Raised to $80.00

Key Points

• Investment analysts at Barclays have raised CVS Health's price target from $79.00 to $80.00, indicating a potential upside of 28.40% from the previous close.
• CVS Health has received an average rating of "Moderate Buy" from analysts, with 18 buy ratings, three hold ratings, and one strong buy rating.
• The company's latest earnings report revealed an EPS of $1.81, exceeding the consensus estimate by $0.35, with a revenue of $98.92 billion for the quarter.

CVS Health (NYSE:CVS - Get Free Report) had its price objective increased by investment analysts at Barclays from $79.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the pharmacy operator's stock. Barclays's price objective would indicate a potential upside of 28.40% from the company's previous close.

Several other equities analysts have also recently weighed in on the stock. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Mizuho raised their price target on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Jefferies Financial Group raised their price target on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Finally, Bernstein Bank decreased their target price on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $74.72.

CVS Health Stock Performance

Shares of CVS stock opened at $62.31 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. The company has a market capitalization of $78.82 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 0.89 and a beta of 0.57. The company's 50 day moving average price is $64.52 and its two-hundred day moving average price is $63.77. CVS Health has a 52 week low of $43.56 and a 52 week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. On average, analysts expect that CVS Health will post 5.89 earnings per share for the current fiscal year.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone bought 1,570 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.22% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors raised its stake in CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after acquiring an additional 12,819,148 shares in the last quarter. Dodge & Cox raised its stake in CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after acquiring an additional 7,075,209 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in CVS Health by 87.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator's stock worth $672,598,000 after acquiring an additional 4,632,530 shares in the last quarter. Invesco Ltd. raised its stake in CVS Health by 30.1% during the fourth quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator's stock worth $809,730,000 after acquiring an additional 4,173,243 shares in the last quarter. Finally, Nuveen LLC acquired a new position in CVS Health during the first quarter worth about $204,421,000. Institutional investors and hedge funds 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.

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