CVS Health (NYSE:CVS) Given New $80.00 Price Target at Argus

CVS Health (NYSE:CVS) had its target price cut by investment analysts at Argus from $100.00 to $80.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the pharmacy operator’s stock. Argus’ price objective points to a potential upside of 44.74% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Mizuho dropped their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. UBS Group cut CVS Health from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and cut their target price for the company from $99.00 to $59.00 in a research report on Tuesday. Finally, Cantor Fitzgerald cut shares of CVS Health from an “overweight” rating to a “neutral” rating and cut their price target for the company from $87.00 to $58.00 in a report on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.67.

CVS Health Price Performance

Shares of NYSE CVS traded down $0.47 during trading on Wednesday, reaching $55.27. The company had a trading volume of 6,606,700 shares, compared to its average volume of 11,810,369. The stock has a market capitalization of $69.38 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The stock has a 50-day moving average price of $71.95 and a two-hundred day moving average price of $73.09. CVS Health has a twelve month low of $53.70 and a twelve month high of $83.25. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that CVS Health will post 7.03 earnings per share for the current year.

Insider Transactions at CVS Health

In related news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Atticus Wealth Management LLC raised its stake in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the period. USA Financial Formulas raised its stake in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health during the fourth quarter worth $32,000. Creekmur Asset Management LLC acquired a new position in shares of CVS Health in the fourth quarter valued at $34,000. Finally, Steph & Co. lifted its stake in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

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.