CVS Health (NYSE:CVS) Price Target Raised to $85.00

Key Points

• Wolfe Research raised its price target for CVS Health from $80.00 to $85.00, indicating a potential upside of 14.17% from the stock's previous close.
• CVS Health reported earnings per share of $1.81 for the last quarter, exceeding analysts' estimates of $1.46, with revenue reaching $98.92 billion.
• Overall, CVS Health has received mixed ratings from analysts, with two giving a Strong Buy, nineteen a Buy, and three a Hold.

CVS Health (NYSE:CVS - Get Free Report) had its price objective boosted by investment analysts at Wolfe Research from $80.00 to $85.00 in a research note issued on Monday,MarketScreener reports. The firm presently has an "outperform" rating on the pharmacy operator's stock. Wolfe Research's price target would suggest a potential upside of 12.91% from the stock's current price.

Several other equities research analysts have also issued reports on the stock. Sanford C. Bernstein lifted their target price on shares of CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research report on Friday, September 5th. Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Jefferies Financial Group raised their price target on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Finally, Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research note on Sunday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.25.

CVS Health Stock Up 0.5%

Shares of NYSE:CVS traded up $0.36 during midday trading on Monday, reaching $75.28. 7,226,341 shares of the company were exchanged, compared to its average volume of 7,002,839. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health has a fifty-two week low of $43.56 and a fifty-two week high of $76.24. The stock has a fifty day simple moving average of $68.13 and a two-hundred day simple moving average of $66.70. The firm has a market cap of $95.48 billion, a PE ratio of 21.03, a P/E/G ratio of 0.83 and a beta of 0.62.

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

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.22% of the company's stock.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently made changes to their positions in CVS. Vanguard Group Inc. lifted its stake in CVS Health by 1.7% during the second quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator's stock worth $8,305,132,000 after purchasing an additional 2,063,737 shares during the period. Dodge & Cox raised its position in shares of CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after buying an additional 3,353,223 shares in the last quarter. State Street Corp increased its stake in CVS Health by 1.4% in the second quarter. State Street Corp now owns 58,788,585 shares of the pharmacy operator's stock valued at $4,055,237,000 after acquiring an additional 800,414 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of CVS Health by 2.4% during the second quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator's stock worth $1,966,083,000 after buying an additional 675,824 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in CVS Health by 15.3% in the second quarter. Invesco Ltd. now owns 23,532,479 shares of the pharmacy operator's stock valued at $1,623,270,000 after purchasing an additional 3,118,626 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

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.