Truist Financial Increases CVS Health (NYSE:CVS) Price Target to $118.00

Key Points

• Truist Financial raised its price target on CVS Health from $108 to $118 and kept a buy rating, implying about 11.5% upside from the prior close.
• Other analysts remain broadly positive on CVS, with several recent target increases and a consensus rating of Moderate Buy with an average price target of $104.04.
• CVS posted stronger-than-expected quarterly results, beating EPS and revenue estimates, while insider selling has been notable, including large share sales by an executive and a director over the past 90 days.

CVS Health (NYSE:CVS - Get Free Report) had its target price boosted by investment analysts at Truist Financial from $108.00 to $118.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the pharmacy operator's stock. Truist Financial's target price suggests a potential upside of 11.49% from the company's previous close.

A number of other brokerages have also recently commented on CVS. Robert W. Baird lifted their target price on shares of CVS Health from $92.00 to $94.00 and gave the company an "outperform" rating in a report on Wednesday, April 15th. Bank of America lifted their target price on shares of CVS Health from $100.00 to $110.00 and gave the company a "buy" rating in a report on Monday, June 22nd. HSBC reissued a "hold" rating and set a $103.00 price target on shares of CVS Health in a report on Monday, July 6th. Barclays lifted their price objective on CVS Health from $101.00 to $106.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Finally, Piper Sandler reissued an "overweight" rating and set a $113.00 target price on shares of CVS Health in a research note on Monday, June 1st. Twenty-one investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and a consensus price target of $104.04.

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CVS Health Trading Down 0.1%

NYSE CVS opened at $105.83 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.87 and a quick ratio of 0.66. The firm's fifty day moving average price is $97.36 and its 200 day moving average price is $84.41. The company has a market capitalization of $135.04 billion, a price-to-earnings ratio of 46.71, a price-to-earnings-growth ratio of 1.02 and a beta of 0.61. CVS Health has a 12 month low of $58.50 and a 12 month high of $106.39.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.36. CVS Health had a net margin of 0.72% and a return on equity of 11.88%. The firm had revenue of $100.43 billion during the quarter, compared to analysts' expectations of $94.99 billion. During the same period in the previous year, the company earned $2.25 earnings per share. CVS Health's quarterly revenue was up 6.2% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.300-7.500 EPS. On average, sell-side analysts expect that CVS Health will post 7.44 earnings per share for the current fiscal year.

Insider Activity

In other CVS Health news, EVP Tilak Mandadi sold 69,551 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $89.58, for a total transaction of $6,230,378.58. Following the transaction, the executive vice president directly owned 10,133 shares in the company, valued at approximately $907,714.14. This represents a 87.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Larry Robbins sold 1,983,538 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $94.45, for a total value of $187,345,164.10. Following the sale, the director directly owned 6,213,261 shares in the company, valued at $586,842,501.45. This trade represents a 24.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,441,551 shares of company stock worth $323,703,977 over the last 90 days. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CVS Health

Several hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its stake in shares of CVS Health by 407.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 350 shares of the pharmacy operator's stock worth $26,000 after purchasing an additional 281 shares in the last quarter. Swiss RE Ltd. purchased a new position in CVS Health during the fourth quarter worth $26,000. Sankala Group LLC acquired a new position in shares of CVS Health in the fourth quarter worth $28,000. Global Trust Asset Management LLC lifted its position in shares of CVS Health by 344.8% in the first quarter. Global Trust Asset Management LLC now owns 387 shares of the pharmacy operator's stock valued at $28,000 after acquiring an additional 300 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of CVS Health during the fourth quarter valued at $28,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Company Profile

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.

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