CVS Health (NYSE:CVS) Price Target Lowered to $77.00 at Bank of America

CVS Health (NYSE:CVS - Get Free Report) had its price objective reduced by investment analysts at Bank of America from $95.00 to $77.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the pharmacy operator's stock. Bank of America's price target indicates a potential upside of 39.62% from the stock's previous close.

CVS has been the topic of a number of other research reports. Piper Sandler increased their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Friday, March 15th. Barclays cut their price target on shares of CVS Health from $78.00 to $63.00 and set an "equal weight" rating on the stock in a research note on Thursday. Leerink Partnrs reissued an "outperform" rating on shares of CVS Health in a research report on Monday, February 26th. StockNews.com lowered shares of CVS Health from a "buy" rating to a "hold" rating in a research report on Thursday, February 15th. Finally, UBS Group lowered shares of CVS Health from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $85.00 to $60.00 in a research report on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.35.

CVS Health Trading Down 2.1 %

Shares of CVS traded down $1.16 on Thursday, hitting $55.15. 37,808,624 shares of the stock traded hands, compared to its average volume of 11,608,837. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $69.52 billion, a P/E ratio of 8.54, a P/E/G ratio of 0.90 and a beta of 0.56. The stock's 50 day moving average is $73.19 and its two-hundred day moving average is $73.37. CVS Health has a 1 year low of $53.70 and a 1 year high of $83.25.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to analysts' expectations of $89.33 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. As a group, sell-side analysts predict that CVS Health will post 8.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Edward J. Ludwig acquired 1,000 shares of the firm's stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Prem S. Shah sold 29,473 shares of the firm's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Mission Wealth Management LP lifted its position in CVS Health by 4.3% in the 3rd quarter. Mission Wealth Management LP now owns 5,081 shares of the pharmacy operator's stock valued at $355,000 after purchasing an additional 210 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in shares of CVS Health by 6.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 65,885 shares of the pharmacy operator's stock worth $4,600,000 after buying an additional 3,874 shares in the last quarter. Stratos Wealth Advisors LLC raised its position in shares of CVS Health by 82.5% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,614 shares of the pharmacy operator's stock worth $462,000 after buying an additional 2,990 shares in the last quarter. NorthRock Partners LLC raised its position in shares of CVS Health by 24.0% during the 3rd quarter. NorthRock Partners LLC now owns 8,307 shares of the pharmacy operator's stock worth $580,000 after buying an additional 1,606 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of CVS Health by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 10,678,078 shares of the pharmacy operator's stock worth $745,543,000 after buying an additional 266,650 shares in the last quarter. 80.66% of the stock is currently 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.