Truist Financial Reaffirms “Buy” Rating for CVS Health (NYSE:CVS)

CVS Health (NYSE:CVS)‘s stock had its “buy” rating restated by Truist Financial in a report issued on Wednesday,Benzinga reports. They currently have a $67.00 price objective on the pharmacy operator’s stock, down from their prior price objective of $76.00. Truist Financial’s price objective would suggest a potential upside of 17.41% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Mizuho cut their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays lowered their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.28.

CVS Health Stock Up 0.4 %

Shares of NYSE:CVS opened at $57.07 on Wednesday. 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 is $59.20 and its 200 day moving average is $58.60. The stock has a market cap of $71.81 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55. CVS Health has a 52-week low of $52.71 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 earnings per share. Sell-side analysts predict that CVS Health will post 5.43 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in CVS Health in the 3rd quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health during the third quarter worth $31,000. Crewe Advisors LLC acquired a new position in shares of CVS Health in the first quarter worth $40,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health in the third quarter valued at $31,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of CVS Health during the third quarter valued at $32,000. 80.66% of the stock is 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.