Argus Cuts CVS Health (NYSE:CVS) Price Target to $80.00

CVS Health (NYSE:CVS - Get Free Report) had its price target dropped by analysts at Argus from $100.00 to $80.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the pharmacy operator's stock. Argus' price objective indicates a potential upside of 45.64% from the company's previous close.

A number of other research firms also recently issued reports on CVS. Royal Bank of Canada cut their price objective on shares of CVS Health from $86.00 to $84.00 and set an "outperform" rating on the stock in a report on Thursday, February 8th. Truist Financial reaffirmed a "buy" rating and issued a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. SVB Leerink reiterated a "market perform" rating and issued a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Barclays lowered their price objective on CVS Health from $78.00 to $63.00 and set an "equal weight" rating for the company in a research report on Thursday, May 2nd. Finally, Bank of America decreased their price objective on shares of CVS Health from $95.00 to $77.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and an average target price of $77.67.

CVS Health Trading Down 1.5 %

NYSE CVS traded down $0.81 on Wednesday, reaching $54.93. The company had a trading volume of 13,618,157 shares, compared to its average volume of 11,890,314. The business has a 50 day moving average of $71.95 and a two-hundred day moving average of $73.09. CVS Health has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The firm has a market cap of $68.96 billion, a price-to-earnings ratio of 9.73, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61.

CVS Health (NYSE:CVS - Get Free Report) last issued its 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). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts forecast that CVS Health will post 7.03 EPS for the current year.

Insider Activity at CVS Health

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

Institutional Investors Weigh In On CVS Health

A number of institutional investors and hedge funds have recently made changes to their positions in CVS. Vanguard Group Inc. increased its position in shares of CVS Health by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator's stock valued at $9,293,299,000 after purchasing an additional 533,659 shares during the last quarter. Capital World Investors grew its holdings in shares of CVS Health by 0.3% during the fourth quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator's stock worth $3,201,410,000 after purchasing an additional 119,631 shares during the last quarter. Capital International Investors lifted its holdings in shares of CVS Health by 47.4% in the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator's stock valued at $2,660,298,000 after purchasing an additional 10,837,801 shares during the last quarter. FMR LLC increased its position in CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator's stock worth $1,919,159,000 after buying an additional 6,194,441 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of CVS Health by 2.2% in the 3rd quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator's stock valued at $992,442,000 after acquiring an additional 305,564 shares during the period. 80.66% of the stock is 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.