CVS Health (NYSE:CVS) Stock Rating Upgraded by Baird R W

Key Points

• CVS Health was upgraded from a "hold" to a "strong-buy" rating by Baird R W, signaling increased confidence in the stock's potential.
• Several analysts have varying price targets for CVS, with upgrades from different firms, including Morgan Stanley and Royal Bank Of Canada, indicating a generally positive outlook.
• The pharmacy operator reported a quarterly EPS of $1.81, beating estimates by $0.35, with revenue hitting $98.92 billion, a significant 8.4% increase year-over-year.

CVS Health (NYSE:CVS - Get Free Report) was upgraded by equities researchers at Baird R W from a "hold" rating to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Bernstein Bank dropped their price target on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Morgan Stanley raised their price objective on CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Royal Bank Of Canada raised their price objective on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Finally, Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $71.00 to $82.00 in a report on Thursday. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $75.68.

CVS Health Stock Performance

Shares of CVS Health stock opened at $66.77 on Thursday. The company has a market capitalization of $84.68 billion, a PE ratio of 18.65, a PEG ratio of 0.73 and a beta of 0.58. CVS Health has a 12 month low of $43.56 and a 12 month high of $72.51. 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 stock's fifty day simple moving average is $64.86 and its 200 day simple moving average is $64.54.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 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 business had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter last year, the business posted $1.83 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that CVS Health will post 5.89 EPS for the current year.

Insider Activity

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The stock was purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the purchase, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.22% of the company's stock.

Institutional Investors Weigh In On CVS Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avion Wealth lifted its stake in CVS Health by 99.0% during the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator's stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in shares of CVS Health in the 2nd quarter valued at $30,000. Bell Investment Advisors Inc lifted 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 acquiring an additional 248 shares during the last quarter. McIlrath & Eck LLC lifted its stake in shares of CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Finally, Roxbury Financial LLC lifted its stake in shares of CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 202 shares during the last quarter. 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.

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