Truist Financial Lowers CVS Health (NYSE:CVS) Price Target to $60.00

CVS Health (NYSE:CVS) had its target price dropped by stock analysts at Truist Financial from $67.00 to $60.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the pharmacy operator’s stock. Truist Financial’s price objective would indicate a potential upside of 30.92% from the stock’s current price.

CVS has been the subject of several other reports. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Barclays cut their price target 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. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. Finally, UBS Group raised their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Stock Performance

Shares of CVS opened at $45.83 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock has a market capitalization of $57.67 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59. CVS Health has a 52-week low of $43.56 and a 52-week high of $83.25. The stock’s 50-day simple moving average is $52.40 and its 200 day simple moving average is $56.86.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the business earned $2.21 earnings per share. CVS Health’s revenue was up 6.3% compared to the same quarter last year. Research analysts forecast that CVS Health will post 5.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Central Pacific Bank Trust Division increased its position in CVS Health by 3.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 34,257 shares of the pharmacy operator’s stock valued at $1,538,000 after purchasing an additional 989 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after purchasing an additional 66,244 shares during the last quarter. Old North State Trust LLC bought a new stake in CVS Health in the third quarter worth $200,000. Tidal Investments LLC grew its position in CVS Health by 52.2% during the 3rd quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock valued at $7,043,000 after purchasing an additional 38,408 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of CVS Health in the third quarter worth approximately $2,071,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.