CVS Health (NYSE:CVS) Price Target Cut to $63.00

CVS Health (NYSE:CVS) had its price objective dropped by research analysts at Deutsche Bank Aktiengesellschaft from $64.00 to $63.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the pharmacy operator’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 10.31% from the company’s current price.

A number of other brokerages have also recently issued reports on CVS. JPMorgan Chase & Co. cut their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Mizuho dropped their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Bank of America cut their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Argus reduced their price target on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Barclays decreased their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.19.

CVS Health Trading Down 1.3 %

CVS traded down $0.74 during midday trading on Friday, hitting $57.11. 8,345,205 shares of the company were exchanged, compared to its average volume of 11,546,901. The firm has a market capitalization of $71.69 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.57 and a beta of 0.52. The firm’s 50 day moving average price is $59.45 and its 200-day moving average price is $66.19. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health has a 1-year low of $52.77 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts forecast that CVS Health will post 7 EPS for the current fiscal year.

Hedge Funds Weigh In On CVS Health

Several hedge funds and other institutional investors have recently modified their holdings of CVS. Edgestream Partners L.P. purchased a new position in shares of CVS Health during the 2nd quarter worth $1,140,000. Excalibur Management Corp raised its stake in CVS Health by 3.4% during the second quarter. Excalibur Management Corp now owns 45,784 shares of the pharmacy operator’s stock valued at $2,704,000 after purchasing an additional 1,526 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of CVS Health by 20.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 39,261 shares of the pharmacy operator’s stock valued at $2,319,000 after purchasing an additional 6,670 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in CVS Health by 1.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 148,522 shares of the pharmacy operator’s stock worth $8,778,000 after buying an additional 1,688 shares during the period. Finally, Waycross Partners LLC raised its holdings in shares of CVS Health by 11.3% in the second quarter. Waycross Partners LLC now owns 207,539 shares of the pharmacy operator’s stock worth $12,257,000 after buying an additional 21,135 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.