CVS Health (NYSE:CVS) Stock Price Expected to Rise, Mizuho Analyst Says

CVS Health (NYSE:CVS) had its price objective increased by Mizuho from $70.00 to $76.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the pharmacy operator’s stock. Mizuho’s price target points to a potential upside of 12.36% from the company’s previous close.

CVS has been the subject of a number of other research reports. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company increased their target price on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Truist Financial boosted their price target on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Piper Sandler increased their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. upped their price objective on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Four investment 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $70.94.

CVS Health Trading Up 5.9 %

Shares of CVS stock opened at $67.64 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health has a 12-month low of $43.56 and a 12-month high of $74.85. The stock has a market capitalization of $85.28 billion, a P/E ratio of 18.48, a P/E/G ratio of 0.98 and a beta of 0.57. The firm’s 50 day moving average is $64.03 and its 200 day moving average is $58.18.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Research analysts expect that CVS Health will post 5.89 earnings per share for the current year.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

A number of hedge funds and other institutional investors have recently modified their holdings of CVS. Norges Bank purchased a new position in CVS Health during the fourth quarter worth about $839,574,000. Capital World Investors raised its stake in shares of CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after acquiring an additional 12,819,148 shares during the period. Davis Selected Advisers lifted its stake in CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after purchasing an additional 11,018,438 shares in the last quarter. Dodge & Cox lifted its stake in CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after acquiring an additional 7,075,209 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its stake in shares of CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

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.