Evercore ISI Boosts CVS Health (NYSE:CVS) Price Target to $75.00

CVS Health (NYSE:CVS) had its target price raised by investment analysts at Evercore ISI from $62.00 to $75.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the pharmacy operator’s stock. Evercore ISI’s price target would suggest a potential upside of 14.26% from the company’s current price.

A number of other analysts also recently weighed in on CVS. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $85.00 in a research report on Friday. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Wells Fargo & Company upped their price target 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. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $74.05.

CVS Health Stock Performance

Shares of CVS traded up $0.39 during midday trading on Tuesday, reaching $65.64. 4,296,529 shares of the stock were exchanged, compared to its average volume of 11,001,532. The stock’s 50 day simple moving average is $58.67 and its 200 day simple moving average is $61.25. The company has a market cap of $82.40 billion, a P/E ratio of 11.54, a PEG ratio of 0.81 and a beta of 0.54. CVS Health has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts expect that CVS Health will post 6.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC boosted its stake in CVS Health by 132.9% during the 2nd 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 last quarter. Capital International Investors grew its holdings in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital World Investors raised its position in CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after buying an additional 3,232,172 shares during the last quarter. State of Michigan Retirement System boosted its holdings in CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after acquiring an additional 1,606,500 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of CVS Health in the 1st quarter worth $110,816,000. 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.