UBS Group Forecasts Strong Price Appreciation for CVS Health (NYSE:CVS) Stock

CVS Health (NYSE:CVS) had its target price boosted by research analysts at UBS Group from $60.00 to $62.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the pharmacy operator’s stock. UBS Group’s target price would indicate a potential upside of 5.16% from the stock’s previous close.

Several other research firms also recently weighed in on CVS. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Barclays reduced their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Evercore ISI upped their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

CVS Health Stock Performance

CVS stock traded down $2.65 during trading on Thursday, hitting $58.96. 5,592,280 shares of the company’s stock traded hands, compared to its average volume of 11,233,680. 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 has a 52 week low of $52.77 and a 52 week high of $83.25. The stock has a fifty day moving average price of $59.59 and a two-hundred day moving average price of $59.23. The stock has a market capitalization of $74.17 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that CVS Health will post 6.27 EPS for the current fiscal year.

Institutional Investors Weigh In On CVS Health

Large investors have recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in CVS Health during the third quarter worth approximately $31,000. Reston Wealth Management LLC bought a new stake in CVS Health during the third quarter worth approximately $32,000. First Community Trust NA boosted its position in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health in the third quarter valued at approximately $33,000. Finally, ORG Partners LLC boosted its position in shares of CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the period. Institutional investors own 80.66% of the company’s stock.

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.