Analysts Set CVS Health Co. (NYSE:CVS) Target Price at $69.12

Shares of CVS Health Co. (NYSE:CVS) have been given a consensus recommendation of “Moderate Buy” by the nineteen brokerages that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $69.12.

A number of research analysts recently issued reports on the company. Barclays reduced their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price 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 on the stock in a research report on Thursday, October 24th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th.

Institutional Investors Weigh In On CVS Health

A number of institutional investors have recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the 3rd quarter valued at $25,000. Livelsberger Financial Advisory bought a new stake in CVS Health in the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC purchased a new position in CVS Health in the 3rd quarter worth about $31,000. Reston Wealth Management LLC bought a new position in CVS Health during the 3rd quarter valued at about $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health in the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS opened at $44.49 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $54.13 and its 200 day simple moving average is $57.64. The firm has a market cap of $55.99 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.85 and a beta of 0.54. CVS Health has a 1 year low of $43.56 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 earnings per share. As a group, analysts predict that CVS Health will post 5.32 earnings per share for the current year.

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.