Cantor Fitzgerald Reaffirms Neutral Rating for CVS Health (NYSE:CVS)

CVS Health (NYSE:CVS)‘s stock had its “neutral” rating reiterated by equities researchers at Cantor Fitzgerald in a note issued to investors on Tuesday, Benzinga reports. They currently have a $62.00 price target on the pharmacy operator’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 1.13% from the company’s current price.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Wells Fargo & Company boosted their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Evercore ISI reduced their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Barclays reduced their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

CVS Health Stock Performance

NYSE CVS traded down $1.57 on Tuesday, reaching $61.31. 2,999,154 shares of the stock were exchanged, compared to its average volume of 10,879,581. The firm has a market capitalization of $76.97 billion, a PE ratio of 10.87, a PEG ratio of 0.81 and a beta of 0.53. CVS Health has a one year low of $52.77 and a one year high of $83.25. The company’s 50-day simple moving average is $58.29 and its two-hundred day simple moving average is $61.77. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 EPS. Analysts expect that CVS Health will post 6.51 EPS for the current fiscal year.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital International Investors increased its stake in CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after purchasing an additional 10,837,801 shares during the period. Pzena Investment Management LLC grew its stake in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares in the last quarter. Capital World Investors boosted its holdings in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. State of Michigan Retirement System grew its stake in CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after purchasing an additional 1,606,500 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in CVS Health during the 4th quarter worth $111,209,000. 80.66% of the stock is currently owned by hedge funds and other 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.