Barclays Cuts CVS Health (NYSE:CVS) Price Target to $71.00

CVS Health (NYSE:CVS) had its target price dropped by equities researchers at Barclays from $75.00 to $71.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the pharmacy operator’s stock. Barclays‘s target price suggests a potential upside of 19.49% from the stock’s current price.

CVS has been the subject of a number of other reports. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Truist Financial raised their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Evercore ISI lifted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Finally, Wells Fargo & Company reduced their price objective on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $72.89.

CVS Health Trading Down 3.6 %

NYSE CVS traded down $2.19 during mid-day trading on Thursday, reaching $59.42. 4,319,624 shares of the stock were exchanged, compared to its average volume of 11,227,788. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The stock has a market cap of $74.75 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.82 and a beta of 0.55. The stock has a 50 day simple moving average of $59.59 and a 200-day simple moving average of $59.23. CVS Health has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $2.21 earnings per share. On average, analysts anticipate that CVS Health will post 6.27 EPS for the current year.

Institutional Trading of CVS Health

Several hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors raised its position in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. Capital International Investors raised its position in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Capital Research Global Investors raised its position in shares of CVS Health by 1.4% in the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock valued at $1,048,351,000 after purchasing an additional 184,297 shares during the period. Pzena Investment Management LLC raised its position in shares of CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of CVS Health by 5.9% in the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock valued at $555,406,000 after purchasing an additional 389,166 shares during the period. 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.