Wolfe Research Forecasts Strong Price Appreciation for CVS Health (NYSE:CVS) Stock

CVS Health (NYSE:CVS) had its price target increased by analysts at Wolfe Research from 67.00 to 70.00 in a note issued to investors on Tuesday. The firm presently has an “overweight” rating on the pharmacy operator’s stock.

A number of other research firms have also issued reports on CVS. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Barclays cut their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. TD Cowen boosted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Truist Financial reduced their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Evercore ISI boosted their target price on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.06.

CVS Health Stock Performance

Shares of CVS traded up $0.72 during mid-day trading on Tuesday, hitting $55.01. 12,638,728 shares of the company’s stock were exchanged, compared to its average volume of 12,420,470. The firm has a market capitalization of $69.23 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.60 and a beta of 0.61. CVS Health has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The business’s 50 day moving average is $50.69 and its two-hundred day moving average is $55.95. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Davis Selected Advisers boosted its position in shares of CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after acquiring an additional 11,018,438 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares during the period. Raymond James Financial Inc. purchased a new position in shares of CVS Health in the 4th quarter worth $116,033,000. Finally, ARGA Investment Management LP boosted its holdings in CVS Health by 7,567.7% in the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after acquiring an additional 2,371,563 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.