Jefferies Financial Group Forecasts Strong Price Appreciation for CVS Health (NYSE:CVS) Stock

CVS Health (NYSE:CVS - Get Free Report) had its price target upped by stock analysts at Jefferies Financial Group from $74.00 to $80.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the pharmacy operator's stock. Jefferies Financial Group's target price suggests a potential upside of 16.43% from the stock's current price.

A number of other analysts have also recently commented on the company. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Barclays set a $79.00 price target on CVS Health and gave the company an "overweight" rating in a report on Monday, June 2nd. Cowen reiterated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Piper Sandler boosted their price objective on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, Robert W. Baird boosted their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Two 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

CVS Health Price Performance

Shares of CVS Health stock traded up $0.22 during trading hours on Monday, reaching $68.71. 870,875 shares of the company's stock were exchanged, compared to its average volume of 10,814,929. CVS Health has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a market capitalization of $86.92 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. The business has a fifty day moving average of $64.86 and a two-hundred day moving average of $60.93. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS - Get Free Report) last posted 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. The company had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. CVS Health's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 EPS. As a group, research analysts predict that CVS Health will post 5.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director now directly owns 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.22% of the company's stock.

Institutional Investors Weigh In On CVS Health

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

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