Barclays Lowers CVS Health (NYSE:CVS) Price Target to $63.00

CVS Health (NYSE:CVS) had its price target dropped by research analysts at Barclays from $78.00 to $63.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the pharmacy operator’s stock. Barclays‘s price target indicates a potential upside of 12.70% from the company’s previous close.

A number of other brokerages have also weighed in on CVS. Truist Financial restated a “buy” rating and set a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a research note on Thursday. Royal Bank of Canada lowered their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Wells Fargo & Company lowered their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, SVB Leerink restated a “market perform” rating and set a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a research note on Wednesday. Eight 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 presently has an average rating of “Moderate Buy” and a consensus price target of $80.35.

CVS Health Stock Up 1.4 %

Shares of NYSE:CVS traded up $0.75 during mid-day trading on Thursday, hitting $55.90. 23,946,075 shares of the company traded hands, compared to its average volume of 12,498,538. The firm has a market cap of $70.18 billion, a P/E ratio of 9.82, a PEG ratio of 0.86 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.81. CVS Health has a 52-week low of $53.70 and a 52-week high of $83.25. The firm’s 50 day simple moving average is $72.77 and its 200 day simple moving average is $73.26.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. On average, equities analysts anticipate that CVS Health will post 7.03 EPS for the current year.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

Hedge funds have recently added to or reduced their stakes in the business. Mission Wealth Management LP raised its stake in shares of CVS Health by 4.3% in the 3rd quarter. Mission Wealth Management LP now owns 5,081 shares of the pharmacy operator’s stock worth $355,000 after buying an additional 210 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of CVS Health by 6.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 65,885 shares of the pharmacy operator’s stock worth $4,600,000 after buying an additional 3,874 shares in the last quarter. Stratos Wealth Advisors LLC raised its stake in shares of CVS Health by 82.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,614 shares of the pharmacy operator’s stock worth $462,000 after buying an additional 2,990 shares in the last quarter. NorthRock Partners LLC raised its stake in shares of CVS Health by 24.0% in the 3rd quarter. NorthRock Partners LLC now owns 8,307 shares of the pharmacy operator’s stock worth $580,000 after buying an additional 1,606 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of CVS Health by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,678,078 shares of the pharmacy operator’s stock worth $745,543,000 after buying an additional 266,650 shares in the last quarter. 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.