CVS Health (NYSE:CVS) Stock Rating Upgraded by Wells Fargo & Company

CVS Health (NYSE:CVS) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, MarketBeat.com reports. The firm presently has a $66.00 price target on the pharmacy operator’s stock, up from their previous price target of $60.00. Wells Fargo & Company‘s price target suggests a potential upside of 18.25% from the stock’s current price.

A number of other equities research analysts have also issued reports on CVS. Royal Bank of Canada lowered their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their target price for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Barclays lowered their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $72.78.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $55.82 on Monday. The firm has a market capitalization of $70.24 billion, a PE ratio of 14.17, a P/E/G ratio of 0.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The business has a 50-day moving average of $59.18 and a two-hundred day moving average of $58.60. CVS Health has a 12 month low of $52.71 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 earnings per share. As a group, research analysts forecast that CVS Health will post 5.48 earnings per share for the current year.

Institutional Trading of CVS Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health in the 3rd quarter valued at approximately $32,000. Finally, First Community Trust NA increased its position in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.