UBS Group Issues Pessimistic Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its target price decreased by UBS Group from $62.00 to $59.00 in a research note issued to investors on Tuesday. The firm currently has a “neutral” rating on the pharmacy operator’s stock. UBS Group’s target price points to a potential downside of 6.69% from the stock’s current price.

CVS has been the topic of several other reports. Evercore ISI raised their price target on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. TD Cowen boosted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.78.

CVS Health Stock Performance

CVS opened at $63.23 on Tuesday. The firm’s fifty day simple moving average is $50.61 and its two-hundred day simple moving average is $55.92. CVS Health has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a market cap of $79.57 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.60 and a beta of 0.61. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

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

Hedge Funds Weigh In On CVS Health

A number of hedge funds and other institutional investors have recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the third quarter worth about $25,000. Ridgewood Investments LLC grew its holdings in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in CVS Health during the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. purchased a new position in CVS Health in the 4th quarter valued at approximately $29,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the third quarter worth $31,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

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.