CVS Health (NYSE:CVS) Price Target Lowered to $64.00 at Piper Sandler

CVS Health (NYSE:CVS) had its target price reduced by equities researchers at Piper Sandler from $72.00 to $64.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the pharmacy operator’s stock. Piper Sandler’s price objective would indicate a potential upside of 8.75% from the stock’s previous close.

CVS has been the topic of several other reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Barclays lowered their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. UBS Group boosted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Truist Financial reissued a “buy” rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.61.

CVS Health Stock Performance

CVS Health stock opened at $58.85 on Monday. The stock has a market cap of $74.06 billion, a PE ratio of 14.94, a P/E/G ratio of 0.98 and a beta of 0.55. 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 business’s 50-day moving average price is $59.21 and its two-hundred day moving average price is $58.63. CVS Health has a 12-month low of $52.71 and a 12-month high of $83.25.

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

Hedge Funds Weigh In On CVS Health

Large investors have recently made changes to their positions in the stock. Assetmark Inc. grew its stake in CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares in the last quarter. Cullinan Associates Inc. increased its holdings in shares of CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after purchasing an additional 37,395 shares during the period. Deerfield Management Company L.P. Series C purchased a new stake in shares of CVS Health in the second quarter worth $57,584,000. Oppenheimer Asset Management Inc. boosted its stake in CVS Health by 5.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock valued at $28,191,000 after buying an additional 24,285 shares during the period. Finally, Sompo Asset Management Co. Ltd. grew its position in CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after buying an additional 10,453 shares in the last quarter. 80.66% of the stock is owned by 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.