Barclays Lowers CVS Health (NYSE:CVS) Price Target to $71.00

CVS Health (NYSE:CVS) had its price target dropped by analysts at Barclays from $75.00 to $71.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the pharmacy operator’s stock. Barclays‘s price target indicates a potential upside of 27.79% from the stock’s previous close.

Several other brokerages have also commented on CVS. Wells Fargo & Company cut their target price on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Mizuho lowered their price objective 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 cut their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

CVS Health Stock Performance

Shares of CVS Health stock opened at $55.56 on Thursday. The stock has a market cap of $69.89 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.94 and a beta of 0.55. CVS Health has a twelve month low of $52.77 and a twelve month high of $83.25. The company’s fifty day moving average is $59.56 and its 200 day moving average is $59.19. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the business earned $2.21 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Sell-side analysts forecast that CVS Health will post 6.18 EPS for the current year.

Institutional Investors Weigh In On CVS Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pzena Investment Management LLC increased its holdings in CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the period. Capital International Investors raised its position in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital World Investors boosted its stake in CVS Health by 8.0% during the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after buying an additional 3,232,172 shares during the period. Pathway Financial Advisers LLC raised its holdings in shares of 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 acquiring an additional 1,701,331 shares in the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after acquiring an additional 1,606,500 shares during the last quarter. 80.66% of the stock is currently 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.