CVS Health (NYSE:CVS) Price Target Raised to $84.00

CVS Health (NYSE:CVS - Get Free Report) had its price objective increased by analysts at Truist Financial from $82.00 to $84.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the pharmacy operator's stock. Truist Financial's price objective would indicate a potential upside of 34.38% from the company's previous close.

A number of other brokerages have also weighed in on CVS. Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 price target (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Wolfe Research boosted their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Cowen reissued a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Finally, UBS Group boosted their price objective on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Three 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $74.94.

CVS Health Trading Up 3.4%

Shares of NYSE:CVS traded up $2.04 during trading on Monday, reaching $62.51. The stock had a trading volume of 10,777,559 shares, compared to its average volume of 11,442,534. The business has a fifty day moving average price of $66.57 and a 200-day moving average price of $59.20. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market cap of $79.07 billion, a P/E ratio of 17.08, a PEG ratio of 0.98 and a beta of 0.60. CVS Health has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company's revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 earnings per share. As a group, analysts anticipate that CVS Health will post 5.89 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.22% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Woodline Partners LP boosted its stake in CVS Health by 95.1% during the 1st quarter. Woodline Partners LP now owns 106,518 shares of the pharmacy operator's stock valued at $7,217,000 after acquiring an additional 51,925 shares during the last quarter. Empowered Funds LLC boosted its stake in CVS Health by 560.4% during the 1st quarter. Empowered Funds LLC now owns 211,484 shares of the pharmacy operator's stock valued at $14,328,000 after acquiring an additional 179,461 shares during the last quarter. Logan Capital Management Inc. boosted its stake in CVS Health by 12.9% during the 1st quarter. Logan Capital Management Inc. now owns 19,790 shares of the pharmacy operator's stock valued at $1,341,000 after acquiring an additional 2,267 shares during the last quarter. MBB Public Markets I LLC bought a new position in CVS Health during the 1st quarter valued at $316,000. Finally, Ascent Group LLC bought a new position in CVS Health during the 1st quarter valued at $497,000. 80.66% of the stock is currently owned by institutional investors.

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.