TD Cowen Raises CVS Health (NYSE:CVS) Price Target to $80.00

CVS Health (NYSE:CVS) had its price target boosted by TD Cowen from $73.00 to $80.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the pharmacy operator’s stock. TD Cowen’s price target would indicate a potential upside of 35.55% from the company’s current price.

CVS has been the topic of several other reports. Mizuho reduced their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Evercore ISI increased their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Barclays cut their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

CVS Health Stock Down 1.8 %

NYSE:CVS opened at $59.02 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average is $59.26 and its two-hundred day moving average is $58.69. CVS Health has a 52 week low of $52.71 and a 52 week high of $83.25. The stock has a market capitalization of $74.27 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Research analysts anticipate that CVS Health will post 5.43 EPS for the current year.

Hedge Funds Weigh In On CVS Health

A number of hedge funds and other institutional investors have recently made changes to their positions in CVS. Pzena Investment Management LLC grew its holdings in shares of CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after buying an additional 3,071,613 shares during the last quarter. State Street Corp grew its holdings in shares of CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP purchased a new stake in CVS Health in the 3rd quarter valued at approximately $121,987,000. Finally, Pathway Financial Advisers LLC boosted its holdings in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.