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

CVS Health (NYSE:CVS - Get Free Report) had its target price boosted by research analysts at Truist Financial from $82.00 to $84.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the pharmacy operator's stock. Truist Financial's price target indicates a potential upside of 41.52% from the company's previous close.

Other research analysts have also issued reports about the company. Edward Jones upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised 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. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. Finally, Robert W. Baird lifted their price target on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.94.

CVS Health Price Performance

NYSE:CVS traded down $0.69 during mid-day trading on Monday, hitting $59.35. The company's stock had a trading volume of 3,625,196 shares, compared to its average volume of 11,438,928. The company has a market capitalization of $75.08 billion, a price-to-earnings ratio of 16.23, a P/E/G 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. The stock has a fifty day moving average of $66.71 and a 200-day moving average of $59.15. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

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

Insider Activity

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 transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael F. Mahoney acquired 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company's stock, valued at $2,625,045.20. The trade was a 320.65% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.22% of the company's stock.

Institutional Trading of CVS Health

Institutional investors have recently added to or reduced their stakes in the business. Essex Financial Services Inc. grew its holdings in CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock worth $1,403,000 after acquiring an additional 166 shares during the last quarter. Hemington Wealth Management boosted its holdings in shares of CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after purchasing an additional 172 shares during the period. McIlrath & Eck LLC increased its holdings in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares during the period. Sumitomo Life Insurance Co. raised its position in CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock valued at $1,159,000 after purchasing an additional 174 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its stake in shares of CVS Health by 3.7% during the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after buying an additional 178 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

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.