CVS Health (NYSE:CVS) Price Target Raised to $71.00

CVS Health (NYSE:CVS - Get Free Report) had its price target raised by research analysts at Robert W. Baird from $51.00 to $71.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the pharmacy operator's stock. Robert W. Baird's price objective would suggest a potential upside of 5.68% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. UBS Group reduced their target price on CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Edward Jones upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Piper Sandler boosted their price target on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Finally, Mizuho raised their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $71.83.

CVS Health Price Performance

Shares of CVS Health stock traded down $1.37 on Tuesday, reaching $67.19. 16,054,208 shares of the stock were exchanged, compared to its average volume of 11,827,434. The firm's 50 day moving average is $66.46 and its 200-day moving average is $58.77. The firm has a market cap of $84.71 billion, a PE ratio of 18.36, a P/E/G ratio of 0.98 and a beta of 0.57. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health has a one year low of $43.56 and a one year high of $71.45.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, analysts anticipate that CVS Health will post 5.89 EPS for the current fiscal year.

Insider Buying and Selling at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The shares were 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 of the company's stock, valued at $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.22% of the company's stock.

Hedge Funds Weigh In On CVS Health

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ridgewood Investments LLC grew its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health in the 4th quarter worth about $28,000. Hopwood Financial Services Inc. bought a new stake in shares of CVS Health in the 4th quarter worth approximately $29,000. McIlrath & Eck LLC increased its holdings in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Finally, Financial Perspectives Inc raised its holdings in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after buying an additional 466 shares during the last quarter. 80.66% of the stock is 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.