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

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

Other research analysts have also issued reports about the stock. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Barclays decreased their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. Finally, UBS Group reduced their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.78.

CVS Health Stock Performance

CVS Health stock opened at $63.23 on Tuesday. CVS Health has a 1-year low of $43.56 and a 1-year high of $80.75. The firm has a market cap of $79.57 billion, a P/E ratio of 16.05, a P/E/G ratio of 0.60 and a beta of 0.61. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average of $50.61 and a 200-day moving average of $55.92.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. Sell-side analysts expect that CVS Health will post 5.14 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CVS. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the third quarter worth approximately $25,000. Ridgewood Investments LLC grew its position in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the period. Stonebridge Financial Group LLC purchased a new stake in CVS Health during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. bought a new position in shares of CVS Health during the 4th quarter valued at $29,000. Finally, Livelsberger Financial Advisory purchased a new position in CVS Health in the third quarter worth about $31,000. 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.