CVS Health (NYSE:CVS) Upgraded at Leerink Partners

CVS Health (NYSE:CVS) was upgraded by equities research analysts at Leerink Partners from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $75.00 price target on the pharmacy operator’s stock, up from their prior price target of $55.00. Leerink Partners’ price target would indicate a potential upside of 14.15% from the company’s current price.

Several other equities research analysts also recently weighed in on CVS. Piper Sandler reduced 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. Evercore ISI increased their price target on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Truist Financial reduced their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. TD Cowen increased their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.28.

CVS Health Price Performance

NYSE:CVS opened at $65.71 on Thursday. The firm has a market capitalization of $82.68 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.60 and a beta of 0.61. CVS Health has a 1 year low of $43.56 and a 1 year high of $80.75. The business has a 50 day simple moving average of $50.90 and a 200-day simple moving average of $56.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. Equities analysts forecast that CVS Health will post 5.14 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the 3rd quarter worth $25,000. Ridgewood Investments LLC boosted its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health in the 4th quarter worth $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health in the 4th quarter worth $29,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the 3rd quarter worth $31,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

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.