CVS Health (NYSE:CVS) Shares Up 5.7% – What’s Next?

CVS Health Co. (NYSE:CVS) traded up 5.7% on Wednesday . The company traded as high as $46.59 and last traded at $46.53. 4,449,280 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 11,458,583 shares. The stock had previously closed at $44.04.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent analyst reports. Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Mizuho cut their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. TD Cowen raised their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

CVS Health Stock Down 3.3 %

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 company’s fifty day moving average price is $56.69 and its 200-day moving average price is $58.34. The stock has a market capitalization of $55.09 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating 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 business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts forecast that CVS Health Co. will post 5.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its holdings in CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after acquiring an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after buying an additional 10,465 shares in the last quarter. Cullinan Associates Inc. boosted its position in shares of CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after acquiring an additional 37,395 shares during the last quarter. Sompo Asset Management Co. Ltd. lifted its stake in CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of CVS Health during the second quarter valued at about $57,584,000. 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.